Trial balance : A trial balance is a book-keeping worksheet, which is prepared at the end of a specified period to record ending balances of all ledger accounts in either debit or credit column. In other words, we can say that a book-keeping worksheet, which is prepared to check the mathematical accuracy of the accounting recording is known as trial balance. The effects of posting errors on the trial balance. Given info: Identify the effects of posting errors on the trial balance with the help of given information; Description of Posting Error (1) Difference between Debit and Credit columns (2) Column with the Ledger Total (3) Identify Account(s) Incorrectly Stated (4) Amount That Account(s) is Over or Understated a. $3,600 debit to rent expense is posted as a $1,340 debit. $2,260 Credit Rent Expense Rent Expense understated $2,260 b. $6,500 credit to cash is posted twice as two credits to cash. c. $10,900 debit to the dividends account is debited to common stock. d. $2,050 debit to prepaid insurance is posted as a debit to insurance expense. e. $38,000 debit to machinery is posted as a debit to accounts payable. f. $5,850 credit to services revenue is posted as a $585 credit. g. $1,390 debit to store supplies is not posted.

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Answer 1

Question

Chapter D, Problem 20E

To determine

Concept introduction:

Trial balance:

A trial balance is a book-keeping worksheet, which is prepared at the end of a specified period to record ending balances of all ledger accounts in either debit or credit column. In other words, we can say that a book-keeping worksheet, which is prepared to check the mathematical accuracy of the accounting recording is known as trial balance.

The effects of posting errors on the trial balance.

Given info:

Identify the effects of posting errors on the trial balance with the help of given information;

Description of Posting Error (1) Difference between Debit and Credit columns (2) Column with the Ledger Total (3) Identify Account(s) Incorrectly Stated (4) Amount That Account(s) is Over or Understated

a. $3,600 debit to rent expense is posted as a $1,340 debit. $2,260 Credit Rent Expense Rent Expense understated $2,260

b. $6,500 credit to cash is posted twice as two credits to cash.

c. $10,900 debit to the dividends account is debited to common stock.

d. $2,050 debit to prepaid insurance is posted as a debit to insurance expense.

e. $38,000 debit to machinery is posted as a debit to accounts payable.

f. $5,850 credit to services revenue is posted as a $585 credit.

g. $1,390 debit to store supplies is not posted.

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Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3), identify the account(s) affected by the error. In column (4), indicate the amount by which the account(s) in column (3) is under- or overstated. Item (a) is completed as an example.

Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3), identify the account(s) affected by the error. In column (4), indicate the amount by which the account(s) in column (3) is under- or overstated. Item (a) is completed as an example. Note: Select "None" if there is no effect. (1) Difference between Description of Posting Error Debit and Credit Columns Larger Total (2) Column with the (3) Identify Account(s) Incorrectly Stated (4) Amount of account over- or understatement a. $1,720 debit to Rent Expense is posted as a $1,270 debit. $ 450 Credit Rent Expense Rent Expense is understated by $450 b. $3,440 credit to Cash is posted twice as two credits to Cash. c. $1,570 debit to Prepaid Insurance is posted as a debit to Insurance Expense.…

Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3), identify the account(s) affected by the error. In column (4), indicate the amount by which the account(s) in column (3) is under- or overstated. Item (a) is completed as an example. (Select "None" if there is no effect.)

Answer 2

Question

Chapter D, Problem 20E

To determine

Concept introduction:

Trial balance:

A trial balance is a book-keeping worksheet, which is prepared at the end of a specified period to record ending balances of all ledger accounts in either debit or credit column. In other words, we can say that a book-keeping worksheet, which is prepared to check the mathematical accuracy of the accounting recording is known as trial balance.

The effects of posting errors on the trial balance.

Given info:

Identify the effects of posting errors on the trial balance with the help of given information;

Description of Posting Error (1) Difference between Debit and Credit columns (2) Column with the Ledger Total (3) Identify Account(s) Incorrectly Stated (4) Amount That Account(s) is Over or Understated

a. $3,600 debit to rent expense is posted as a $1,340 debit. $2,260 Credit Rent Expense Rent Expense understated $2,260

b. $6,500 credit to cash is posted twice as two credits to cash.

c. $10,900 debit to the dividends account is debited to common stock.

d. $2,050 debit to prepaid insurance is posted as a debit to insurance expense.

e. $38,000 debit to machinery is posted as a debit to accounts payable.

f. $5,850 credit to services revenue is posted as a $585 credit.

g. $1,390 debit to store supplies is not posted.

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Answer 3

Question

Chapter D, Problem 20E

To determine

Concept introduction:

Trial balance:

A trial balance is a book-keeping worksheet, which is prepared at the end of a specified period to record ending balances of all ledger accounts in either debit or credit column. In other words, we can say that a book-keeping worksheet, which is prepared to check the mathematical accuracy of the accounting recording is known as trial balance.

The effects of posting errors on the trial balance.

Given info:

Identify the effects of posting errors on the trial balance with the help of given information;

Description of Posting Error (1) Difference between Debit and Credit columns (2) Column with the Ledger Total (3) Identify Account(s) Incorrectly Stated (4) Amount That Account(s) is Over or Understated

a. $3,600 debit to rent expense is posted as a $1,340 debit. $2,260 Credit Rent Expense Rent Expense understated $2,260

b. $6,500 credit to cash is posted twice as two credits to cash.

c. $10,900 debit to the dividends account is debited to common stock.

d. $2,050 debit to prepaid insurance is posted as a debit to insurance expense.

e. $38,000 debit to machinery is posted as a debit to accounts payable.

f. $5,850 credit to services revenue is posted as a $585 credit.

g. $1,390 debit to store supplies is not posted.

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Answer 4

Question

Chapter D, Problem 20E

To determine

Concept introduction:

Trial balance:

A trial balance is a book-keeping worksheet, which is prepared at the end of a specified period to record ending balances of all ledger accounts in either debit or credit column. In other words, we can say that a book-keeping worksheet, which is prepared to check the mathematical accuracy of the accounting recording is known as trial balance.

The effects of posting errors on the trial balance.

Given info:

Identify the effects of posting errors on the trial balance with the help of given information;

Description of Posting Error (1) Difference between Debit and Credit columns (2) Column with the Ledger Total (3) Identify Account(s) Incorrectly Stated (4) Amount That Account(s) is Over or Understated

a. $3,600 debit to rent expense is posted as a $1,340 debit. $2,260 Credit Rent Expense Rent Expense understated $2,260

b. $6,500 credit to cash is posted twice as two credits to cash.

c. $10,900 debit to the dividends account is debited to common stock.

d. $2,050 debit to prepaid insurance is posted as a debit to insurance expense.

e. $38,000 debit to machinery is posted as a debit to accounts payable.

f. $5,850 credit to services revenue is posted as a $585 credit.

g. $1,390 debit to store supplies is not posted.

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Answer 5

Chapter D, Problem 20E

To determine

Concept introduction:

Trial balance:

A trial balance is a book-keeping worksheet, which is prepared at the end of a specified period to record ending balances of all ledger accounts in either debit or credit column. In other words, we can say that a book-keeping worksheet, which is prepared to check the mathematical accuracy of the accounting recording is known as trial balance.

The effects of posting errors on the trial balance.

Given info:

Identify the effects of posting errors on the trial balance with the help of given information;

Description of Posting Error (1) Difference between Debit and Credit columns (2) Column with the Ledger Total (3) Identify Account(s) Incorrectly Stated (4) Amount That Account(s) is Over or Understated

a. $3,600 debit to rent expense is posted as a $1,340 debit. $2,260 Credit Rent Expense Rent Expense understated $2,260

b. $6,500 credit to cash is posted twice as two credits to cash.

c. $10,900 debit to the dividends account is debited to common stock.

d. $2,050 debit to prepaid insurance is posted as a debit to insurance expense.

e. $38,000 debit to machinery is posted as a debit to accounts payable.

f. $5,850 credit to services revenue is posted as a $585 credit.

g. $1,390 debit to store supplies is not posted.

Answer 6

Chapter D, Problem 20E

To determine

Concept introduction:

Trial balance:

A trial balance is a book-keeping worksheet, which is prepared at the end of a specified period to record ending balances of all ledger accounts in either debit or credit column. In other words, we can say that a book-keeping worksheet, which is prepared to check the mathematical accuracy of the accounting recording is known as trial balance.

The effects of posting errors on the trial balance.

Given info:

Identify the effects of posting errors on the trial balance with the help of given information;

Description of Posting Error (1) Difference between Debit and Credit columns (2) Column with the Ledger Total (3) Identify Account(s) Incorrectly Stated (4) Amount That Account(s) is Over or Understated

a. $3,600 debit to rent expense is posted as a $1,340 debit. $2,260 Credit Rent Expense Rent Expense understated $2,260

b. $6,500 credit to cash is posted twice as two credits to cash.

c. $10,900 debit to the dividends account is debited to common stock.

d. $2,050 debit to prepaid insurance is posted as a debit to insurance expense.

e. $38,000 debit to machinery is posted as a debit to accounts payable.

f. $5,850 credit to services revenue is posted as a $585 credit.

g. $1,390 debit to store supplies is not posted.

Answer 7

Chapter D, Problem 20E

To determine

Concept introduction:

Trial balance:

A trial balance is a book-keeping worksheet, which is prepared at the end of a specified period to record ending balances of all ledger accounts in either debit or credit column. In other words, we can say that a book-keeping worksheet, which is prepared to check the mathematical accuracy of the accounting recording is known as trial balance.

The effects of posting errors on the trial balance.

Given info:

Identify the effects of posting errors on the trial balance with the help of given information;

Description of Posting Error (1) Difference between Debit and Credit columns (2) Column with the Ledger Total (3) Identify Account(s) Incorrectly Stated (4) Amount That Account(s) is Over or Understated

a. $3,600 debit to rent expense is posted as a $1,340 debit. $2,260 Credit Rent Expense Rent Expense understated $2,260

b. $6,500 credit to cash is posted twice as two credits to cash.

c. $10,900 debit to the dividends account is debited to common stock.

d. $2,050 debit to prepaid insurance is posted as a debit to insurance expense.

e. $38,000 debit to machinery is posted as a debit to accounts payable.

f. $5,850 credit to services revenue is posted as a $585 credit.

g. $1,390 debit to store supplies is not posted.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. D - Prob. 1DQ Ch. D - Prob. 2DQ Ch. D - Prob. 3DQ Ch. D - Prob. 4DQ Ch. D - Are debits or credits typically listed first in...Ch. D - Should a transaction be recorded first in a...Ch. D - Prob. 7DQ Ch. D - Why does the reeordkeeper prepare a trial balance?Ch. D - Prob. 9DQ Ch. D - Prob. 10DQ

Solution Summary: The author explains the concept of a trial balance and the effects of posting errors on it.

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Chapter D Solutions

	Description of Posting Error	(1) Difference between Debit and Credit columns	(2) Column with the Ledger Total	(3) Identify Account(s) Incorrectly Stated	(4) Amount That Account(s) is Over or Understated
a.	$3,600 debit to rent expense is posted as a $1,340 debit.	$2,260	Credit	Rent Expense	Rent Expense understated $2,260
b.	$6,500 credit to cash is posted twice as two credits to cash.
c.	$10,900 debit to the dividends account is debited to common stock.
d.	$2,050 debit to prepaid insurance is posted as a debit to insurance expense.
e.	$38,000 debit to machinery is posted as a debit to accounts payable.
f.	$5,850 credit to services revenue is posted as a $585 credit.
g.	$1,390 debit to store supplies is not posted.