At year-end, the accountant for
D. Yee Chiropractic Service noted the following errors in the trial balance:
The bookkeeper understated the total credits to the Accourts Payable account by

\$ 500

when calculating the account balance.

A cash sale for

\$ 300

was recorded as a credit to the unearned reverue account, but the servicehad been provided to the customer at the time of the cash exchange.

A cash receipt from a customer for

\$ 2,600

was never recorded.

The

\$ 1,000

balance of the Prepaid Rent account was listed in the credit colurm of the trial balance.

A

\$ 25,000

car purchase was recorded as a

\$ 20,500

debit to Vehicles and a

\$ 20,500

credit to Notes Payable.

A purchase of office supplies for

\$ 150

was recorded as a debit to Supplies Expense. The off setting credit entry was correct.

An additional investrnent of

\$ 4,000

by D. Yee chiropractic Was recorded as a debit to D. Yee, Capital and as a credit to Cash.

The payment of the

\$ 510

utility bill for Decermber was recorded twice.

The reverue account balarnce of

\$ 79,000

was listed on the trial balance as

\$ 97,000

.

A

\$ 1,000

withdrawal made by the owner was recorded to the correct accounts as

\$ 100

. Using the form below, indicate if each error would cause the trial balance to be out of balance, the amount of any imbalance, and if a correcting entry is required.
$At year-end, the accountant for D. Yee Chiropractic Service noted the following errors in the trial balance: The bookkeeper understated the total credits to the Accourts Payable account by \$ 500 when calculating the account balance. A cash sale for \$ 300 was recorded as a credit to the unearned reverue account, but the servicehad been provided to the customer at the time of the cash exchange. A cash receipt from a customer for \$ 2,600 was never recorded. The \$ 1,000 balance of the Prepaid Rent account was listed in the credit colurm of the trial balance. A \$ 25,000 car purchase was recorded as a \$ 20,500 debit to Vehicles and a \$ 20,500 credit to Notes Payable. A purchase of office supplies for \$ 150 was recorded as a debit to Supplies Expense. The off setting credit entry was correct. An additional investrnent of \$ 4,000 by D. Yee chiropractic Was recorded as a debit to D. Yee, Capital and as a credit to Cash. The payment of the \$ 510 utility bill for Decermber was recorded twice. The reverue account balarnce of \$ 79,000 was listed on the trial balance as \$ 97,000 . A \$ 1,000 withdrawal made by the owner was recorded to the correct accounts as \$ 100 . Using the form below, indicate if each error would cause the trial balance to be out of balance, the amount of any imbalance, and if a correcting entry is required.$

If the Accountant Failed to Make the End-Of-Period Adjustment to Reduce

Multiple Choice

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