Solved

For Each of the Following Errors, Considered Individually, Indicate Whether

Question 188

Essay

For each of the following errors, considered individually, indicate whether the error would cause the trial balance totals to be unequal. If the error would cause the trial balance totals to be unequal, indicate whether the debit or credit total is higher and by how much.?
a. Payment of a cash withdrawal of $6,800 was journalized and posted as a debit of $8,600 to Salaries Expense and a credit of $8,600 to Cash.
b. A fee of $9,780 earned was debited to Accounts Receivable for $7,980 and credited to Fees Earned for $9,780.
c. A payment of $3,000 to a creditor was posted as a credit of $3,000 to Accounts Payable and a credit of $3,000 to Cash.

Correct Answer:

verifed

Verified

a.The totals are equal.
b.The ...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions