Multiple Choice
The credit purchase of a delivery truck for $4,700 was posted to Delivery Trucks as a $4,700 debit and to Accounts Payable as a $4,700 debit. What effect would this error have on the trial balance?
A) The total of the Debit column of the trial balance will exceed the total of the Credit column by $4,700.
B) The total of the Credit column of the trial balance will exceed the total of the Debit column by $4,700.
C) The total of the Debit column of the trial balance will exceed the total of the Credit column by $9,400.
D) The total of the Credit column of the trial balance will exceed the total of the Debit column by $9,400.
E) The total of the Debit column of the trial balance will equal the total of the Credit column.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Stride Along had total liabilities of $130
Q3: Accounts are normally decreased by debits.
Q4: The following are all of the accounts
Q5: Based on the following trial balance for
Q6: Identify whether a debit or credit yields
Q7: Transactions are first recorded in the ledger.
Q9: Which of the following statements is incorrect?<br>A)
Q11: Unearned revenues are:<br>A) Revenues that have been
Q50: A _ gives a complete record of
Q224: Explain the debt ratio and its use