Julie, a new employee, is not sure of the effect the following unrelated situations would have on the accuracy of the financial statements. Identify the account(s) that are affected and if the trial balance would balance.
(a) Equipment was purchased for $1,000 cash. The debit was recorded properly, but the credit was omitted.
(b) A debit to Cash for $250 was posted as $2,500; the credit was posted correctly.
(c) A purchase of supplies on account for $75 was posted as a debit to Supplies and a credit to Cash.

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The Answer of Julie, a new employee, is not sure of the effect the following unrelated situations would have on the accuracy of the financial statements. Identify the account(s) that are affected and if the trial balance would balance.
(a) Equipment was purchased for $1,000 cash. The debit was recorded properly, but the credit was omitted.
(b) A debit to Cash for $250 was posted as $2,500; the credit was posted correctly.
(c) A purchase of supplies on account for $75 was posted as a debit to Supplies and a credit to Cash.

Julie, a New Employee, Is Not Sure of the Effect