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:
Verified
b.The ...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q220: Prepare a journal entry for the purchase
Q221: Answer the following questions for each of
Q222: Journalize the entries to correct the following
Q223: Below is the unadjusted trial balance for
Q224: On January 1, Merry Walker established
Q226: Exhibit 2-1
All nine transactions for Ralston Sports
Q227: Nebraska Technologies has a condensed income statement
Q228: On January 1, Merry Walker established a
Q229: On January 1, Merry Walker established a
Q230: Lewis Company has a condensed income statement
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents