While in the process of posting from the journal to the ledger, the accountant of X Company failed to post a $50 debit to the Office Supplies account. The effect of this error will be as follows:
A)The total debits in the trial balance will be larger than the total credits.
B)The error will overstate the debits listed in the journal.
C)The trial balance will not balance.
D)The Office Supplies account balance will be overstated.
E)This error will not make any difference.

Question

Quizplus · Accepted Answer

Since the $50 debit was not posted, the trial balance will not balance as it will have one debit less than the corresponding credit. This error will affect the accuracy of the trial balance and may also affect the accuracy of the financial statements.

While in the Process of Posting from the Journal to the Ledger