A company did not record the receipt and payment of an utility bill for $500.Is the trial balance out of balance?
A)No.
B)Yes,by $500.
C)Yes,by $1,000.
D)Yes,by an indeterminate amount.

Question

Quizplus · Accepted Answer

The trial balance will not be out of balance because both the receipt and payment of the utility bill were not recorded, meaning both the debit and credit sides are equally affected and remain balanced.

A Company Did Not Record the Receipt and Payment of an Utility