186k views
3 votes
In this problem, you will be given three errors that may or may not affect the trial balance. You are to determine the following:(1) As a result of each error, will the trial balance still balance? Consider each error separately. If you determine that the trial balance will not balance as a result of the error, then answer the following questions:(2) What is the amount of the difference between the two columns of the trial balance? (3) Which trial balance column (debit or credit) will have the larger total?A. A payment of $490 on account for supplies previously purchased was recorded as a debit to Supplies Expense and a credit to Cash for $490B. A payment of $150 on account for supplies previously purchased was recorded as a debit to Accounts Payable for $150 and a credit to Cash for $510C. The $875 balance in Service Revenue was listed as a debit.

User Tom Desp
by
7.8k points

1 Answer

4 votes

Answer:

1) This error will not effect balancing of trial.

2) Total difference in both columns will be of $500 and credit side of trial balance will have larger balance.

3) Total difference in both columns will be of $1,750 and debit side will exceed from credit side.

User Motonstron
by
8.5k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.