Question

Following errors occurred in posting from a two-column journal:

A credit of $7,240 to Accounts Payable was not posted.
An entry debiting Accounts Receivable and crediting Fees Earned for $9,300 was not posted.
A debit of $1,250 to Accounts Payable was posted as a credit.
A debit of $1,030 to Supplies was posted twice.
A debit of $1,700 to Cash was posted to Miscellaneous Expense.
A credit of $270 to Cash was posted as $720. A
A debit of $4,720 to Wages Expense was posted as $4,270.

Considering each case individually (i.e., assuming that no other errors had occurred):

a. Indicate by "yes" or "no" whether the trial balance would be out of balance.
b. If the answer to (a) is "yes", indicate the amount by which the trial balance totals would differ.

Answer 1

A credit of $7,240 to Accounts Payable was not posted.

a. Yes b. $7,240

An entry debiting Accounts Receivable and crediting Fees Earned for $9,300 was not posted.

a. No

A debit of $1,250 to Accounts Payable was posted as a credit.

a. Yes b. $1,250

A debit of $1,030 to Supplies was posted twice.

a. Yes b. $1,030

A debit of $1,700 to Cash was posted to Miscellaneous Expense.

a Yes b. $1,700

A credit of $270 to Cash was posted as $720.

a. Yes b. $450

A debit of $4,720 to Wages Expense was posted as $4,270.

b. Yes b. $450

Step-by-step explanation:

A trial balance is a list of balances extracted fron the ledger accounts prepared as at the reporting date.

If the Totals of the Debit and Credit equal, then on the face of it, it is arithmetically correct.

This means the that the following errors are not detected by the trial balance : Error of Omission, Error of Commission, Error of Principle, Error of Complete Reversal of Entries, Error of Original Entry and Compensation Error.