If an incorrect amount is captured on the source document, this error will NOT be detected in the trial balance becauase the total debits and the total credits will still be equal.

At all times, if the total of the debit and credit columns of the trial balance are balanced, there is no possible error that occurred during the journalizing and posting stages.Select one:TrueFalse

The trial balance can help in detecting errors. Identify which of the following errors would be detected at the point of extracting a trial balance. 1-The bookkeeper enters cash received of Sh 50,000 from Peter Jones as a debit in the cashbook but enters the credit of Sh 50,000 in the ledger account of Roger Jones. 2-The bookkeeper enters a cash sale as a credit of Sh 4,000 in the cash book and as a debit of Sh 4,000 in the sales account. 3-The bookkeeper omits a cash sale of Sh 23,000 from the cash book and from the sales accounts. 4-The bookkeeper enters a cash sale as a debit of Sh 49,000 in the cash book and as a credit of Sh 94,000 in the sales account Choose: not possible to tell; will not be detected, trial balance will still agree; will be detected by the trial balance not agreeing; may or may not be detected

Which of the following statements about the trial balance is incorrect?a.It is a list of balances from the ledger accountsb.It provides a useful check on the accuracy of the ledger accountsc.It calculates the profit or loss achieved by the businessd.The total value of debits must equal the total value of credits

errors which affect the trial balance

If the totals of a trial balance are not equal, it could be due to: Group of answer choices a failure to record or to post a transaction. recording the same erroneous amount for both the debit and credit parts of a transaction. an error in calculating the account balances. recording the transaction more than once.