An entity paid R200 for repairs and maintenance on a vehicle and posted the following journal entry in the general journal:Debit: Vehicles     R200Credit: Bank       R200This error will be detected in the trial balance, because the total debits and the total credits will NOT be equal.

An entity received R500 cash for the sale of goods. The entity applies the periodic inventory system and posted the following journal entry in the general journal:Debit: Sales    R500Credit: Bank      R500 This error will be detected in the trial balance, because the total debits and the total credits will NOT be equal.

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.

Q8(b): Assume ‘Allowance for Doubtful Accounts’ has a debit balance of $3,000 in the trial balance, prepare the adjusting journal entry to record bad debts expense for the financial year ended 31 March 2022. (3 marks)

When a trial balance balances, it is an indication that: Group of answer choices all journal entries have been posted. the account balances are correct. total debits equal total credits. all transactions have been journalised.

Peter has extracted the balances from his ledgers as at 28 February 2023. The trial balance won’t balance, the credits exceed the debits by Sh 1,840. You have been asked to help correct the problem. After inspection of the ledger accounts, you have discovered the following errors: 1. A balance of Sh 1,468 on a debtor’s account, Aspen, has been omitted from the schedule of debtors, the total of which was entered as debtors in the trial balance. Is this one of the six errors? yes (yes/no) To correct this error Debit and Credit (Write only one word for the account name, e.g Suspense) 2. A small piece of equipment purchased for Sh 1,200 had been entered in the purchases account. Is this one of the six errors? (yes/no) To correct this error Debit and Credit (Write only one word for the account name, e.g Suspense) 3. The receipts side of the cash book had been under cast by Sh 800. Is this one of the six errors? (yes/no) To correct this error Debit and Credit (Write only one word for the account name, e.g Suspense) 4. The total of one page of the sales journal had been carried forward as Sh 6,790 instead of the correct amount which was Sh 7,690 Is this one of the six errors? (yes/no) To correct this error Debit and credit with Sh (Write only one word for the account name, e.g Suspense) 5. A credit note for Sh 236 received from a supplier, Markone, had been posted on the wrong side of her account. Is this one of the six errors? (yes/no) To correct this error Debit and Credit with Sh 472 (Write only one word for the account name, e.g Suspense) 6. An electricity bill in the sum of Sh 152, not yet accrued for, was discovered in the filing tray. Is this one of the six errors? (yes/no) To correct the error Debit and Credit with Sh 152 (Write only one word for the account name, e.g Suspense) 7. If the net income before corrections was Sh 11,500, it changed to Sh after the corrections. (insert commas in your answer. 8. After the corrections, total assets will (increase/decrease) by Sh