The bookkeeper for Roger’s dance studio made the following errors in journalizing and posting.For each error, indicate whether the trial balance will balance; the amount of the difference if the trial balance will not balance; and the trial balance column that will have the larger total. Consider each error separately. Use the following form, in which error 1 is given as an example.ErrorIn BalanceDifferenceLarger Column1. A credit to Supplies of $600 was omitted.No $600Debit2. A debit posting of $300 to Accounts Payable was inadvertently debited to Accounts Receivable.select between yes or no enter the amount of the difference if the trial balance is not balanced choose the larger column of the trial balance3. A purchase of supplies on account of $450 was debited to Supplies for $540 and credited to Accounts Payable for $540.select between yes or no enter the amount of the difference if the trial balance is not balanced choose the larger column of the trial balance4. A credit posting of $680 to Interest Payable was posted twice.select between yes or no enter the amount of the difference if the trial balance is not balanced choose the larger column of the trial balance5. A debit posting to Income Taxes Payable for $250 and a credit posting to Cash for $250 were made twice.select between yes or no enter the amount of the difference if the trial balance is not balanced choose the larger column of the trial balance6. A debit posting for $1,200 of Dividends was inadvertently posted to Salaries and Wages Expense instead.select between yes or no enter the amount of the difference if the trial balance is not balanced choose the larger column of the trial balance7. A credit to Service Revenue for $450 was inadvertently posted as a debit to Service Revenue.select between yes or no enter the amount of the difference if the trial balance is not balanced choose the larger column of the trial balance8. A credit to Accounts Receivable of $250 was credited to Accounts Payable.select between yes or no
Question
The bookkeeper for Roger’s dance studio made the following errors in journalizing and posting.For each error, indicate whether the trial balance will balance; the amount of the difference if the trial balance will not balance; and the trial balance column that will have the larger total. Consider each error separately. Use the following form, in which error 1 is given as an example.ErrorIn BalanceDifferenceLarger Column1. A credit to Supplies of 600Debit2. A debit posting of 450 was debited to Supplies for 540.select between yes or no enter the amount of the difference if the trial balance is not balanced choose the larger column of the trial balance4. A credit posting of 250 and a credit posting to Cash for 1,200 of Dividends was inadvertently posted to Salaries and Wages Expense instead.select between yes or no enter the amount of the difference if the trial balance is not balanced choose the larger column of the trial balance7. A credit to Service Revenue for 250 was credited to Accounts Payable.select between yes or no
Solution
- No, $300, Debit
- No, $90, Debit
- No, $680, Credit
- No, $250, Debit
- Yes, $0, N/A
- No, $900, Debit
- No, $500, Credit
Similar Questions
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 these errors will cause the Trial Balance to be out of balance?Select one:a.All of these errors.b.Purchase of supplies for cash pf P 1,500 is posted as debit to Cash and credit to Supplies Expense.c.A collection from a customer of P250 was recorded as debit to Accounts Receivable and credit to Cash for the same amount.d.Sales on credit of P850 were recorded as debit to Accounts Receivable of P850 and credit to Sales of P580.
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If the debit and credit columns of a trial balance have the same totals, the recording and posting of entries are all guaranteed correct.Select one:TrueFalse
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