A trial balance will indicate the existence of an error if: a The purchase of a typewriter for $870 is entered in the accounting records as a debit of $87 to Office Equipment and a credit of $87 to Accounts Payable. b The collection of $75 cash is recorded by a debit to Accounts Receivable and a credit to Cash. c A journal entry debiting Equipment is posted as a debit to the Building account. d A ledger account with a credit balance is listed as a debit amount in the trial balance.
A trial balance will indicate the existence of an error if: a The purchase of a typewriter for $870 is entered in the accounting records as a debit of $87 to Office Equipment and a credit of $87 to Accounts Payable. b The collection of $75 cash is recorded by a debit to Accounts Receivable and a credit to Cash. c A journal entry debiting Equipment is posted as a debit to the Building account. d A ledger account with a credit balance is listed as a debit amount in the trial balance.
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter11: Accounting For Transactions Using A General Journal
Section: Chapter Questions
Problem 1AFE
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A
a The purchase of a typewriter for $870 is entered in the accounting records as a debit of $87 to Office Equipment and a credit of $87 to Accounts Payable.
b The collection of $75 cash is recorded by a debit to Accounts Receivable and a credit to Cash.
c A
d A ledger account with a credit balance is listed as a debit amount in the trial balance.
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