Effect of Errors on Trial Balance The following errors occurred in posting from

Question

Effect of Errors on Trial Balance The following errors occurred in posting from a two-collumn journal: 1. A credit of $6,000 to Accounts Payable was not posted 2. An entry debiting Accounts Receivable and crediting Fees Earned for $5,300 was not posted. 3. A debit of $2,700 to Accounts Payable was posted as a cret 4. A debit of $480 to Supplies was posted twice. 5. A debit of $3,600 to Cash was posted to Miscellaneous Expense 6. A credit of $780 to Cash was posted as$870. 7. A debit of $12,620 to wages Expense was posted as $12,260. (i.e., assuming that no other errors had occurred), indicate: by "yes" or-0,hether the trial balance would be out or balance, ir the answer is "yes," the "0" in the difference column and amount by which the trial balance totals would differ; and whether the Debit or Credit column of the trial balance would have the larger total. If "no", enter select 'neither" from the drop box under "Larger Totalr. Enter all amounts as positive numbers. Answers should be presented in the folowing form, with error (1) oiven as an example ErrorOut of Balance Larger Total Yes $6,000 Debit 2. 5. 6. 7,

Explanation / Answer

Error

Out of balance

Difference

large total

1-

Yes

6000

Debit

2-

No

0

neither

3-

yes

5400

credit

4-

yes

480

debit

5-

no

0

neither

6-

yes

90

credit

7-

yes

360

credit

Error

Out of balance

Difference

large total

1-

Yes

6000

Debit

2-

No

0

neither

3-

yes

5400

credit

4-

yes

480

debit

5-

no

0

neither

6-

yes

90

credit

7-

yes

360

credit

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