Explain how each of the following posting errors affects a trial balance. State whether the trial balance
Question:
a. A $1,040 debit to Office Supplies was debited to Office Supplies Expense.
b. A $400 debit to Cash was posted as a $4,000 debit.
c. An $800 credit to Unearned Revenue was credited to Service Revenue.
d. A $2,400 credit to Accounts Payable was not posted.
e. An $800 debit to Rent Expense was posted twice.
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
Question Posted: