A trial balance has total debits of $21,000 and total credits of $25,500. Which one of the
Question:
A trial balance has total debits of $21,000 and total credits of $25,500. Which one of the following errors would create this imbalance? Explain.
1. A $4,500 debit to Salaries Expense in a journal entry was incorrectly posted to the ledger as a $4,500 credit, leaving the Salaries Expense account with a $750 debit balance.
2. A $2,250 credit to Teaching Revenue in a journal entry was incorrectly posted to the ledger as a $2,250 debit, leaving the Teaching Revenue account with a $6,300 credit balance.
3. A $2,250 debit to Rent Expense in a journal entry was incorrectly posted to the ledger as a $2,250 credit, leaving the Rent Expense account with a $3,000 debit balance.
Step by Step Answer:
To determine which error would create the given imbalance of a trial balance with total debits of 21...View the full answer
Fundamental Accounting Principles Volume 1
ISBN: 9781260881325
17th Canadian Edition
Authors: Kermit D. Larson, Heidi Dieckmann, John Harris
