Identify the transposition error in the following trial balance, assuming this is the only error. Be Fabulous
Question:
Identify the transposition error in the following trial balance, assuming this is the only error.
Transcribed Image Text:
Be Fabulous Flowers Trial Balance September 30, 2020 Acct. No. Account Debit Credit $ 9,800 101 Cash. 10,350 165 Equipment. Accounts payable. Tracy Rumanko, Capital. 201 750 3,800 301 403 Consulting revenue 17,000 640 Rent expense 4,100 $24,250 $21,550 Totals
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (10 reviews)
1 Subtract total debits in the trial balance from total credits 24...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Fundamental Accounting Principles Volume I
ISBN: 978-1260305821
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
Question Posted:
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
Students also viewed these Business questions
-
Identify the errors in the following trial balance and prepare a corrected trial balance. All accounts have normal balances. Burgoo Co. Unadjusted Trial Balance For the Month Ended March 31, 2015...
-
Identify the single transposition or slide error in each of the following independent trial balances. Case A Case B Case C s 120 260 3,170 3,900 1,900 12,900 s 59 46 791 Cash Equipment Accounts...
-
Identify the trial balance error ethical issues : Michael Bunnel is an accountant for a large resti chain with a slaea of over $ 15 million . Michael is pressured ti produce financial statements for...
-
Samson Tile produces its product in two processing departments: Forming and Finishing. The following T-account shows the Forming Department's Work in Process Inventory at August 31 prior to...
-
Draw three resonance structures of sulfur dioxide (SO2). Indicate the most plausible structure(s).
-
Discuss the characteristics of antisocial youths. Do you know anyone who fits the description?
-
Explain why (i) misclassification costs are needed in this scenario, and (ii) the overall error rate is not the best measure of a good model.
-
Pineapple Motor Company manufactures two types of specialty electric motors, a commercial motor and a residential motor, through two production departments, Assembly and Testing. Presently, the...
-
Locke Data Processing reported expenses of $4.62 million for Indirect labor, of which $2.55 milion was for data arialysis and $2.07 million was for data entry. Locke recorded 30,000 hours of data...
-
Perform a similar analysis for method Loop2 shown in Algorithm 1.21. Algorithm Loop1(n): s-0 for i + 1 to n do s-s+i Algorithm Loop2(n): p-1 for i - 1 to 2n do p-p.i Algorithm Loop3(n): p-1 for i +1...
-
Identify the slide error in the following trial balance, assuming this is the only error. Body Boot Camp Trial Balance April 30, 2020 $330 Cash.. Supplies. Notes payable. Michelle Jackson, capital....
-
Prepare journal entries to record the following August 2020 transactions of a new business called For the Love of Pixels. Joseph Eagle, the owner, invested $20,000 cash and photography equipment with...
-
Consider the following data: a. Calculate the paired-samples t statistic, assuming a two-tailed test. b. Calculate the 95% confidence interval, assuming a two-tailed test. c. Calculate the effect...
-
A 10 mm thick steel plate with dimensions of 10 x 10 cm and a density of 7.85 g/cm was submerged in seawater for a period of 1 year. During this period the weight of the plate reduced by 20 grams. Kw...
-
Consider the function f(x1,x2) = x 5x1x2 + 6x at the point x = (0, 2) and search direction p = (1, 1). 1. Write down the first-order Taylor approximation to f(x + ap), where a is the step size. 2....
-
Nike Company has hired a consultant to propose a way to increase the company\'s revenues. The consultant has evaluated two mutually exclusive projects with the following information provided for...
-
What are the most effective way to manage routine and catastrophic disasters, and are they different?
-
The Wall Street Journal reported that of taxpayers with adjusted gross incomes between and itemized deductions on their federal income tax return. The mean amount of deductions for this population of...
-
Given that the straight line y = 3x + c is a tangent to the curve y = x 2 + 9x + k, express k in terms of c.
-
Is it a breach of fiduciary duty for a director of a real estate investment trust (REIT) negotiating a joint venture on behalf of the REIT with another director for the development of a portfolio of...
-
You are the accountant at Danier. Refer to Appendix III for Daniers Consolidated Balance Sheets as at June 28, 2014. Your manager has asked you to do the following: a. Calculate the current ratio,...
-
IBS Companys unadjusted trial balance on December 31, 2017, the end of its annual accounting period, is as follows: Information necessary to prepare adjusting entries is as follows: a. Employees, who...
-
On January 20, 2017, Jennifer Nelson, the staff accountant for Newby Enterprises, is feeling pressure to complete the preparation of the annual financial statements. The president of the company has...
-
You plan to buy a house for $325,000 today. If the house is expected to appreciate in value 8% each year, what will its value be seven years from now?
-
A designated beneficiary of an ABLE account must be ___________ in order to meet the special rules that apply to the increased contribution limit authorized under the Tax Cuts and Jobs Act? a. an...
-
Stans wholesale buys canned tomatoes from canneries and sells them to retail markets Stan uses the perpetual inventory
Study smarter with the SolutionInn App