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: 55% (9 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).
-
Why does convertible debt carry a lower coupon than straight debt?
-
(Appendix) Recording Purchase Transactions} Refer to the information for Jeet Company in Cornerstone Exercise 6-18 above and assume that Jeet uses a periodic inventory system. \section*{Required:} 1....
-
Drew Rosen Corp is considering adding a fourth plant to its three existing facilities in Decatur, Minneapolis, and Carbondale. Both St. Louis and East St. Louis are being considered. Evaluating only...
-
Continuity of a Function [-1 if x0 not. (Answer: f is not continuous at 0) 2. Let f(x)= x if x*0,F 1 if x=0. " For each real number a, determine whether f is continuous or discontinuous at a....
-
A man fires at a target six times; the probability of his hitting it each time is independent of other tries and is 0.40. (a) What is the probability that he will hit at least once? (b) How many...
-
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...
-
Susan Applies for a Loan Susan Spiffy, owner of Spiffy Cleaners, a drive-through dry cleaners, would like to expand her business from its current location to a chain of cleaners. Revenues at the one...
-
PHY132-02, Spring, '22; test 3; NAME:_ 4)An AC circuit Suppose I have a series AC circuit with a 2 mH inductor, and a 5 F capacitor. a) What is the resonant frequency, f, for this circuit assuming...
-
What outside entity cares enough to initiate, conduct, and oversee a diplomatic solution in DRC? How effective are current mechanisms in place for the representation of Indigenous populations in...
-
Are there effective strategies/policies that could mitigate the impact of climate change on more vulnerable communities? Explain the key aspect of bureaucratic decision-making within the federal...
-
Find the coordinates at times t = 0, 2, 7 of a particle following the path = 2t3 7, y 8-4t. t = 0: t = 2: t = 7:
-
Your lecturer is a funny guy; given an unsorted list of integer numbers of n elements, and to find the largest number in the list, he will first initialize a variable, let's say max, to the smallest...
-
Data 1.3 on page 10 discusses a study designed to test whether applying metal tags is detrimental to penguins. One variable examined is the survival rate 10 years after tagging. The scientists...
-
Differentiate the following terms/concepts: a. Personality types and money attitudes b. Planners and avoiders c. Moderating and adapting to biases d. "Perfectible judges" and "incorrigible judges"
-
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...
-
Help! Prepare the adjusting entries for the month of June. ( List all debit entries before credit entries. If no entry is required, select " No Entry" for the account titles and enter 0 for the...
-
Greenhill Company's balance sheet as of December 3 1 , Year 1 is provided below: In anticipation of preparing the company's operating budget for the upcoming period, the company's accountant has...
-
QUESTION 2 [ 2 0 MARKS ] The information below was extracted from the books of Oriental Enterprises for January 2 0 2 1 2 0 2 1 January 1 Credit sales to: B Yaone P 2 , 4 0 0 ; M Seithamo P 1 , 2 6 0...
Study smarter with the SolutionInn App