Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. a $100 payment for rent expense was mistakenly posted as a debit to supply expense (the credit was correct) what was the impact on

1. a $100 payment for rent expense was mistakenly posted as a debit to supply expense (the credit was correct) what was the impact on the trial balance
A. The credit total is off by $100
B. The debit total is off by $100
C. No impact on the trial balance
D. Once all cash has been received
2. Which is these have a remaining balance after the closing process is completed?
A. Service revenue
B. Withdrawals
C. Accumulated depreciation
D. Depreciation expense

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Core Concepts of Accounting Information Systems

Authors: Mark G. Simkin, Jacob M. Rose, Carolyn S. Norman

12th edition

1118022300, 978-1118022306

More Books

Students also viewed these Accounting questions