Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

47. a.) a Which of the following is not a normal balance? 48. Which of the following uncorrected errors would result in both assets and

image text in transcribed
47. a.) a Which of the following is not a normal balance? 48. Which of the following uncorrected errors would result in both assets and net income being overstated? $6,000 credit balance in Discount on Bonds Payable b. a $9,000 credit balance in Unearned Service Revenue c. a $1,200 debit balance in Sales Returns and Allowances d. a $10,000 debit balance in Treasury Stock a. failure to adjust Unearned Revenue to recognize revenue earned 6) failure to record depreciation for the year c. failure to accrue interest payable d. adjusting Prepaid Insurance by crediting it for an amount that is too large 49. If trial balance total debits are $72,000 and total credits are $74,700, then the error cannot be ... a, a slide b. a doubling error c. a transposition for which you can find the error by investigating each account where the difference between the first two digits of its balance is 3 d. Actually, you can find the error using a, b or c. 50. In your trial balance, total debits are $264,000 and total credits are $259,500. You have determined that the error may be a transposition and that you may find the error by investigating accounts with balances for which the difference between the first two digits is 5. Which of the follow- ing account balances could be the problem? a. Accounts Receivable, with an indicated balance of $1,600 6. Accounts Payable, with an indicated balance of $1,600 c. Land, with an indicated balance of $4,900 d. both a and c

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

Managerial Accounting And Analysis In Multinational Enterprises

Authors: H P Holzer

1st Edition

3110100819, 978-3110100815

More Books

Students also viewed these Accounting questions