Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(A) Payment of a cash dividend $6,800 was journalized and posted as a debit of $8,600 to Salaries Expense and a credit of $8,600 to

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
(A) Payment of a cash dividend $6,800 was journalized and posted as a debit of $8,600 to Salaries Expense and a credit of $8,600 to Cash. 1. As a result of the error, is the trial balance debit or credit total higher or Not Different? O Debit total is higher O Credit total is higher The debit and credit totals are not different. Question 7 2. As a result of the error, how much do the debit or credit totals on the trial balance differ OR do they not differ at all? O Equal to or between $1-500 O. Equal to or between $501-1,000 O Equal to or between $1,001-1,500 O Equal to or between $1,501-2,000 O Equal to or between $2,001-5,000 O Equal to or between $5,001-6,000 The debit and credit totals are not different.2. As a result of the error, how much do the debit or credit totals on the trial balance differ OR do they not differ at all? O Equal to or between $1-500 O Equal to or between $501-1,000 O Equal to or between $1,001-1,500 O Equal to or between $1,501-2,000 O Equal to or between $2,001-5,000 O Equal to or between $5,001-6,000 O The debit and credit totals are not different.Question 10 (C) A payment of $3,000 to a creditor was posted as a credit of $3,000 to Accounts Payable and a credit of $3,000 to Cash. 1. As a result of the error, is the trial balance debit or credit total higher or Not Different? O Debit total is higher O Credit total is higher The debit and credit totals are not different.Question 8 0.75 pts (B) A fee of $9,780 earned was debited to Accounts Receivable for $7,980 and credited to Fees Earned for $9,780. 1. As a result of the error, is the trial balance debit or credit total higher or Not Different? O Debit total is higher O Credit total is higher The debit and credit totals are not different.2. As a result of the error, how much do the debit or credit totals on the trial balance differ OR do they not differ at all? O Equal to or between $1-500 O Equal to or between $501-1,000 O Equal to or between $1,001-1,500 O Equal to or between $1,501-2,000 O Equal to or between $2,001-5,000 O Equal to or between $5,001-6,000 O The debit and credit totals are not different

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

Introduction To Financial Accounting

Authors: Charles T Horngren, Gary L Sundem

10th Edition

136122973, 978-0136122975

More Books

Students also viewed these Accounting questions