effect of errors on trial balance

eBook Calculator Print Item Effect of Errors on Trial Balance The following errors occurred in posting from a two-column journal: 1. A credit of $7,490 to Accounts Payable was not posted. 2. An entry debiting Accounts Receivable and crediting Fees Earned for $12,400 was not posted. 3. A debit of $700 to Accounts Payable was posted as a credit. 4. A debit of $2,410 to Supplies was posted twice. 5. A debit of $1,610 to Cash was posted to Miscellaneous Expense. 6. A credit of $460 to Cash was posted as $640. 7. A debit of $5,820 to Wages Expense was posted as $5,280. Considering each case individually (i.e., assuming that no other errors had occurred): (a) Indicate by "yes" or "no" whether the trial balance would be out of balance. (b) If the answer to (a) is "yes", indicate the amount by which the trial balance totals would differ. (c) Indicate whether the debit or credit column of the trial balance would have the larger total. If "no", enter "o" in the difference column and select "neither" from the drop box under "Larger Total". following form, with error (1) given as an example: Tarner Total LULUI U cult column of the trial balance would have the larger total. If "no", enter "o" in the difference column and select "neither" from the drop box under "Larger To following form, with error (1) given as an example: Error Out of balance Difference Larger Total Yes $7,490 Debit No Neither 4 Yes 4 Credit Yes Drobno, + 4 Debit No Neither Yes Credit N Yes Credit Feedback Check My Work Recall that the trial balance does not provide complete proof of the accuracy of the ledger, but indicates only Check My Work