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Identify each of the following accounts of Kaiser Services Co. as asset, liability, stockholders' cquity, revenue, or expense, and state in each case whether the
Identify each of the following accounts of Kaiser Services Co. as asset, liability, stockholders' cquity, revenue, or expense, and state in each case whether the normal balance is a debit or a credit. a. Accounts Payable f. Fees Earned b. Accounts Receivable g. Office Equipment Cash h. Rent Expense a Common Stock i. Supplies e Dividends j. Wages Expense Exercise 2-19 (page 89) (Adapted) Effect of errors on trial balance The following errors occurred in posting from a two-column journal: 1. A credit of $6,000 to Accounts Payable was not posted. 2. An entry debiting Accounts Receivable and crediting Fees Earned for $5,300 was not posted. 3. A debit of $2,950 to Accounts Payable was posted as a credit. 4. A debit of $480 to Supplies was posted twice. 5. A debit of $3,600 to Cash was posted to Miscellaneous Expense. 6. A credit of $780 to Cash was posted as $700. 7. A debit of $12,520 to Wages Expense was posted as $12,250 Considering each case individually (i.e., assuming that no other errors had occurred), indicate: (a) by "yes" or "no" whether the trial balance would be out of balance; (b) if answer to (a) is "yes," the amount by which the trial balance totals would differ, and (c) whether the Debit or Credit column of the trial balance would have the larger total. Answers should be presented in the following form, with error (1) given as an example
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