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Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit
Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3), identify the account(s) affected by the error In column (4), indicate the amount by which the account(s) in column (3) is under- or overstated. Item (a) is completed as an example (Select "None" if there is no effect.) (1) (2) Difference Column Description of Posting Error between Debit and Credit Columns Larger Total with the (3) Identify Account(s) Incorrectly Stated (4) Amount of account over- or understatement a $2,970 debit to Rent Expense is posted as a $2,790 debit $ 180 Credit Rent Expense Rent Expense is understated by $180 b. $5.940 credit to Cash is posted twice as two credits to Cash c $2,820 debit to Prepaid Insurance is posted as a debit to Insurance Expense d. $51,975 debit to Machinery is posted as a debit to Accounts Payable $6.840 credit to Services Revenue is posted as a $684 credt t $2,010 debit to Store Supplies is not posted
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