Question
will the trial balance still balance? Consider each error separately. If you determine that the trial balance will not balance as a result of the
will the trial balance still balance? Consider each error separately.
If you determine that the trial balance will not balance as a result of the error, then answer the following questions:
- What is the amount of the difference between the two columns of the trial balance?
- Which trial balance column (debit or credit) will become incrementally larger?
Statement of ProblemWill the trial balance still balance?What is the amount of the difference?Which trial balance column will become incrementally larger?The $500 balance ofSuppliesin thegeneral ledgerwas omitted from the trial balance.Yes
No
$
Debit
Credit
A credit entry toAccounts Payablefor $675 was posted twice.Yes
No
$
Debit
Credit
A payment of $230on accountfor supplies previously purchased was recorded as a debit to Accounts Payable for $320 and a credit toCashfor $320.Yes
No
$
Debit
Credit
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