Question
You are told the column totals in a trial balance are not equal. After careful analysis, you discover only one error. Specifically, a correctly journalized
You are told the column totals in a trial balance are not equal. After careful analysis, you discover only one error. Specifically, a correctly journalized credit purchase of an automobile for $12,600 is posted from the journal to the ledger with an $12,600 debit to Automobiles and another $12,600 debit to Accounts Payable. The Automobiles account has a debit balance of $29,862 on the trial balance. Answer each of the following questions and compute the dollar amount of any misstatement. e. If the debit column total of the trial balance is $264,600 before correcting the error, what is the total of the credit column before correction?.
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