Trial balance column with the larger amount

Assignment Help Accounting Basics

Reference no: EM13147900

The bookkeeper for Bullwinkle Corporation made the following errors in journalizing and posting:

1. A credit posting of $400 to accounts receivable was omitted

2. A debit positing of $750 to prepaid insurance was posted to insurance expense

3. A collection of $100 was journalized and posted as a debit to cash $100 and a credit to accounts payable $100

4. A credit posting of $300 to property tax payable was made twice

5. A cash purchase of supplies for $250 was journalized and posted as a debit to supplies $25 and credit to cash $25

6. A debit of $395 to advertising expense was posted as a debit as $359

For each error, indicate (a) whether the trial balance will not balance (b) the amount of the difference and (c) the trial balance column with the larger amount. Consider each error separately. Use the following form, in which error 1 is given as an example.

Reference no: EM13147900

Questions Cloud

How much money will be in account six years after transfer : Four years after the $13,500 deposit, half of the accumulated funds is transferred to a fund that pays 8% interest compounded quarterly. How much money will be in each account six years after the transfer?

What factors influences the size of the zone of inhibition : Why would the following statement be true or not true "a chemical disinfectant by definition should always be bactericidal."

What level of money supply should the central bank set : What level of money supply should the central bank set next year if it wants an inflation rate of 4%? What growth rate should the central bank set for the money supply if they want inflation to be steady at 2% per year?

What is different about the photopigment in the reaction : What is different about the photopigment in the reaction center, compared with other photopigments in the antenna complex?

Trial balance column with the larger amount : For each error, indicate (a) whether the trial balance will not balance (b) the amount of the difference and (c) the trial balance column with the larger amount. Consider each error separately. Use the following form, in which error 1 is given as ..

How many moles of oxygen are required : undergo combustion according to the unbalanced equation C2H6+O2=CO2+H2O how many moles of oxygen are required?

How each factor influences managerial decisions : Consider all the key drivers of performance, such as company profit or loss for both the short term and long term and how each factor influences managerial decisions. Be sure to show the calculations that helped you reach your conclusions.

Describe process used to make determination-significance : In the listed information is the findings statistically significant? Why or Why not? Describe the process used to make that determination and provide the level of significance.

State liability when we have indirect effect : Why do we have State liability when we have indirect effect? How does indirect effect work?

User Account

All Pages