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Homework answers / question archive / For each of the following errors, considered individually, indicate whether the error would cause the adjusted trial balance totals to be unequal
For each of the following errors, considered individually, indicate whether the error would cause the adjusted trial balance totals to be unequal. If the error would cause the adjusted trial balance totals to be unequal, indicate whether the debit or credit total is higher and by how much.
a. The adjustment for accrued wages of $5,200 was journalized as a debit to Wages Expense for $5,200 and a credit to Accounts Payable for $5,200.
Enter the difference between the debit and credit totals. If the totals are equal, enter a zero.
ANSWER IS ?
b. The entry for $1,125 of supplies used during the period was journalized as a debit to Supplies Expense of $1,125 and a credit to Supplies of $1,152.
Enter the difference between the debit and credit totals. If the totals are equal, enter a zero.
ANSWER IS?
Solution | |
a.) | There will be no difference between the debit and credit totals. Hence the answer is $ 0. |
b.) | The difference between the debit and credit totals is $ 27 ( 1,152 - 1,125 ). The Credit total is Higher. |