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Chapter 2 Analyzing Transactions
Obj.4
YEX2-16Trial balance VTotal of Credit column $3,260,000 has been intentionally omitted Accounts Payable Accounts Receivable SHOW ME NOW Cash Common Stock Dividends Fees Earned Insurance Expense Land Miscellaneous Expense
Notes Payable 25.000 $92400 Prepaid Insurance 21,600 483,600 Rent Expense 140,000 Retained Earnings 311,600 75,000 3,975 24,000 Supplies Supplies Expense 11,200 2,750,000 Unearned Rent 6,000 9,000 Utilities Expense 49,100 50,000 Wages Expense 2,250,000 10,200
the missing figure for cash.
Obj.4 EX 2-17 Effect of errors on trial balance Indicate which of the following errors, cach considered individually, would cause the tral balance totals to be unequal: A.A fee of S21.000 earned and due from a client was not debited to Accounts Receivable or credited to a revenue account,because the cash had not been received. B. A receipt of $11,300 from an account receivable was journalized and posted as a debit of $11,300 to Cash and a credit of $11,300 to Fees Earned. C. A payment of S4,950 to a creditor was posted as a debit of $4,950 to Accounts Payable and a debit of $4.950 to Cash D.A payment of $5,000 for equipment purchased was posted as a debit of S500 to Equipment and a credit of $500 to Cash. E Payment of cash dividends of $19,000 was journalized and posted as a debit of $1.900 to Salary Expense anda credit of $19.000 to Cash. Indicate which of the preceding errors would require a correcting entry.
