Question

In: Accounting

Identify the item below that would cause the trial balance to not balance. Multiple Choice The...

Identify the item below that would cause the trial balance to not balance.

Multiple Choice

  • The purchase of office supplies on account for $3,250 was erroneously recorded in the journal as $2,350 debit to Office Supplies and $2,350 credit to Accounts Payable.

  • A $1,000 collection of an account receivable was erroneously posted as a debit to Accounts Receivable and a credit to Cash.

  • The purchase of office equipment for $1,200 was posted as a debit to Office Supplies and a credit to Cash for $1,200.

  • The cash payment of a $750 account payable was posted as a debit to Accounts Payable and a debit to Cash for $750.

  • A $50 cash receipt for the performance of a service was not recorded at all.

Solutions

Expert Solution

Identify the item that would cause the trial balance to not balance

a The purchase of office supplies on account for $3,250 was erroneously recorded in the journal as $2,350 debit to Office Supplies and $2,350 credit to Accounts Payable. Balanced
b A $1,000 collection of an account receivable was erroneously posted as a debit to Accounts Receivable and a credit to Cash. Balanced
c The purchase of office equipment for $1,200 was posted as a debit to Office Supplies and a credit to Cash for $1,200. Balanced
d The cash payment of a $750 account payable was posted as a debit to Accounts Payable and a debit to Cash for $750. Not balanced
e

A $50 cash receipt for the performance of a service was not recorded at all.

 Balanced

So answer is d) The cash payment of a $750 account payable was posted as a debit to Accounts Payable and a debit to Cash for $750.

ekkarill92 answered 2 years ago
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