Question

In: Accounting

Which of the following errors would cause the adjusted trial balance to not​ balance? A. posting...

Which of the following errors would cause the adjusted trial balance to not​ balance?

A.

posting the debit for accrued interest to insurance expense

B.

reversing the debits and credits in an adjusting entry

C.

failure to post one side of a journal entry

D.

omitting the adjusting entry for depreciation expense

2.

Permanent accounts do not include​ ________.

A.

Rent Expense

B.

Interest Receivable

C.

Prepaid Insurance

D.

Taxes Payable

Solutions

Expert Solution

Question 1

Correct answer------------(C) failure to post one side of a journal entry.

All other errors will not make trial balance unmatched.

If one side of entry is missing then that side will be short hence the error will be reflected.

Question 2

Correct answer------------(A) Rent Expense

.

Rent expense is closed at the end of the period to retained earnings.

All accounts stated above except rent expense are permanent account.

All permanent accounts are basically balance sheet sheet accounts and all temporary accounts appear in income statement account.

ekkarill92 answered 2 years ago
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