Exercise 2-13 The bookkeeper for Brooks Equipment Repair made a number of errors

Question

Exercise 2-13 The bookkeeper for Brooks Equipment Repair made a number of errors in journalizing and posting, as described below For each error: (a) Indicate whether the trial balance will balance (b) If the trial balance will not balance, indicate the amount of the difference (c) Indicate the trial balance column that will have the larger total. Error Larg 1 A credit posting of $565 to Accounts Recivable was omitted 2. A debit posting of $930 for Prepaid Insurance was debited to Insurance Expense. 3. A collection from a customer of S150 in payment of its account owed was journalized and posted as a debit to Cash SISO and a credit to Service Revenue SIS 4. A credit posting of $335 to Property Taxes Payable was made twice. 5. A cash purchase of supplies for $950 was journalized and posted as a debit to Supplies $95 and a credit to Cash $95 6. A debit of $552 to Advertising Expense was posted as $52s Question Attempts: 0 of 2 used SAVE FOR LATER vacy Policy Inc. Version 4.24

Explanation / Answer

a b c No In Difference large Balance Column 1 no $565 Debit 2 yes 0 none 3 yes 0 credit 4 no 335 Credit 5 no 855 none 6 no 27 credit

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