The Credit Purchase of a New Oven for $4,700 Was

question 90

Multiple Choice

The credit purchase of a new oven for $4,700 was posted to Kitchen Equipment as a $4,700 debit and to Accounts Payable as a $4,700 debit.What effect would this error have on the trial balance?

• A)The total of the Debit column of the trial balance will exceed the total of the Credit column by $4,700.
• B)The total of the Credit column of the trial balance will exceed the total of the Debit column by $4,700.
• C)The total of the Debit column of the trial balance will exceed the total of the Credit column by $9,400.
• D)The total of the Credit column of the trial balance will exceed the total of the Debit column by $9,400.
• E)The total of the Debit column of the trial balance will equal the total of the Credit column.

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Definitions:

Maximize Profits

The process or strategy where a business aims to achieve the highest possible profit margin within its operation, considering constraints and market conditions.

Discriminatory Wage Differentials

Pay differences that do not reflect differences in skills, responsibilities, or performance but rather discrimination based on race, gender, or other non-performance-related factors.

Black Baseball Players

Athletes of African descent who have participated professionally in baseball leagues, highlighting their contribution to the sport's history.

Comparable

Capable of being likened or shown to be similar in nature or quality.