When the Trial Balance Includes a Debit Column Total of $14,350

question 125

Multiple Choice

When the trial balance includes a debit column total of $14,350 and a credit column total of $15,350, it is probable that

• A) a transposition error occurred.
• B) a $500 debit was recorded twice.
• C) a $500 credit was recorded twice.
• D) a $500 debit was recorded as a credit.

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Definitions:

British East India Company

A historical English company formed for the exploitation of trade with East and Southeast Asia and India, incorporated by royal charter in 1600.

American Colonies

The British territories in North America that declared independence in 1776 to form the United States of America.

Massachusetts Assembly

A legislative body in the state of Massachusetts with a history dating back to colonial times, responsible for creating state laws.

Events of 1767

The events of 1767 refer to specific historical occurrences within that year, notable for various political, social, and cultural developments globally.