Karen Brown, a Student in Your Class, Is Not Sure

question 151

Essay

Karen Brown, a student in your class, is not sure the effect of the following unrelated situations would have on the accuracy of the financial statements. Identify the account(s) that are affected and if the trial balance would balance.
(a) Equipment was purchased for $1,500 cash. The debit was recorded properly, but the credit was omitted.
(b) A debit to cash for $69 was posted as $96; the credit was posted correctly.
(c) A purchase of supplies on account for $300 was posted as a debit to equipment and a credit to cash.

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Definitions:

Heart Muscle

The cardiac muscle tissue of the heart responsible for the contraction and relaxation that enables the heart to pump blood throughout the body.

Blood Flow

The movement of blood through the circulatory system, delivering nutrients and oxygen to tissues and organs.

Epicardium

The outermost layer of the heart's wall, serving as a protective layer and a part of the heart's electrical conduction system.

Outermost Layer

The external layer of an object or structure, which is the farthest from its center or core.