For Each of the Following Errors, Indicate on the Schedule

question 53

Essay

For each of the following errors, indicate on the schedule the amount it will cause the trial balance to be out of balance and which trial balance column (i.e., debit or credit) will have the larger total as a result of the error.(a) A $100 debit to Cash was debited to the Cash account twice.(b) A $1,900 credit to Sales was posted as a $190 credit.(c) A $5,000 debit to Office Equipment was debited to Office Supplies.(d) A $625 debit to Prepaid Insurance was posted as a $62.50 debit.(e) A $520 debit to Supplies (purchased on account) was posted correctly, but the corresponding credit to Accounts Payable was not posted.

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Definitions:

Attribution Theory

A social psychology theory that explains how individuals infer the causes of their own and others' behavior and events.

Fundamental Attribution Error

A cognitive bias where people are more likely to attribute another's actions to their character or personality, while overlooking potential situational influences.

Explanations

The process of making something clear or understandable, often involving the provision of reasons, causes, or justifications.

Effectiveness

The degree to which something is successful in producing a desired result or outcome; in a second definition, the capability of producing the intended result or achievement of objectives.