In Which of the Following Situations Would the Trial Balance

question 60

Multiple Choice

In which of the following situations would the trial balance not balance?

• A) A $1,000 collection of an account receivable was incorrectly posted as a debit to Accounts Receivable and a credit to Cash.
• B) The purchase of office supplies on account for $3,250 was incorrectly recorded in the journal as $2,350.
• C) $50 cash receipt for the performance of a service was not recorded.
• D) The purchase of office equipment for $1,200 was posted as a debit to Office Supplies.
• E) The payment of a $750 account payable was posted as a debit to Accounts Payable and a debit to Cash for $750.

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Definitions:

Trade

The exchange of goods, services, or both between two or more parties.

Numeraire Good

An economic term referring to a benchmark commodity or asset used to compare the value of other goods or assets.

Utility Function

A utility function is a mathematical representation used in economics to model satisfaction or preference regarding goods or services by consumers.

Initial Endowment

The initial amount of resources, wealth, or goods that an individual or entity possesses at the start of a period.