While in the Process of Posting from the Journal to the Ledger

question 82

Multiple Choice

While in the process of posting from the journal to the ledger, the accountant of X Company failed to post a $50 debit to the Office Supplies account. The effect of this error will be as follows:

• A)The total debits in the trial balance will be larger than the total credits.
• B)The error will overstate the debits listed in the journal.
• C)The trial balance will not balance.
• D)The Office Supplies account balance will be overstated.
• E)This error will not make any difference.

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Definitions:

Utility Function

A mathematical representation of how consumers derive satisfaction from goods and services, assigning numerical values to different bundles of goods.

Income

The amount of money or its equivalent received during a period of time in exchange for labor, services, or goods sold.

Price

The cost expected, demanded, or provided in money for something.

Apples

Edible fruits produced by the apple tree, known for their sweet taste and used in various culinary dishes.