John, a New Employee, Is Not Sure of the Effect

question 37

Essay

John, a new employee, is not sure of the effect 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 $900 cash. The debit was recorded properly, but the credit was omitted.
b. A debit to Cash for $250 was posted as $2,500; the credit was posted correctly.
c. A purchase of supplies on account for $75 was posted as a debit to Supplies and a credit to Cash.

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Definitions:

Height And Weight

Physical measurements that indicate the size and mass of a human body, often used as indicators of health and development.

Prenatal Development

The progression of maturation and advancement inside the uterus from the moment of fertilization to delivery.

Adolescence

The period of life bounded by puberty and the assumption of adult responsibilities.

Critical Period

A period of time when an instinctive response can be elicited by a particular stimulus.