Following Is a List of Errors Made During the Posting

question 123

Short Answer

Following is a list of errors made during the posting process. Indicate the exact dollar impact each error would have on (1)total assets, (2)total liabilities, and (3)owner's equity.
a)A $600 debit to the accounts payable account was posted as a $400 debit.
b)A $700 credit to cash was never posted.
c)A $2,000 debit to the withdrawals account was posted as a $2,200 debit.
d)A $1,700 credit to the revenue account was debited to the revenue account.
e)A $4,000 debit to the land account was debited to an expense account instead. $$\begin{array} { | l | l | l | l | } \hline \text { Error } & \text { Assets } & \text { Liabilities } & \text { Owner's Equity } \\\hline \text { a) } & & & \\\hline \text { b) } & & & \\\hline \text { c) } & & & \\\hline \text { d) } & & & \\\hline \text { e) } & & & \\\hline\end{array}$$

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Definitions:

Ranking Items

The process of ordering items or options according to certain criteria, allowing comparison in terms of quality, significance, or importance.

Systematic Organized Accumulation

A methodical and structured process of gathering or accumulating items or data over time.

Knowledge

Information, awareness, or familiarity gained through experience or education.

Residual Information

Data or knowledge that remains after the main information has been processed or conveyed, often providing additional insights.