Some of the Following Errors Would Cause the Debit and Credit

question 134

Essay

Some of the following errors would cause the debit and credit columns of the trial balance to have unequal totals.
1. A payment of $700 to a creditor was recorded by a debit to Accounts Payable of $70 and a credit to Cash of $700.
2. A $340 payment for a printer was recorded by a debit to Computer Equipment of $34 and a credit to Cash for $34.
3. An account receivable in the amount of $2,000 was collected in full. The collection was recorded by a debit to Cash for $2,000 and a debit to Accounts Payable for $2,000.
4. An account payable was paid by issuing a cheque for $800. The payment was recorded by a debit to Accounts Payable $800 and a credit to Accounts Receivable $800.
Instructions
For each of the four cases, state whether the error would cause unequal totals in the trial balance. If the error causes unequal totals, indicate the amount of difference between the columns and state whether the debit or credit is larger. Each case is to be considered independently of the others.

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Definitions:

ACT Methods

Techniques and practices derived from Acceptance and Commitment Therapy, focusing on accepting negative thoughts without judgment and committing to actions that align with one's values.

Experiential Avoidance

A mental phenomenon in which people try to steer clear of thoughts, emotions, memories, and bodily sensations that cause them internal discomfort.

Mindfulness

A mental state achieved by focusing one's awareness on the present moment, while calmly acknowledging and accepting one's feelings, thoughts, and bodily sensations, used as a therapeutic technique.

Therapeutic Relationship

The professional bond between a therapist and a client, characterized by trust, respect, and mutual understanding, which facilitates the healing process.