The Credit Purchase of a New Oven for $4,700 Was

question 90

Multiple Choice

The credit purchase of a new oven for $4,700 was posted to Kitchen Equipment as a $4,700 debit and to Accounts Payable as a $4,700 debit.What effect would this error have on the trial balance?

• A)The total of the Debit column of the trial balance will exceed the total of the Credit column by $4,700.
• B)The total of the Credit column of the trial balance will exceed the total of the Debit column by $4,700.
• C)The total of the Debit column of the trial balance will exceed the total of the Credit column by $9,400.
• D)The total of the Credit column of the trial balance will exceed the total of the Debit column by $9,400.
• E)The total of the Debit column of the trial balance will equal the total of the Credit column.

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Definitions:

Subject Matter Jurisdiction

The authority of a court to hear and adjudicate cases of a particular type or cases relating to a specific subject matter.

Exclusive Federal

Pertains to areas of law and regulatory authority that are solely governed by the federal government, without state interference.

Concurrent Federal

The situation where federal laws or actions operate simultaneously with state laws or actions in the same area.

Long-Arm

Refers to statutes that allow for a court to exercise personal jurisdiction over an out-of-state defendant based on certain activities that occurred within the state.