A Journal Entry for a $70 Payment for Rent Expense

question 82

Multiple Choice

A journal entry for a $70 payment for rent expense was posted as a debit to Salaries expense and a credit to Cash.This error will cause which of the following conditions on the trial balance?

• A)The sum of the credits will equal the sum of the debits.
• B)The sum of the debits will exceed the sum of the credits by $140.
• C)The sum of the credits will exceed the sum of the debits by $140.
• D)The sum of the debits will exceed the sum of the credits by $70.

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Definitions:

Reactant Formation

The process in a chemical reaction where substances (reactants) combine or change to produce new substances (products).

Equilibrium

A state of physical balance or stability, or the condition in which all competing influences are balanced in a chemical reaction or in a market.

Kinetic Energy

Motion energy or energy that can do work.

Potential Energy

Energy in a chemical bond that is not being exerted or used to do work.