The Total of the Debit Column of the Trial Balance

question 57

Multiple Choice

The total of the debit column of the trial balance exceeds that of the credit column by $27.Which of the following errors could NOT have caused this?

• A) a credit of $13.50 inadvertently posted to the debit of the account concerned
• B) an item of $27 debited,but not credited to any account
• C) omission of a credit purchase of $27 from the journal
• D) in posting a transaction to the ledger,the credit was correctly recorded as $36,but the debit was recorded as $63.

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Definitions:

Inflation

A general increase in prices and fall in the purchasing value of money.

Monetary Growth

An increase in the money supply in an economy over time, which can influence inflation and economic activity.

Government Surplus

The situation where a government's income from taxes and other sources exceeds its expenditure over a specified period.

Keynesians

are economists or adherents of the economic theories of John Maynard Keynes, who advocated for government intervention in markets to mitigate the adverse effects of economic cycles.