After Preparing an (Unadjusted)trial Balance at Year-End,G

question 31

Essay

After preparing an (unadjusted)trial balance at year-end,G.Chu of Chu Design Company discovered the following errors:
1.Cash payment of the $225 telephone bill for December was recorded twice.
2.Cash payment of a note payable was recorded as a debit to Cash and a debit to Notes
Payable for $1,000.
3.A $900 cash dividend was recorded to the correct accounts as $90.
4.An additional investment of $5,000 cash by the owner was recorded as a debit to Common
Stock and a credit to Cash.
5.A credit purchase of office equipment for $1,800 was recorded as a debit to the Office
Equipment account with no offsetting credit entry.
Using the form below, indicate whether the error would cause the trial balance to be out of balance by placing an X in either the yes or no column.
$$\begin{array} { | c | l | l | l | } \hline \text { Error } & \text { Yes }\quad\quad &\quad\quad\quad\quad & \text { No }\quad\quad\\\hline 1 . & & & \\\hline 2 . & & & \\\hline 3 . & & & \\\hline 4 . & & & \\\hline 5 . & & & \\\hline\end{array}$$

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Definitions:

Simultaneous-Move

Refers to games or decision scenarios where all players make their moves at the same time, without knowledge of the others' choices.

Loss

Loss refers to the situation in which the total costs exceed the total revenues of a business or transaction, resulting in a negative profit.

Simultaneous-Move

A strategy in game theory where all players make their moves at the same time, unaware of the choices other players are making.

Mixed Strategy

In game theory, a strategy where a player can choose between multiple options with certain probabilities.