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Given each of the following errors,indicate on the table below the amount by which the trial balance will be out of balance and which trial balance column (debit or credit)will have the larger total as a result of the error.
a.$100 debit to Cash was debited to the Cash account twice.
b.$1,900 credit to Sales was posted as a $190 credit.
c.$5,000 debit to Office Equipment was debited to Office Supplies.
d.$625 debit to Prepaid Insurance was posted as a $62.50 debit.
e.$520 credit to Accounts Payable was not posted.
Statement Of Cash Flows
A financial report that summarizes the amount of cash and cash equivalents entering and leaving a company.
Operating Activities
The day-to-day activities of a business that are directly related to its principal revenue-generating operations, such as sales and service delivery.
Indirect Method
A cash flow statement reporting approach that adjusts net income for changes in non-cash accounts to compute cash flow from operating activities.
Comparative Balance Sheet
A financial statement that displays a company's financial position at different points in time side-by-side, facilitating period-to-period comparison.
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