Given the Following Errors, Identify the One by Itself That

question 135

Multiple Choice

Given the following errors, identify the one by itself that will cause the trial balance to be out of balance.

• A) A $200 cash salary payment posted as a $200 debit to Cash and a $200 credit to Salaries Expense.
• B) A $75 cash receipt from a customer in payment of her account posted as a $75 debit to Cash and a $75 credit to Cash.
• C) A $100 cash receipt from a customer in payment of her account posted as a $100 debit to Cash and a $10 credit to Accounts Receivable.
• D) An $800 prepayment from a customer for services to be rendered in the future was posted as an $800 debit to Unearned Revenue and an $800 credit to Cash.
• E) A $50 cash purchase of office supplies posted as a $50 debit to Office Equipment and a $50 credit to Cash.

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Definitions:

Interest Rate

The proportion of the main amount that is charged by the creditor for borrowing their money, or the interest earned on funds that are deposited.

Payments

Transactions involving the transfer of money from one party to another as a form of compensation for goods, services, or obligations.

Future Value

The projected value of an investment or an asset at a specific date in the future, taking into account factors like interest rates or returns.

Interest Rate

An interest rate is the percentage charged on the total amount of borrowed money, or paid on deposited funds, over a specific period of time.