A Journal Entry for a $65 Payment for Rent Expense

question 134

Multiple Choice

A journal entry for a $65 payment for rent expense was posted as a debit to Salaries Expense and a credit to Cash. Which of the following statements correctly states the effect of the error 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 $65.
• C) The sum of the debits will exceed the sum of the credits by $130.
• D) The sum of the credits will exceed the sum of the debits by $130.

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Definitions:

Collaboration

The process where two or more people, teams, or organizations work together to achieve a common goal, often involving sharing knowledge, learning, and building consensus.

Teleconferencing

The use of telecommunication devices to hold meetings or presentations with participants in different locations.

Videopresence

A technology that enables users to participate in video conferences or virtual meetings, making remote communication more engaging and realistic.

Telecommuting

The practice of working from a remote location, outside of a traditional office environment, often from home, using telecommunication tools.