Julie,a New Employee,is Not Sure of the Effect the Following

question 10

Essay

Julie,a new employee,is not sure of the effect the following unrelated situations would have on the accuracy of the financial statements.Identify the account(s)that are affected and if the trial balance would balance.
a.Equipment was purchased for $1,000 cash.The debit was recorded properly,but the credit was omitted.
b.A debit to Cash for $250 was posted as $2,500;the credit was posted correctly.
c.A purchase of supplies on account for $50 was posted as a debit to Supplies and a credit to Cash.

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Definitions:

Deep Canyon

A profound and narrow valley with steep sides, carved by a river, glacier, or geological processes over time.

Permeable Rocks

Rocks that allow water to pass through them due to their porous nature.

Impermeable Rocks

Geological formations that do not allow fluids, like water or oil, to pass through them due to their tight structure.

Tidal Barrier

A structure built at the mouth of a river or in a tidal area, aimed at protecting low-lying areas from flooding due to high tides or storm surges.