By What Amount,if Any,would Each of the Following Errors Cause

question 189

Essay

By what amount,if any,would each of the following errors cause a trial balance to be out of balance?
a.A purchase of supplies of $840 was recorded as a debit to Equipment and a credit to Cash for $840.
b.An $890 balance in Prepaid Insurance was copied to the trial balance as a debit of $980.
c.A $600 balance in Accounts Payable was copied to the trial balance as a debit of $600.

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Definitions:

Permanent Nature

The intrinsic and enduring characteristics of something, implying that it remains unchanged over time.

Supplier Strategic Alliances

Partnerships formed between companies and their suppliers to achieve strategic goals, enhance competitiveness, and secure supply chains.

Preferred Supplier-Customer Relationships

Business arrangements where mutual benefits are derived from long-term associations between suppliers and their key customers, often characterized by trust and cooperation.

Quality Supplies

Materials or goods of high standard or grade used in the production of products or in the provision of services.