For Each of the Following Errors, Considered Individually, Indicate Whether

question 188

Essay

For each of the following errors, considered individually, indicate whether the error would cause the trial balance totals to be unequal. If the error would cause the trial balance totals to be unequal, indicate whether the debit or credit total is higher and by how much.?
a. Payment of a cash withdrawal of $6,800 was journalized and posted as a debit of $8,600 to Salaries Expense and a credit of $8,600 to Cash.
b. A fee of $9,780 earned was debited to Accounts Receivable for $7,980 and credited to Fees Earned for $9,780.
c. A payment of $3,000 to a creditor was posted as a credit of $3,000 to Accounts Payable and a credit of $3,000 to Cash.

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Definitions:

Demand Curve

The demand curve is a graphical representation showing how the quantity demanded of a good or service varies with its price, typically sloping downward from left to right.

Excise Tax

A tax imposed on the sale of specific goods or services, such as alcohol, cigarettes, and gasoline.

SUVs

Sport Utility Vehicles, a category of motor vehicles that combine elements of road-going passenger cars with features from off-road vehicles, like increased ground clearance and all-wheel drive.

Excise Tax

A tax charged on specific goods, services, and activities, often included in the price of the product.