monaliz_20
Jul 3, 2007, 08:18 AM
I am confused with this part of my homework.. here it is...
The bookkeeper for Stan Tucci Equipment repair made a number of errors in journalizing and posting, as described below.
1.A debit posting of $750 for prepaid insurance was debited to insurance expense.
2. A cash purchase of supplies for $250 was journalized and posted as a debit to supplies $25 and a credit to cash $25
Instruction:
For each error:
a.) indicate whether the trial balance will balance
b.)if the trial balance will not balance, indicate the amount of difference
c.)indicate the trial balance column that will have the larger total
The bookkeeper for Stan Tucci Equipment repair made a number of errors in journalizing and posting, as described below.
1.A debit posting of $750 for prepaid insurance was debited to insurance expense.
2. A cash purchase of supplies for $250 was journalized and posted as a debit to supplies $25 and a credit to cash $25
Instruction:
For each error:
a.) indicate whether the trial balance will balance
b.)if the trial balance will not balance, indicate the amount of difference
c.)indicate the trial balance column that will have the larger total





