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    saba999's Avatar
    saba999 Posts: 29, Reputation: 1
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    #1

    May 2, 2012, 11:23 AM
    Accounting error
    Which of these errors is easiest to find and correct?

    a. Failure to record a transaction
    b. crediting Sales Revenue instead of Accounts Receivable for a payment
    c. the Accumulated depreciation balance in the debit column of a trial balance
    d. incorrect computation of the Notes Payable account balance
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    May 2, 2012, 11:28 AM
    C. Because you can see it on a trial balance. AccumulatedDepreciation is a Contra Asset account and it has a normal credit balance.

    The others would require some work into finding and correcting the error.
    saba999's Avatar
    saba999 Posts: 29, Reputation: 1
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    #3

    May 2, 2012, 02:17 PM
    Thanks very much Pready, you explain in a good way.Is this possible you can reply my few other accounting questions?
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