Study the error situations listed below and indicate whether they would or would not cause the trial balance to be out of balance. If you decide that the trial balance would be out of balance, state by how much.
A. A payment for equipment was recorded as a debit of $395 to Equipment and a credit of $359 to Bank.
Will the Trial Balance balance?
__________, if no, the Trial Balance will be out of balance by how much?
__________ (if yes, select --)
B. Cash received from a customer was recorded as a debit of $180 to Bank and a credit of $180 to Accounts Payable.
Will the Trial Balance balance?
__________, if no, the Trial Balance will be out of balance by how much?
__________ (if yes, select --)
C. A credit of $300 to the Capital account was recorded twice.
Will the Trial Balance balance?
__________, if no, the Trial Balance will be out of balance by how much?
__________ (if yes, select --)
D. An account balance of $140 was transferred to the wrong side of the trial balance.
Will the Trial Balance balance?
__________, if no, the Trial Balance will be out of balance by how much?
__________ (if yes, select --)
E. A payment of $495 to a creditor was recorded as a debit to Accounts Payable of $495 and a credit to Bank of $49.
Will the Trial Balance balance?
__________, if no, the Trial Balance will be out of balance by how much?
__________ (if yes, select --)
F. An amount of $50 was debited to Supplies, but it should have been debited to Equipment.
Will the Trial Balance balance?
__________, if no, the Trial Balance will be out of balance by how much?
__________ (if yes, select --)