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Spfinaccfeb 16

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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 $780 was recorded as a debit to Equipment and a credit to Cash for $780. 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. a) Original Entry Correct Entry Debit Account Amount Equipment $780 Supplies $780 Credit Account Amount Cash $780 Cash $780 The error will NOT cause the Trial Balance to be out of balance. This is because wha ...
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