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Author Question: When posting from the journal to the ledger, the accountant failed to post a 52 debit to Cash. The ... (Read 95 times)

123654777

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on: Jul 6, 2018
When posting from the journal to the ledger, the accountant failed to post a 52 debit to Cash. The effect of this error will be that the
 a. amounts in the journal will be in error.
   b. trial balance will not balance.
   c. total debits in the trial balance will be larger than the total credits.
   d. Cash account balance will be overstated.
   e. trial balance will not be affected.

Question 2

The book value of a business may or may not represent its fair market value.
 
  Indicate whether the statement is true or false


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randomguy133

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Reply #1 on: Jul 6, 2018
Answer to Question 1

b

Answer to Question 2

TRUE
Explanation: The book value of a business rarely represents its fair market value.


123654777

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Reply 2 on: Jul 6, 2018
Thanks for the timely response, appreciate it

bimper21

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Reply 3 on: Yesterday
Gracias!

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