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Author Question: Which of the following errors, each considered individually, would cause the trial balance totals to ... (Read 61 times)

azncindy619

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on: Jul 5, 2018
Which of the following errors, each considered individually, would cause the trial balance totals to be unequal?
 a. A transaction was not posted.
  b. A payment of 67 for insurance was posted as a debit of 76 to Prepaid Insurance and a credit of 76 toCash.
  c. A payment of 4,450 to a creditor was posted as a debit of 4,500 to Accounts Payable and a credit of 450to Cash.
  d. Cash received from customers on account was posted as a debit of 720 to Cash and a credit of 720 toAccounts Payable.

Question 2

The external financial statementsfor itsCapital Projects Funds of a governmental entity may include the following except
 
  A. A budget-to-actual statement of revenues, expenditures, and changes in fund balance.
  B. A statement of revenues, expenditures, and changes in fund balance.
  C. A statement of cash flows.
  D. Balance Sheet.


cat123

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Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

C


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