Ask Question
21 February, 12:13

A journal entry for a $75 payment for Rent expense was posted as a debit to Salary expense and a credit to Cash. This error will cause which of the following conditions on the trial balance?

A. The sum of the credits will equal the sum of the debits.

B. The sum of the debits will exceed the sum of the credits by $75.

C. The sum of the credits will exceed the sum of the debits by $150.

D. The sum of the debits will exceed the sum of the credits by $150.

+3
Answers (1)
  1. 21 February, 12:25
    0
    Answer: The correct answer is a). The sum of the debits will equal the sum of the credits.

    Explanation: When a journal entry is posted as same amount to both the debit and credit it balances up in the trial balance.

    In the same vein, irrespective of the error in the ledger raised and posted in the trial balance, the sum will be equal on both the debit side and the credit side.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A journal entry for a $75 payment for Rent expense was posted as a debit to Salary expense and a credit to Cash. This error will cause ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers