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A $155 credit item is posted as a debit. The trial balance column totals th

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A $155 credit item is posted as a debit. The trial balance column totals therefore will differ by 1. Here is the trial balance for McLeary Company: McLeary Company Trial Balance January 31, 2010 Cash $ 3,000 Accounts Receivable 2,000 Art Supplies 3,000 Office Supplies 5,000 Prepaid Rent 7,000 Prepaid Insurance 5,000 Art Equipment 5,000 Office Equipment 3,000 Accounts Payable $5,000 Art McLeary, Capital 15,000 Art McLeary, Withdrawals ? Advertising Fees Earned ? Wages Expense ? Utilities Expense 5,000 Telephone Expense 3,000 ________ $ A $ B If the trial balance showed a balance of $8,000 in the Wages Expense account and a balance of $43,000 in the Advertising Fees Earned account, what would be the amount of A? a. $63,000 b. $53,000 c. $68,000 d. $58,000 2. Here is the trial balance for McLeary Company: McLeary Company Trial Balance January 31, 2010 Cash $ 3,000 Accounts Receivable 2,000 Art Supplies 3,000 Office Supplies 5,000 Prepaid Rent 7,000 Prepaid Insurance 5,000 Art Equipment 5,000 Office Equipment 3,000 Accounts Payable $ 5,000 Art McLeary, Capital 15,000 Art McLeary, Withdrawals ? Advertising Fees Earned ? Wages Expense ? Utilities Expense 5,000 Telephone Expense 3,000 ________ $ A $ B If the trial balance showed a balance of $4,000 in the Wages Expense account and a balance of $42,500 in the Advertising Fees Earned account, what would be the amount of the Art McLeary, Withdrawals account? a. $37,500 b. $26,500 c. $17,500 d. $31,500 3. Which of the following errors will not cause the debit and credit columns of the trial balance to be unequal? a. A debit entry was recorded in the wrong account. b. A debit was entered in an account as a credit. c. The account balance was carried to the wrong column of the trial balance. d. The balance of an account was incorrectly computed. 4. The primary purpose of the trial balance is to test the a. recording of transactions. b. analysis of transactions. c. equality of debit and credit balances in the ledger. d. equality of debit and credit entries in the journal. 5. A $155 credit item is posted as a debit. The trial balance column totals therefore will differ by a. $310. b. $620. c. $155. d. $0. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

A $155 credit item is posted as a debit. The trial balance column totals th

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