Question Details

A purchase of supplies of $780 was recorded as a debit to Equipment 



1.	Indicate whether each account below has a normal debit or a normal credit balance.

a. Cash	g. Interest Receivable
b. Wages Payable	h. Store Equipment
c. Wages Expense	i.  Legal Fees Earned
d. Unearned Fees	j.  Owner's Capital
e. Prepaid Insurance	k. Depreciation Expense, Buildings
f.  Notes Payable	
2.	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.




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