Trial Balance | Answers
Place Balances in the Correct Column
Account
Cash
Furniture
Accounts Receivable
Electricity Expense
Capital
Sales
Accounts Payable
Totals
Cash
Furniture
Accounts Receivable
Electricity Expense
Capital
Sales
Accounts Payable
Totals
Debit
3,200
1,000
600
300
5,100
3,200
1,000
600
300
5,100
Credit
4,000
1,500
600
6,100
4,000
1,500
600
6,100
The trial balance does NOT balance.
Identify Errors
Total Debits = 7,500 and Total Credits = 7,500
➛ Correct | Dr = Cr
Total Debits = 4,800 and Total Credits = 5,200
➛ Incorrect | not equal
The Cash account (Debit) was mistakenly placed in the Credit column
➛ Incorrect | Cash is a debit account
Electricity Expense was left out of the trial balance
➛ Incorrect | All accounts must be included
Capital account was placed on the Debit side instead of Credit
➛ Incorrect | Capital always has a credit balance
Accounting Errors & Suspense Accounts ➧ Here