Question

While in the process of posting from the journal to the ledger, a company failed to post a $500 debit to the equipment account. the effect of this error will be that?

Answer 1

While in the process of posting from the journal to the ledger, a company failed to post a $500 debit to the equipment account. the effect of this error will be that the trial balance will not balance. Option E

This is further explained below.

What is an equipment account.?

Generally, The cost of the equipment is reported through an accrued liabilities or long-term asset account known as the equipment account.

In conclusion, A corporation made a critical error while they were uploading transactions from the journal to the ledger because they forgot to report a debit of $500 to the equipment account.

The trial balance will not be accurate as a result of this error because it will throw off the calculations. Option E

Read more about the equipment account

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complete question

While in the process of posting from the journal to the ledger, a company failed to post a $500 debit to the Equipment account. The effect of this error will be that:

Multiple Choice

The Equipment account balance will be overstated.

The error will overstate the credits listed in the journal.

The total debits in the trial balance will be larger than the total credits.

The error will overstate the debits listed in the journal.

The trial balance will not balance.