ACCA Applied Knowledge · Financial Accounting · Trial balance
Which one of the following errors would NOT cause the trial balance totals to disagree?
An error where both the debit and credit are posted with the same incorrect amount, such as $5,000 instead of $500, does not affect the trial balance. Debits still equal credits. Single-sided entries, by contrast, always produce a difference in the totals.
- AA purchase of $500 was debited to the purchases account as $5,000 and credited to the payables control account as $5,000Correct
- BA credit sale of $800 was recorded by debiting receivables with $800 only
- CRent paid of $300 was credited to the bank account but not debited to any account
- DA cash receipt of $200 was debited to bank but credited to nothing
Explanation
In option A the same wrong amount of $5,000 was used for both the debit and the credit, so the totals remain equal even though both accounts are overstated. In B, C and D only one side of the entry was posted, so the trial balance would be out of balance.
Did you get it right without looking?
One question tells you little. A timed set on Trial balance shows your real accuracy, how long you take and where you lose marks.
More Trial balance questions
- On which side of a trial balance would each of these balances normally appear: drawings, trade payables, and allowance for receivables?
- Which of the following is an error that a trial balance will NOT reveal?
- Which one of the following balances would normally appear on the credit side of a trial balance?
- At 31 December, Kestrel Co has these balances: Receivables $48,000; Allowance for receivables $2,500; Payables $31,000; Bank overdraft $6,20…
- A trial balance for Delta Co balanced. Later it was found that (1) a $900 payment of electricity was debited to the rent account, and (2) sa…
- A bookkeeper paid $1,200 for office repairs by debiting the machinery (non-current asset) account and crediting the bank account. Which desc…