Posting errors are identified in the following table. In column (1), enter the amount of...
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Accounting
Posting errors are identified in the following table. In column (1), enter the amount of the difference between the two trial balance columns (debit and credit) due to the error. In column (2), identify the trial balance column (debit or credit) with the larger amount if they are not equal. In column (3), identify the account(s) affected by the error. In column (4), indicate the amount by which the account(s) in column (3) is under- or overstated. Item (a) is completed as an example. (Select "None" if there is no effect.) Difference betweenColumn Debit and with the Identify Account(s) Incorrectly Stated Description of Posting Error Amount That Account(s) Over-or Understated Larger Credit Total Columns $2,710 debit to Rent Expense is posted as a $2,170 debit. $5,420 credit to Cash is posted twice as two credits to Cash $ 540 Credit Rent Expense Rent Expense is understated by $540 $10,840 debit to the Withdrawals account is debited to Owner's Capital . d$2,560 debit to Prepaid Insurance is posted as a debit to Insurance Expense $47,425 debit to Machinery is posted as a debit to Accounts Payable $6,320 credit to Services Revenue is posted as a $632 credit. $1,750 debit to Store Supplies is not posted 9
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