Current Affairs · Principles of Accounting
An accountant is preparing a trial balance. Which of the following ledger errors will cause the total of the debit column to differ from the total of the credit column?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A payment of $500 for plant repairs was correctly debited to the plant asset account and correctly credited to the bank account.
- 2A credit sale of $850 was recorded by debiting the receivables ledger account with $850 and crediting the sales account with $850, and the entire transaction was duplicated by mistake.
- 3A purchase of goods for $420 was recorded by debiting the purchases account with $420 and also debiting the payables account with $420.✓
- 4A cash receipt of $150 from a customer was completely omitted from the accounting records.
Correct answer
A purchase of goods for $420 was recorded by debiting the purchases account with $420 and also debiting the payables account with $420.
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