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# Trial balance totals

by | Aug 11, 2021 | Assignment Help

Ila a ance ITOI’S For each of the following errors, considered individually, indicate whether the error would cause the trial balance totals to be unequal. If the errorwould cause the trial balance totals to be unequal, indicate whether the debit or credit total is higher and by how much. If the debit and credit totalswould be equal, enter zero ("0") in the amount box. a. The payment of an insurance premium of \$2,340 for a three-year policy was debited to Prepaid Insurance for \$3,240 and credited to Cash for\$2,340. Which of the following is true?v If the totals on the trial balance are not equal, by how much is one column higher than the other?\$:]b. A payment of \$2,575 on account was debited to Accounts Payable for \$1,803 and credited to Cash for \$1,803. Which of the following is true?7 If the totals on the trial balance are not equal, by how much is one column higher than the other?\$:]c. A purchase of supplies on account for \$2,850 was debited to Supplies for \$2,850 and debited to Accounts Payable for \$2,850. Which of the following is true?v If the totals on the trial balance are not equal, by how much is one column higher than the other? \$:]

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