A business purchased a new machine for $1,200$. The accountant debited the Machinery account for $1,200$ and credited the Cash account for $120$. How will this error affect the trial balance?
Question 2
Which of the following errors would be detected by preparing a trial balance?
Question 3
A business paid $200$ for repairs. The accountant correctly credited the Cash account for $200$ but incorrectly debited the Equipment account for $200$ instead of the Repairs Expense account. How will this error affect the trial balance?
Question 4
What is the primary purpose of an unadjusted trial balance?
Question 5
An error where a transaction is recorded in the correct class of account (e.g., an asset) but in the wrong specific account (e.g., Motor Vehicles instead of Office Equipment) is known as an:
