The credit purchase of a new oven for $6,500 was posted to Kitchen Equipment as a $6,500 debit and to Accounts Payable as a $6,500 debit. What effect would this error have on the trial balance

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18-07-2022
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The credit purchase of a new oven for $6,500 was posted to Kitchen Equipment as a $6,500 debit and to Accounts Payable as a $6,500 debit. What effect would this error have on the trial balance

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okpalawalter8 okpalawalter8 · Answer 1 · 2022-07-19T17:44:49+02:00

The effect this error would have on the trial balance would be when the trial balance is completed, the amount in the debit column will be more than the amount in the credit column by $13,000.This is further explained below.

What is a trial balance?

Generally, In a double-entry accounting system, if there is a discrepancy between the debits and credits, it means there was a mistake.

In conclusion, If this mistake is included in the final trial balance, it will cause the debit column to exceed the credit column by $13,000. You may learn more about this in the sections below.