BUSPROG: Analytic An overpayment error was discovered in computing and paying the wages of a Jamison Tree Trimming employee. When Jamison receives cash from the employee for the amount of the overpayment, which of the following entries will Jamison make? Cash, debit; Wages Expense, credit Wages Payable, debit; Wages Expense, credit Wages Expense, debit; Cash, credit Cash, Wages Payable, credit a ANSWER: Challenging DIFFICULTY: Bloom's: Remembering FNMN.WARD.16.02-04 - LO: 02-04 LEARNING OBJECTIVES: ACCT.ACBSP.APC.06 - Recording Transactions ACCREDITING STANDARDS: ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic If the two totals of a trial balance are not equal, it could be due to failure to record a transaction recording the same erroneous amount for both the debit and the credit parts of a transaction an error in determining the account balances, such as a balance being incorrectly computed recording the same transaction more than once c ANSWER: Challenging DIFFICULTY: Bloom's: Remembering FNMN.WARD.16.02-04 - LO: 02-04 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: ACCT.ACBSP.APC.09 - Financial Statements ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic When a transposition error is made on the trial balance, the difference between the debit and credit totals on the trial balance will be zero twice the amount of the transposition one-half the amount of the transposition divisible by 9 d ANSWER: Moderate DIFFICULTY: Remembering FNMN.WARD.16.02-04 - LO: 02-04 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: ACCT.ACBSP.APC.09 - Financial Statements ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic
BUSPROG: Analytic An overpayment error was discovered in computing and paying the wages of a Jamison Tree Trimming employee. When Jamison receives cash from the employee for the amount of the overpayment, which of the following entries will Jamison make? Cash, debit; Wages Expense, credit Wages Payable, debit; Wages Expense, credit Wages Expense, debit; Cash, credit Cash, Wages Payable, credit ANSWER: a DIFFICULTY: Challenging Bloom's: Remembering LEARNING OBJECTIVES: FNMN.WARD.16.02-04 - LO: 02-04 ACCREDITING STANDARDS: ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic If the two totals of a trial balance are not equal, it could be due to failure to record a transaction recording the same erroneous amount for both the debit and the credit parts of a transaction an error in determining the account balances, such as a balance being incorrectly computed recording the same transaction more than once ANSWER: c DIFFICULTY: Challenging Bloom's: Remembering LEARNING OBJECTIVES: FNMN.WARD.16.02-04 - LO: 02-04 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.ACBSP.APC.09 - Financial Statements ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic When a transposition error is made on the trial balance, the difference between the debit and credit totals on the trial balance will be zero twice the amount of the transposition one-half the amount of the transposition divisible by 9 ANSWER: d DIFFICULTY: Moderate Remembering LEARNING OBJECTIVES: FNMN.WARD.16.02-04 - LO: 02-04 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.ACBSP.APC.09 - Financial Statements ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic
test-bank-financial-managerial-accounting-13th-edition-warren.docx