Bertrand Incorporated purchased some shop equipment for $4,500 in cash. By mistake, the journal entry debited the Office Equipment account rather than the Shop Equipment account. What correcting entry would be necessary?

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The new bookkeeper forgot to record the payment of an accounts payable to a supplier. What impact does this have on the company’s books?     No effect     Cash is understated/the Income Statement is understated     Cash is overstated/the Income Statement is overstated     Cash is overstated/liabilities are understated     Cash is overstated/liabilities are overstated

A trial balance does not balance. The owner believes the following mistakes WOULD cause animbalance. Do you agree? (Answer TRUE or FALSE for each statement) A. The owner forgot to record a cash saleB. A credit sale was recorded as a debit to sales and a debit to trade receivablesC. When transferring the bank overdraft from the Cash T account it was entered on thedebit side of the trial balanceD. Rates expense of £500 was debited to rent expenses and credited to cashE. A payment to a supplier of £690 was entered to cash as £690 but to trade payables as£609