In preparing the trial balance of the K & L’s Bridal Service the withdrawal acco
ID: 2535552 • Letter: I
Question
In preparing the trial balance of the K & L’s Bridal Service the withdrawal account (which had a normal balance in the general ledger) was listed as a credit for $400. What will be the difference between the debit and credit sides of the trial balance? A $150 B $200 C $300 D $800 In preparing the trial balance of the K & L’s Bridal Service the withdrawal account (which had a normal balance in the general ledger) was listed as a credit for $400. What will be the difference between the debit and credit sides of the trial balance? A $150 B $200 C $300 D $800 A $150 B $200 C $300 D $800Explanation / Answer
Owner's withdrawal account is debit balance and if that debit balance is entered as credit balance so difference in debit and credit sides of trial balance is double
so difference is 400*2 = 800
so answer is d) $800