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If the trial balance shows total debits of $100,000 and total credits of $95,000
If the trial balance shows total debits of $100,000 and total credits of $95,000, what is the amount of the discrepancy?
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Practice Questions
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Q1
If the trial balance shows total debits of $100,000 and total credits of $95,000, what is the amount of the discrepancy?
$5,000 debit
$5,000 credit
$10,000 debit
$10,000 credit
Show Solution
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The discrepancy is the difference between total debits and total credits, which is $100,000 - $95,000 = $5,000 debit.
Questions & Step-by-step Solutions
1 item
Q
Q: If the trial balance shows total debits of $100,000 and total credits of $95,000, what is the amount of the discrepancy?
Solution:
The discrepancy is the difference between total debits and total credits, which is $100,000 - $95,000 = $5,000 debit.
Steps: 4
Show Steps
Step 1: Identify the total debits from the trial balance, which is $100,000.
Step 2: Identify the total credits from the trial balance, which is $95,000.
Step 3: Calculate the discrepancy by subtracting total credits from total debits: $100,000 - $95,000.
Step 4: The result of the subtraction is $5,000, which indicates the amount of the discrepancy.
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