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If the trial balance shows total debits of $100,000 and total credits of $95,000

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Question: If the trial balance shows total debits of $100,000 and total credits of $95,000, what is the amount of the discrepancy?

Options:

  1. $5,000 debit
  2. $5,000 credit
  3. $10,000 debit
  4. $10,000 credit

Correct Answer: $5,000 debit

Solution: 

The discrepancy is the difference between total debits and total credits, which is $100,000 - $95,000 = $5,000 debit.

If the trial balance shows total debits of $100,000 and total credits of $95,000

Practice Questions

Q1
If the trial balance shows total debits of $100,000 and total credits of $95,000, what is the amount of the discrepancy?
  1. $5,000 debit
  2. $5,000 credit
  3. $10,000 debit
  4. $10,000 credit

Questions & Step-by-Step Solutions

If the trial balance shows total debits of $100,000 and total credits of $95,000, what is the amount of the discrepancy?
  • 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.
  • Trial Balance – A trial balance is a statement that lists the total debits and credits of all accounts in the general ledger to ensure they are equal.
  • Discrepancy Calculation – The discrepancy is calculated by subtracting total credits from total debits to identify any imbalance.
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