Question

cash: debits 10,680.00, credits
accounts receivable: debits 2,715.00, credits
office equipment: debits 7,350.00, credits
computer equipment: debits 4,220.00, credits
office furniture: debits 3,780.00, credits
accounts payable: debits , credits 6,965.00
phillip - capital: debits , credits 11,120.00
phillip - withdrawals: debits 1,375.00, credits
fees earned: debits , credits 13,300.00
rent expense: debits 780.00, credits
cleaning expense: debits 240.00, credits
miscellaneous expense: debits 785.00, credits
total: debits , credits
are the debit and credit columns in balance? no
what is the difference between the debit and credit totals? they are unbalanced
what is the next step? add all together.
does this tell you anything? what? nothing
what would you do next to find the error? i would find how to make credit and debit to balanced.
how do you fix the error? by making them to be balance.
what are the new totals for the debit and credit columns?

Explanation:

Step1: Calculate total debits

Add all debit amounts:
$$10680.00 + 2715.00+7350.00 + 4220.00+3780.00+1375.00+780.00+240.00+785.00$$
$$=(10680 + 2715)+(7350 + 4220)+(3780 + 1375)+(780 + 240)+785$$
$$=13395+11570+5155+1020+785$$
$$=(13395+11570)+(5155+1020)+785$$
$$=24965+6175+785$$
$$=31140+785$$
$$=31925$$

Step2: Calculate total credits

Add all credit amounts:
$$6965.00+11120.00+13300.00$$
$$=(6965 + 11120)+13300$$
$$=18085+13300$$
$$=31385$$

Step3: Find the difference

Subtract the smaller total from the larger one. Since \(31925>31385\), the difference is \(31925 - 31385=540\)

Answer:

The total debits is \(31925\) and the total credits is \(31385\). The difference between them is \(540\)