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Error correction

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Error correction

  • This topic has 5 replies, 2 voices, and was last updated 2 years ago by John Moffat.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • September 5, 2022 at 1:37 pm #665223
    krrish123456
    Member
    • Topics: 12
    • Replies: 25
    • ☆

    Sir
    Any error of addition in cash book will cause trial balance to balacne or not?

    Any undercasting/overcasting total error in sales day book/purchase day book will cause trial balance to balance or not?

    September 5, 2022 at 6:05 pm #665274
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54717
    • ☆☆☆☆☆

    Adding the cash book wrongly will stop the trial balance balancing (because the closing balance in the cash book will be wrong).

    Adding the day books wrongly will not stop the trial balance balancing because they are not part of the double entry and the same wrong total will have been entered in both ledge accounts.

    Have you watched my free lectures on books of prime entry?

    September 5, 2022 at 6:20 pm #665287
    krrish123456
    Member
    • Topics: 12
    • Replies: 25
    • ☆

    Yes sir i have watched them.
    Sir it means if we do wrong total in cash book …trial balance will not balance
    But if we do a transposition error in cash book then the same will be posted to general ledger and hence trial balance will balance…right?

    September 6, 2022 at 7:53 am #665344
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54717
    • ☆☆☆☆☆

    If the total is wrong then the TB will not balance.

    If there is a transposition error in one of the entries in the cash book, then two figures will be wrong and the TB will still balance.

    September 6, 2022 at 11:06 am #665373
    krrish123456
    Member
    • Topics: 12
    • Replies: 25
    • ☆

    Ok thanks sir

    September 6, 2022 at 4:14 pm #665396
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54717
    • ☆☆☆☆☆

    You are welcome.

  • Author
    Posts
Viewing 6 posts - 1 through 6 (of 6 total)
  • The topic ‘Error correction’ is closed to new replies.

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