Interested to Buy Any Domain ? << Click Here >> for more details...
Name some errors which are not disclosed by trial balance
- 6 Answers
- 31083 Views
- I also Faced
- E-Mail Answers
Answer Posted / catherine gill
some errors not disclose by a trial balance are
1, Error of commission - where the correct amount in the wrong
persons account.
2, Error of principle - the correct amount is entered in the
wrong type of account
3, Error of complete omission - where the transaction is
completely omitted from the books.
4, Error of original entry - where the item is entered, but
both the debit and credit entries are incorrect.
5, Complete reversal of entries - where the correct amount
is entered in the account but each item is shown on the
wrong side of each account.
6, Compensating errors - where two errors of equal amounts
but on opposite side cancel out each other
| Is This Answer Correct ? | 28 Yes | 4 No |
Post New Answer View All Answers
how to do the finalise of account? what is the step? why we need to do like that?
Nike,Inc. has developed a variable-overhead rate of $10 per machine hour,and estimates fixed overhead $250,000 for production up to 100,000 units per year. If the production manager estimates 9,000 machine hours for the production of 90,000 units next year, what are estimated variable-overhead costs?
please provide wct retun guide line how can prepaire that
Two months rent of Rs 25000/- was adjusted in Rental advance account at the time vacating office
Suppose My received Interest Income is 24934.59 And for the same time my Bank Charge total is 7785.19. Now the total Bank Charge will be deducted from Interest Income and the amount of (24934.59-7785.19)=17149.40 will be withdrawn to deposit in govt. Account.What will be the Journal Entry for 17149.40. Here, Already Bank Charge 7785.40 is Already Debited and 24934.59 is already credited in Journal.
We did promotion activity for X co that co is our client ( S Dr) which we sold tickets through our vendor through out north india ... But those vendors adjusted cash with thir bill and remaining balance we received ,, Ticket amount we paid from our co Bank A/c to our client (S Dr) .the amount is too huge so how can i sort out this in books of acconts ..............
Expand---------MNOP
Who is called consignor
What is the Technology used to carry out trades?
SOUTH ATLANTIC OIL AND GAS INC.is a fraud company
If DEBT/EQUITY ratio 2:1, is to good or bad for a company? how...??? can u explain it...???
How can retify the errors in the trial balance
Please let me know what to answer how long you prepared for SBI exam? if selected your credit goes to whom?
Reserve Capital and Reserve Capital
post pscwb question and answer for accounting paper I & II for govt.officers departmental examination.
