errorCr£6Answer to32.1activityThe Journal.eview questions32.1 Give anbalance.doubleto the appropriate ledger accountsvia the Journal, where entriesexample of each of the different types of error which are not revealed by a trial32.2 Show the journal entries necessary to correct the following errors:(a) A sale of goods for £412 to T. More had been entered in T. Mone's account.(b) The purchase of a machine on credit from J. Frank for £619 had been completely omitted fromour books.(c) The purchase of a computer for £550 had been entered in error in the Office Expenseaccount.(d) A sale of £120 to B. Wood had been entered in the books, both debit and credit, as £102.e) Commission received £164 had been entered in error in the Sales account.A receipt of cash from T. Blair £68 had been entered on the credit side of the cash boothe debit side of T. Blair's account.A purchase of goods for £372 had been entered in error on the debit side of the Daccount.Discounts Allowed £48 had been entered in error on the debit side of the Discountsaccount.

a) Debit T. More's account and credit Sales account to correct the error of entering the sale in the…

Answered: error Cr £ 6 Answer to 32.1 activity…

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter5: Accounting Systems

Section: Chapter Questions

Problem 19E: After Bunker Hill Assay Services Inc. had completed all postings for March in the current year...

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Q. 28. A Book-keeper finds the difference in the Trial Balance amounting to 210 and puts it in the suspense account. Later on he detects the following errors. Rectif these and prepare the Suspense Account :- 1. Goods purchased from Ram700 was passed through sales book. 2. Returned goods to Shyam 1,500 was passed through returns inward book. 3. An Item of 450 relating to prepaid rent account was omitted to be brought forward. 4. An Item of 120 in respect of purchase returns, instead of being recorded in Returns outward book has been wrongly entered in the purchase book and posted therefrom to the debit of Personal A/c. 5. Amount payable to Subhash for repairs done to radio 180 and a new radio supplied for 1,920, were entered in the Purchase book as 2,000. Give full narrations for rectifying journal entries. Which of the above erors affected the agreement of Trial Balance?
Select the best answer for the question. 10. A trial balance indicates that the debit total exceeds the credit total by $63. Which of the following errors is the most probable source of the discrepancy? A. An asset with a balance of $63 was mistakenly entered in the ledger as a credit for that amount instead of a debit B. An asset with a balance of $670 was mistakenly entered in the ledger as a $607 debit OC. A liability with a balance of $63 was mistakenly entered in the ledger as a debit for that amount, instead of a credit OD. A liability with a balance of $970 was mistakenly entered in the ledger as a $907 credit O Mark for review (Will be highlighted on the review page) Previous Question Next Question >>
4. A trial balance was extracted from the books of Phax Mohutsiwa. It was found that the debit side exceeded the credit side by P40. The following errors were later discovered. i) Purchases were overcast by P20. ii)An amount paid to L Lesego was debited to the control account as P98 instead of P89. iii) Sales were undercast by P11 Required: Enter the above information in the suspense account and balance it off. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Urgent need.
A £500 cash sale was entered as a debit in the sales account and a credit in the bank account. What type of error is this? Select one: A. Compensating B. Ommission C. Reversal of entries O D. Original entry E. Commission O F. Principle
Journal entry
What is the appropriate name of the error which was made under the following circumstances: A payment of N$442 to a supplier by the business was recorded in the relevant ledger accounts for N$424? O a. Error of original entry O b. Error of complete reversal O c. Error of omission O d. Commission error
Required: Post the rectification entry for each of the above errors. Question five: Rectify the following errors: 1. Other income received of Tshs880,000 was correctly recorded in the cash book, but was debited to the other income account. 2. Cash paid for wages of Tshs9.6 million was posted to the wages account as Tshs6.9 million. 3. The purchases day book was overcast by Tshs2 million. 4. The sales day book was undercast by Tshs6 million. 5. The cash book credit side was undercast by Tshsl.3 million. 6. The prepaid expense account debit side was undercast by Tshs0.6 million. 7. A sale of Tshsl.5 million was fully credited to the sales account. However, sales tax of Tshs0.5 million was included in it. 8. A building purchased for Tshs60 million was entered in the building account as Tshs50 million. The company charges 2% depreciation. 9. Repairs to machinery of Tshs5 million were capitalised and a depreciation of 5% was charged on it. Question six: How much will appear in the suspense…
A company that records credit purchases in a purchases journal and records purchases returns in a general journal made the following errors. Enter A, B, or C indicating when each error should be discovered. A. When preparing the schedule of accounts payable. B. When crossfooting the purchases journal. C. When preparing the trial balance. 1. Made an addition error in totaling the Office Supplies column of the purchases journal. 2. Made an addition error in determining the balance of a creditor’s subsidiary account. 3. Posted a purchases return to the Accounts Payable account and to the creditor’s subsidiary account but did not post the purchases return to the Inventory account. 4. Correctly recorded an $8,000 purchase in the purchases journal but posted it to the creditor’s subsidiary account as an $800 purchase. 5. Posted a purchases return to the Inventory account and to the Accounts Payable account but did not post to the creditor’s subsidiary account.
40. While in the process of posting from the journal to the ledger, the accountant of X Company failed to posta $50 debit to the Office Supplies account. The effect of this error will be as follows: A. The Office Supplies account balance will be overstated B. The trial balance will not balance. C. The error will overstate the debits listed in the journal. D. The total debits in the trial balance will be larger than the total credits. E. This error will not make any difference.
Business receives cash RO 180 from Ms. Asma was wrongly entered RO100 in both the accounts. This type of error is a. Errors of Commission b. Errors of transposition c. Reversal error d. Errors of Principle
Name the error which was made under the following circumstances: The business returned goods of N$1000 to the supplier and the bookkeeper did not at all record the transaction in the books of account. a. Compensating error b. Error of ommisionn O c. Error of omission O d. Error of oommission

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