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 >>
If a $335.00 debit item in the general journal is posted as a credit: By how much will the trial balance be out of balance? Explain how you might detect such an error.
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.
While in the process of posting from the journal to the ledger a company failed to post a $500 credit to Accounts Receivable. The effect of this error will be that Group of answer choices A. Accounts Receivable will be understated. B. the error will overstate the debits listed in the journal. C. the trial balance will not balance. D. the total credits in the trial balance will be larger than the total debits.
Which of the following errors will be detected by a trial balance? a. Posting a credit to Sales instead of the Accounts Payable b. Incorrecty computing the balance of the cash account c. Not journalizing a complete sales transaction d. Forgetting to post a complete purchase transaction
Journal entry
An error was made in posting of cash sales for $2 000. The both accounts were understated by the amount. What type of error is this? Error of Principle Error of Original Entry Error of Commission Reversal of Entries
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
Exercise for two-side errors Following are some accounting errors: ( the followings are two side errors) 1. Sales for R.O 20,000 made to Ahmed was not entered in the Sales book. 2. Cash R.O 50,000 paid to the creditor Ali was debited to Ahmed's A/c. 3. Purchase account was overcast by R.O 4000 and sales account was overcast by RO4000 4. Payment to a creditor “X" was wrongly credited to his account and debited to cash by R.O 1,200. 5. Purchase of furniture for R.O 5,000 entered in purchase account. 6. Amount of R.O 1,500 received from Ali was credited to Alia Account. 7. Cash received from Saleh R.O 2,500 were recorded as R.O 5,200. 8. Total of the Sales Book was overcast by R.O 1,000 and Interest received account was undercast by RO 1,000 Rectify the above error by making journal entry.
Which of the following errors would not affect net income?A. Post-dated checks are classified as cash upon receipt from customersB. Purchases on account are unrecorded because the goods are still in transit : butthe goods were included in inventoryC. Depreciation expense was recorded twice for the same yearD. The client charged an ordinary repair as part of equipment cost.

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