Fundamental Accounting Principles
Fundamental Accounting Principles
23rd Edition
ISBN: 9781259536359
Author: John J Wild, Ken Shaw Accounting Professor, Barbara Chiappetta Fundamental Accounting Principles
Publisher: McGraw-Hill Education
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Chapter 2, Problem 9DQ
To determine

Concept Introduction:

The errors in accounting entries are identified after the preparation of the Trial Balance. If the debit and credit total of Trial Balance do not agree, it means there has been some error in recording the entries or in posting them. These errors are rectified by passing journal entries called rectifying journal entries.

Error of Original Entry–It means posting of incorrect amounts to correct accounts.

Requirement 1 - To Determine:

The rectification of error of posting an incorrect amount in Journal and ledger

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Fundamental Accounting Principles

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ACCOUNTING BASICS: Debits and Credits Explained; Author: Accounting Stuff;https://www.youtube.com/watch?v=VhwZ9t2b3Zk;License: Standard Youtube License