IGCSE Accounting Paper-1: Specimen Questions with Answers 213 - 214 of 214

Passage

The following errors were found out after preparing the trial balance of the Mathew as on 31 - 03 - 2015

  1. Purchases $5000 from Sheethal wrongly entered in the sales book.
  2. Goods taken by the proprietor $1500 not recorded in the books at all.
  3. $5200 paid for the purchase of furniture was charged to office account.

Question number: 213 (2 of 3 Based on Passage) Show Passage

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Essay Question▾

Describe in Detail

ass journal entries for rectification of errors:

Mathew

Journal

Journal entries of the Mr. Mathew after rectification of errors

calculate the table values to depend on a passage

S. No

Details

Dr

$

Cr

$

a.

b.

c.

Explanation

Mathew

Journal

calculate the table value to depend on a passage

Journal entries of the Mr. Mathew after rectification of errors

S. No

Details

Dr

$

Cr

$

a.

Purchases A/c Dr

Sales A/c

To Sheethal

5000

5000

5000

b.

Drawings A/c Dr

To Purchases A/C

1500

1500

c.

Furniture A/c Dr

To Office expenses A/c

5200

5200

Question number: 214 (3 of 3 Based on Passage) Show Passage

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Essay Question▾

Describe in Detail

From the following table put a tick mark (√) under the correct heading to show how

Correcting each of the above errors would change the profit for the year.

Changes in the profit account of the Mr. Mathew

finding a given a table values

Increase

Decrease

No effects

Error 1

Error 2

Error 3

Explanation

finding a different values of the arrors

shows table in error values are increase, decrease and no effects

Increase

Decrease

No effects

Error 1

Error 2

Error 3