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

Mention the errors what are not disclosed by trial balance.

Explanation

Error not disclosed by trial balance:

  1. Errors of complete omission
  2. Errors in the books of original entry
  3. Errors of principle
  4. Compensating errors
  5. Errors of posting to wrong account in the right side with correct amount.

Question number: 214 (3 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