Revise pages 33–35 of unit 4 and particularly activity 4.3. Check on the different examples of errors that you listed.
- 2What effect on the accuracy of the ledger, the final accounts, and the trial balance, would the following have?
The loss of an invoice for £540 before posting to the purchases day book.
An invoice for £540 incorrectly entered in the purchases day book as £450.
The correct entry of an invoice for £540 in the purchases day book, but the posting of the amount to the personal account as £450.
An invoice for £540 correctly entered in the purchases day book and posted to the ledger, but the purchases day book over-cast by £1000.
The omission of a creditor for £5789 from a list of balances extracted from the purchases day book for the purpose of obtaining a total of creditors for the trial balance.
The total of creditors, £128945, is inadvertently entered in the balance sheet as £182945.
KeywordsBalance Sheet Journal Entry Final Account Personal Account Correct Entry
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