errors
Cards (11)
- CompensatingTwo or more separate errors that completely cancel each other out.The Rates account was overcast by £400 and the Creditors account was overcast by £400
- ReversalThe ledger account that should have been credited has been debited; and the ledger account that should have been debited has been credited.A van worth £12,000 has been credited to the Motor Vehicles Account and debited to Bank.
- Original EntryBoth the debit and credit entries have been made at the wrong amount.Rent of £450 has been entered into both ledger accounts as £480.
- PrincipleThe entries are arithmetically correct but one entry has been made to the wrong type of account.Motor Expenses of £800 have been debited to the Motor Vehicle Account.
- OmissionNeither the debit nor the credit entries in the ledgers have been made.Postage of £5.60 has not been entered into the accounts.
- CommissionThe double entry is arithmetically correct but one of the entries has been made to the wrong account, but an account of the correct type.Credit purchases of £2,000 were entered into JR Smiths account instead of J Smythes account.
- Calculation (Balancing)ErrorA mistake has been made when determining the balance on a ledger account.The wages account has been totalled as £5,300 when the correct figure is £5,330.
- Balance OmissionThe end of period balance (Bal c/d) on a general ledger account has not been carried forward to the Trial Balance.The Discounts Allowed balance of £250 has not been included in the Trial Balance.
- Two Debits / Two CreditsBoth accounts have been posted as debits or both have been posted as credits.Sales of £900 have been credited to both the Sales account and the Bank account.
- TranspositionThe digits in a number are swapped around for one entry only. The other entry is correct.Sales of £345 have been entered as £435.
- Single entry transactionOnly one side of the double entry has been made in the ledger accounts.Insurance of £300 has been credited to the Bank account but no other entry has been made.