Identify the type of error involved in each of the following cases. (a) Returns outwards have been
Question:
Identify the type of error involved in each of the following cases.
(a) Returns outwards have been credited to the purchases account.
(b) Purchase of a stapling machine costing $5.68 has been ignored because it is such a small amount.
(c) A credit sale to Sanji has been debited to the account of S. Anji.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 12% (8 reviews)
a Commi...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Cambridge International As And A Level Accounting Revision Guide
ISBN: 9781444192001
1st Edition
Authors: Ian Harrison, Michael Hillman
Question Posted:
Students also viewed these Business questions
-
The first audit of the books of Gomez Limited was recently carried out for the year ended December 31, 2011. Gomez follows IFRS. In examining the books, the auditor found that certain items had been...
-
A company received a bank statement with a balance of $6100. Reconciling items included a bookkeeper error error of $300- a check recorded as $800- two outstanding checks totaling $830, service...
-
The first audit of the books of Gomez Limited was recently carried out for the year ended December 31, 2017. Gomez follows IFRS. In examining the books, the auditor found that certain items had been...
-
e) Based on your investigation of the data set create two well-formatted tables that illustrate some important features of the data. Your tables should have informative labels and a readable number...
-
Refer to the Amazon.com, Inc., consolidated financial statements in Appendix A at the end of this book. The cash and cash equivalents section of the Consolidated Balance Sheet shows a balance of...
-
Which federal agencies other than EPA regulate potentially infectious medical waste?
-
2 Suppose the president of a carpet manufacturing firm has asked you to look into the possibility of bypassing the firms wholesalers (who sell to carpet, department, and furniture stores) and selling...
-
In November 2010, Angerstein Co. computed its equivalent unit costs under FIFO process costing as follows: Direct material .........$29.50 Packaging ........... 3.00 Direct labor ........... 10.84...
-
Starbucks Corporation reported the following geographical segment revenues for a recent and a prior fiscal year: 1,546 Recent Year Prior Year (in millions, rounded) (in millions, rounded) Americas...
-
The following errors have been discovered after the preparation of a trial balance. Show the journal entries necessary to correct these two errors. (a) Purchases of $123 from Wong have been debited...
-
A trial balance has debit balances totalling $147 000 and credit balances of $149 000. Despite further checks, you are unable to find the error(s). Which account would you open and which posting...
-
The Sports Authority, Inc., is a private full-line sporting goods retailer. Assume one of the Sports Authority stores reported current assets of $88,000 and its current ratio was 1.75, and then...
-
Following the example shown in (a) below, indicate the effects of the listed transactions on the assets, liabilities, and stockholders equity of John Dallmus, certified public accountant, a...
-
What effect does the ordering of a search tree have on the efficiency of the search? What effect does it have on the quality of the results? How would order affect the way that depth-first search or...
-
For each of the accounts listed below, indicate whether the account is increased by a debit or a credit: Accounts Receivable Sales Revenue Equipment Common Stock Notes Payable Retained Earnings...
-
Smart Sports is also planning to launch a range of drinks products. The products have been developed by Hydration Labs Ltd and are designed to be sold as powders that dissolve easily in water. They...
-
Baucom Company accepted credit cards in payment for \(\$ 6,850\) of services performed during March 2011. The credit card company charged Baucom a 4 percent service fee. The credit card company paid...
-
Does the strength of a person's arm usually depend on the length of the arm or on its cross-sectional area?
-
Would you use the adjacency matrix structure or the adjacency list structure in each of the following cases? Justify your choice. a. The graph has 10,000 vertices and 20,000 edges, and it is...
-
Explain the term 'variance'.
-
Name one component of a master budget.
-
What is meant by the term 'master budget'?
-
Fig 1. Rolling a 4 on a D4 A four sided die (D4), shaped like a pyramid (or tetrahedron), has 4 flat surfaces opposite four corner points. A number (1, 2, 3, or 4) appears close to the edge of each...
-
I just need help with question #4 please! Thank you! Windsor Manufacturing uses MRP to schedule its production. Below is the Bill of Material (BOM) for Product A. The quantity needed of the part...
-
(25) Suppose that we have an economy consisting of two farmers, Cornelius and Wheaton, who unsurprisingly farm corn c and wheat w, respectively. Assume that both farmers produce their crop of choice...
Study smarter with the SolutionInn App