for i.com , b.com and bba

2.  Accounting errors are non-fraudulent
discrepancy in financial documentation.

3. Types of Accounting Errors
 Errors of commission
 Errors of principle
 Errors of original entry
 Errors of omission
 Complete reversal of entries

4.  The correct amount is entered but in a
wrong personal account.
 For example:
Sale to Mr. A wrongly treated as sale to
Mr. B

5.  A purchase of goods from Mr.X wrongly
posted to the credit side of Mr.Y account
amounting to $500. The correcting
entries should be:

6. Original entry:
purchase $500
Mr.X $500
Wrong entry:
purchase $500
Mr.Y $500
Rectified entry:
Mr.Y $500
Mr.X $500

7. Case.no.1:
A purchase of goods from ALi has been posted to the
credit side of Alian account, amounting to $800. what
would be the original, wrong and rectidied entry?

8.  An item is entered in the wrong type of
account due to misunderstanding of the
nature of the item.
 For Example:
Salary paid has been debited to
factory expense account.

9.  Office equipment purchased for
$1,000 in cash has been debited to an
office expenses account. The
correcting entries should be:

10. Original entry:
Office Equipment $1000
Cash $1000
Wrong entry:
Office Expenses $1000
Cash $1000
Rectified entry:
Office Equipment $1000
Office Expense $1000

11. Case.no.2:
Salary paid $1,000 in cash has been debited to an
worker’s expense account. The correcting entries
should be?

12.  Error of original entry occurs when
incorrect amount to a correct account.

13.  A payment of $1,200 to a creditor,
M.Wong, has been entered as both a
debit and credit as $1,000. The
correcting entries should be:

14. $ $
Mr. Wong $1200
cash $1200
Wrong entry:
Mr. Wong $1000
cash $1000
Rectified entry:
Mr. Wong $200
cash $200
Original entry:

15. Case.no.3:
A payment of $ 5400 to a creditor, Mr. X, has been
entered as both a debit and credit as 4500. . what
would be the original, wrong and rectidied entry?

16.  A transaction has been completely
omitted from the accounts.

17.  A sale of $400 to John Leung has been
completely omitted from the accounts.
The correcting entries should be:

18. John Leung $400
Sales $400
John Leung $400
Sales $400
Original entry:
Wrong entry:
No entry
Wrong entry:
Rectiifed entry:

19. Case.no.4:
A Purchase of $600 to John has been
completely omitted from the accounts. The
correcting entries should be?

20.  The correct amounts are entered in the
wrong sides of the two appropriate
accounts.

21.  The purchase of goods on credit from
M. Lok for $60 was entered on the
debit side of M. Lok’s account and the
credit side of the purchases account.
The correcting entries should be:

22. Purchase $60
M Lok $60
Original entry:
Wrong entry:
M Lok $60
Purchase $60
Rectified entry:
Purchase $120
M Lok $120
Purchase 60
Purchase 60
M Lok 60
M Lok 60

23. The purchase of goods on credit from Mr. Aashr for
$20 was entered on the debit side of Mr. Aashr
account and the credit side of the purchases account.
Case.no.5:

24. Problem:
Identify Nature Of Errors
Pass Rectified Journal Entries

25.  Sales of goods from Mr. Zahid is wrongly posted to the
credit side of Mr. Zubair account amounting to $500.
 The Purchase of goods on cash for $100 was entered on
the Credit side of purchases account and the debit side of
the Cash account.
 Electricity bill paid for $150 completely omitted.
 $1000 cash received from a Debtor, Mr. ABC has been
entered as both a debit and credit as $100.
 Electricity bill paid $2000 has been debited to factory
expense account.

26. Problem:
Identify Nature Of Errors
Pass Rectified Journal Entries

27.  Sales of goods for $ 1500 has been completely omitted to
enter.
 Salary paid $ 200 has been debited to workers expense.
 Cash received as a commission is completely omitted.
 A payment to $5100 a Mr. Danial has been entered as both a
debit and credit as $1500.