Errors Disclosed by Trial Balance

What are the errors shown or disclosed by a trial balance?

Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = 

When errors affect the agreement of trial balance, it is called errors shown by trial balance.

The main errors are as follows:

Partial omission

When transaction recorded in journal entry but not posted in ledger is known partial omission.

Forget to carry forward is also partial omission.

Such error effects total of trial balance.

Wrong posting

When transaction amount is recorded more or less than actual, it is known wrong posting.

Suppose $/₹/Rs 50,000 received from Laxmi is recorded Rs 5,000.

Here Rs 45,000 (50,000 ̶  5,000) is less recorded.

Such error effects total of trial balance.

Posting on wrong side

When transaction is recorded correct in journal entry but posted in wrong side of ledger, it is known wrong posting.

Suppose goods sold to Usha $/₹/Rs 20,000. It must be debited in Usha’s account but posted in credit side.

Such error effects total of trial balance.

Wrong total or balance

When subsidiary book is wrong totalled or balance of ledger is wrong, it is known wrong total or balance.

Such error effects total of trial balance.

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ACCOUNTING EQUATION http://tiny.cc/c89jkz

BASIC JOURNAL ENTRIES IN NEPALI http://tiny.cc/uaakkz

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