Errors in trial balance ppt
The PowerPoint PPT presentation: Errors Not Affecting Trial Balance Agreement is the property of its rightful owner. Do you have PowerPoint slides to share? If so, share your PPT presentation slides online with PowerShow. com.meaning and process of preparation of trial balance and the types of errors and their rectification. 6. 1 Meaning of Trial Balance A trial balance is a statement showing the balances, or total of debits and credits, of all the accounts in the ledger with a view to verify the errors in trial balance ppt
The PowerPoint PPT presentation: ERRORS NOT AFFECTING THE TRIAL BALANCE is the property of its rightful owner. Do you have PowerPoint slides to share? If so, share your PPT presentation slides online with PowerShow. com.
Errors affecting the Trial Balance: Errors affecting the Trial Balance These are errors which cause the Trial Balance totals to be in disagreement. For example: Errors in Omission of One Entry Posting to the Wrong Side of An Account Errors in Amount. Errors Revealed by Trial Balance 1. Errors in calculation Miscalculation of the trial balance totals or the net account balances. 2. Errors of omission of one entry Omission of either the debit or credit entry of a transaction. 3. Posting to the wrong side of an account. 4.errors in trial balance ppt Trial balance and errors. 1. Is a statement of balances remaining in each and every ledger account classified as to debit and credit entry balances According to the principle of double entry accounting system, the total of the debit side should be equal to the total of credit side.