Theory question 102
Correction of Errors and Suspense AccountIdentify the errors in the following transactions and state if they would affect the agreement of the trial balance totals:
(a) Purchase of consumables posted to purchases account:
(b) An invoice amount incorrectly posted to purchases day book.
(c) Returns outwards posted to the personal account only;
(d) The total sales of ₦120,000 was recorded as ₦102,000;
(e) Payment of cheque to Ige entered on the receipt side of the cash book and credited to Ige's account.
Show the model answer
(a) Error of principle – does not affect the trial balance.
(b) Error of original entry – does not affect the trial balance.
(c) Error of single entry (partial omission) – affects the trial balance.
(d) Undercasting (casting error) of the sales total – affects the trial balance.
(e) Error of complete reversal of entries – does not affect the trial balance.
Name each error, then say whether debits still equal credits.