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Which of the following will not affect the agreement of Trial Balance ?
- a)An amount of purchase of Rs. 10,000 recorded in Cr. A/c as Rs. 1,000
- b)Customer account debited with the amount of cash received
- c)An Entry of debit of Rs. 1,000 was credit with twice the amount.
- d)An Entry posted twice in the ledger.
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Which of the following will not affect the agreement of Trial Balance ...
Explanation:
Trial balance is a statement of debit and credit balances of all ledger accounts. It is prepared to ensure that the total of debit balances is equal to the total of credit balances. If the trial balance does not agree, it indicates that there is an error in the accounting records. The following options explain which entry will not affect the agreement of the trial balance.
Option A: An amount of purchase of Rs. 10,000 recorded in Cr. A/c as Rs. 1,000
This entry will affect the agreement of the trial balance because it is an error of omission. The purchase account should have been debited with Rs. 10,000, but instead, it has been credited with Rs. 1,000. This will result in a difference between the debit and credit balances.
Option B: Customer account debited with the amount of cash received
This entry will not affect the agreement of the trial balance because it is a correct entry. When a customer pays cash, the cash account is debited, and the customer account is credited. This will result in an equal debit and credit balance.
Option C: An Entry of debit of Rs. 1,000 was credit with twice the amount.
This entry will affect the agreement of the trial balance because it is an error of commission. The debit account should have been credited with Rs. 1,000, but instead, it has been credited with Rs. 2,000. This will result in a difference between the debit and credit balances.
Option D: An Entry posted twice in the ledger.
This entry will not affect the agreement of the trial balance because it is a compensating error. If an entry is posted twice in the ledger, the debit and credit balances will be doubled. As a result, the total debit and credit balances will remain the same, and the trial balance will still agree.
Conclusion:
The correct answer is option D because a compensating error will not affect the agreement of the trial balance.
Trial balance is a statement of debit and credit balances of all ledger accounts. It is prepared to ensure that the total of debit balances is equal to the total of credit balances. If the trial balance does not agree, it indicates that there is an error in the accounting records. The following options explain which entry will not affect the agreement of the trial balance.
Option A: An amount of purchase of Rs. 10,000 recorded in Cr. A/c as Rs. 1,000
This entry will affect the agreement of the trial balance because it is an error of omission. The purchase account should have been debited with Rs. 10,000, but instead, it has been credited with Rs. 1,000. This will result in a difference between the debit and credit balances.
Option B: Customer account debited with the amount of cash received
This entry will not affect the agreement of the trial balance because it is a correct entry. When a customer pays cash, the cash account is debited, and the customer account is credited. This will result in an equal debit and credit balance.
Option C: An Entry of debit of Rs. 1,000 was credit with twice the amount.
This entry will affect the agreement of the trial balance because it is an error of commission. The debit account should have been credited with Rs. 1,000, but instead, it has been credited with Rs. 2,000. This will result in a difference between the debit and credit balances.
Option D: An Entry posted twice in the ledger.
This entry will not affect the agreement of the trial balance because it is a compensating error. If an entry is posted twice in the ledger, the debit and credit balances will be doubled. As a result, the total debit and credit balances will remain the same, and the trial balance will still agree.
Conclusion:
The correct answer is option D because a compensating error will not affect the agreement of the trial balance.
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Which of the following will not affect the agreement of Trial Balance ...
Trial balance consist of debit and credit balances of different ledgers. when the entry posted twice in ledger will record in trial balance it will not affect the agreement of trial balance
As the same amount will be posted on both sides, and the amount of both sides also becomes same and no error will be occured.
As the same amount will be posted on both sides, and the amount of both sides also becomes same and no error will be occured.
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Which of the following will not affect the agreement of Trial Balance ?a)An amount of purchase of Rs. 10,000 recorded in Cr. A/c as Rs. 1,000b)Customer account debited with the amount of cash receivedc)An Entry of debit of Rs. 1,000 was credit with twice the amount.d)An Entry posted twice in the ledger.Correct answer is option 'D'. Can you explain this answer?
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