CA CPT Exam > CA CPT Questions > Cash received from Ramesh Rs. 1,500isrecorded...
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Cash received from Ramesh Rs. 1,500 is recorded correctly in cash book, but debited to his account. Because of this error
- a)Trial balance shows Rs. 3,000 more on the debit side
- b)Trial balance shows Rs. 3,000 more on the credit
- c)Trial balance shows Rs. 1,500 more on the debit side
- d)Trial balance shows Rs. 1,500 more on the credit side
Correct answer is option 'A'. Can you explain this answer?
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Cash received from Ramesh Rs. 1,500isrecorded correctly in cash book, ...
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Cash received from Ramesh Rs. 1,500isrecorded correctly in cash book, ...
Error in Recording Cash Received from Ramesh
The error occurred when cash received from Ramesh is recorded correctly in the cash book, but debited to his account. This means that the cash received is not correctly recorded in Ramesh's account.
Impact on Trial Balance
The trial balance is a statement that shows the balances of all accounts in the ledger. It is used to ensure that the total of all debit balances equals the total of all credit balances. The error in recording cash received from Ramesh will affect the trial balance.
Option A is the correct answer because the trial balance will show Rs. 3,000 more on the debit side. This is because the cash received from Ramesh is debited twice, once in the cash book and once in Ramesh's account. The error has the following impact on the trial balance:
- The cash book will show Rs. 1,500 as a debit entry
- Ramesh's account will show Rs. 1,500 as a debit entry
- The trial balance will show Rs. 3,000 more on the debit side because the same amount is debited twice.
Conclusion
In conclusion, errors in recording transactions can have a significant impact on the trial balance. It is important to ensure that all transactions are recorded correctly to avoid errors that can affect the accuracy of the financial statements.
The error occurred when cash received from Ramesh is recorded correctly in the cash book, but debited to his account. This means that the cash received is not correctly recorded in Ramesh's account.
Impact on Trial Balance
The trial balance is a statement that shows the balances of all accounts in the ledger. It is used to ensure that the total of all debit balances equals the total of all credit balances. The error in recording cash received from Ramesh will affect the trial balance.
Option A is the correct answer because the trial balance will show Rs. 3,000 more on the debit side. This is because the cash received from Ramesh is debited twice, once in the cash book and once in Ramesh's account. The error has the following impact on the trial balance:
- The cash book will show Rs. 1,500 as a debit entry
- Ramesh's account will show Rs. 1,500 as a debit entry
- The trial balance will show Rs. 3,000 more on the debit side because the same amount is debited twice.
Conclusion
In conclusion, errors in recording transactions can have a significant impact on the trial balance. It is important to ensure that all transactions are recorded correctly to avoid errors that can affect the accuracy of the financial statements.
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