Question

Classify the following errors as error affecting trial balance and errors not affecting trial balance with reason
a) Discount received ₹2000 was posted to the debit of discount account
b)Machinery purchased for ₹10000 was posted to purchase account as ₹ 5000
c) Goods of the value ₹3000 returned by a customer were taken into the stock but no entry was made in the books.​

Answer 1

Answer:

Steel is one of the most widely used materials, with applications in construction, engineering, agriculture and the manufacture of cars. With more than 50% of all products in the world coming from steel and steel fabrication processes, it is estimated that there are over 20 billion tonnes of steel currently in use!

Answer 2

Answer:

Certain errors will not affect the agreement of trial balance. Though such errors occur in the books of accounts, the total of debit and credit balance will be the same.

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