Question

what are one sided errors? give any five examples. Explain the method of rectifying one-sided errors.

Answer 1

One sided errors:

Only one side of the account, that is either credit or debit, is affected by errors is called one-sided errors. For example:  Posting a wrong amount, wrong totaling of subsidiary books, posting on the wrong side. This error is rectified by posting additional information on the affected side of the ledger account.

 

One sided errors can be rectified in any of two cases:

1)     Before preparing the Trial Balance

2)     After preparing the Trial Balance

Rectification of Errors Located Before Preparation of Trial Balance:

 

Error can be found when closing a book and account for preparing the trail balance.  This kind of error can be one sided or two sided errors. These errors are rectified immediately when they are found.

 

Rectification of Errors after Preparation of Trial Balance:

 Some errors are found after the accounting year is closed or after preparing the trail balance.

These errors can be one-sided or two-sided errors. These errors can be rectified by preparing rectifying journal entries in the following year only.

 

Example:

Errors in totaling of subsidiary books

There is an over cast in the purchase book by Rs.600.

Rectification:

 Over casting will result in excess debit of purchase a/c, hence, it should be credited with Rs.600.

 

Example:

 A total of Rs.596 in the purchases book has been carried forward as Rs.695

Rectification:

The effect of this error is that purchase a/c will be debited more by Rs.99 (695 – 596). Hence purchase a/c should be credited with Rs.99.

 

Example:

Errors of Posting

 Purchases from Anish for Rs.2000 have not been posted to his personal a/c.

Rectification:

Anish a/c should be credited with Rs.2000.

 

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Answer 2

One-sided errors:

Only one aspect of the account, that's either credit or debit, is stricken by errors is termed one-sided errors. For example: Posting a wrong quantity, wrong totaling of subsidiary books, and posting on the incorrect aspect. This error is corrected by posting extra data on the affected aspect of the ledger account.

One-sided errors may be corrected in any of 2 cases:

1) Before getting ready for the balance

2) When getting ready for the balance

Rectification of Errors settled Before Preparation of Trial Balance:

The error may be found once closing a book and account for getting ready the balance. This sort of error may be one-sided or two-sided errors. These errors area unit corrected now and once the area unit found.

Rectification of Errors when Preparation of Trial Balance:

Some errors area unit found when the accounting year is closed or when getting ready the balance. These errors may be one-sided or two-sided errors. These errors may be corrected by getting ready rectifying journal entries within the following year solely.

Example:

Errors in totaling of subsidiary books. There is an overcast within the purchase book by Rs 600.

Rectification:

Overcasting can lead to an excess debt or purchase a/c, hence, it ought to be attributable with Rs 600.

Example:

A total of Rs 596 within the purchases book has been carried forward as Rs 695.

Rectification:

The impact of this error is that purchase a/c are debited a lot of by Rs 99 (695 - 596). Therefore, purchase a/c ought to be attributable with Rs 99.

Example:

Errors of Posting

Purchases from Anish for Rs 2000 have not been announced to his personal a/c.

Rectification:

Anish a/c ought to be attributable with Rs 2000.