What is transposition or slide error explain, Accounting Basics

Assignment Help:

Q. What is transposition or slide error explain?

When the trial balance doesn't balance try re-totalling the two columns. If this step doesn't locate the error divide the difference in the totals by 2 and then by 9. If the dissimilarity is divisible by 2 you may have transferred a debit-balanced account to the trial balance as a credit or a credit-balanced account as a debit. When the dissimilarity is divisible by 2 you may look for an amount in the trial balance that is equal to one-half of the difference. Therefore if the difference is USD 800 look for an account with a balance of USD 400 and see if it is in the wrong column. If the dissimilarity is divisible by 9 you may have made a transposition error in transferring a balance to the trial balance or a slide error. A transposition error takes place when two digits are reversed in an amount (example writing 753 as 573 or 110 as 101). A slide error takes place when you place a decimal point incorrectly (example USD 1500 recorded as USD 15.00). Therefore when a difference is divisible by 9 compare the trial balance amounts with the general ledger account balances to see if you made a transposition or slide error in transferring the amounts.


Related Discussions:- What is transposition or slide error explain

Explain the difference between various funds, Research the major funds of y...

Research the major funds of your state or local government and nonprofit organizations. • What are the major funds of your state or local government, and how do they differ in n

Preparing journal entries for merchandising activities, Can you explain to ...

Can you explain to me how you did it? As well as putting it in a excel format but make it not take a lot of papers to print it out. A girl in my class said you can use a paint prog

Objectives of accounting concepts and standards, After going through this s...

After going through this section, you should be capable to: Appreciate the needs for a conceptual framework of accounting; understand and appreciate the Generally Accept

Assess the solvency of a business, Identify and explain the two ratios that...

Identify and explain the two ratios that are used to assess the solvency of a business.

If alisha maintenance manufacturing has: total maintenance, If Alisha Maint...

If Alisha Maintenance manufacturing has:  total maintenance cost of $2,785,000  total fixed maintenance cost of $310,000  total variable maintenance cost of $2,475,000  total m

Standards and conventions of accounting, Investigate the principles, standa...

Investigate the principles, standards and conventions of accounting by:   assessing  the need for financial information, its purpose and limitations   analysing the role

Methods be treated on the financial statements, Honesty AL, CPA, is compil...

Honesty AL, CPA, is compiling financial statement of significant accounting policies, Honesty AL discovers that the method used to value inventory in the past was stated as "invent

Imprest system, at the end of May he has a voucher for expenditure of $270 ...

at the end of May he has a voucher for expenditure of $270 and a balance in hand of $30. explain what the imprest amount is

Net present value, Having trouble with word problem: Planned Acquisition ...

Having trouble with word problem: Planned Acquisition cost $2.1M Salvage Value $0 16% discount rate savings = year end Savings: year 1 150k year 2 175k year 3 300K year

Finance officer, Finance Officer: the life blood of business is Finance. P...

Finance Officer: the life blood of business is Finance. Procuring financial resources and their judicious utilization are the two significant activities of financial management. F

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd