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

What is operating revenues, Q. What is Operating revenues? Operating re...

Q. What is Operating revenues? Operating revenues are the revenues generated by the main activities of the business- generally the sale of products or services or both.

Heww inc., Heww Inc., issued a $50,000, 10 year bond with a stated interes...

Heww Inc., issued a $50,000, 10 year bond with a stated interest rate of 6%. Assume interest payments are made semi-annually. What is the selling price of the bond if the mark

Concept of ''fund'' , Concept of 'Fund' :  The word 'Fund' has a range ...

Concept of 'Fund' :  The word 'Fund' has a range of meanings. several people take it identical to cash and for them, there is no dissimilarity between Cash Flow and Funds Flow

Please help, A client comes to you for investment advice on his $500,000 wi...

A client comes to you for investment advice on his $500,000 winnings from the lottery. He has been offered the following options by three different financial institutions and reque

The owner''s equity of logan''s company, The owner's equity of Logan's comp...

The owner's equity of Logan's company is equal to one quarter of the total assets. Liabilities equal $60,000. What is the amount of owner's equity?

An asset''s cost includes all normal and reasonable, An asset's cost includ...

An asset's cost includes all normal and reasonable expenditures necessary to get the asset in place and ready for its intended use. 01.) True 02.) False True or Fals

What is articulate, Q. What is Articulate? The fundamental accounting c...

Q. What is Articulate? The fundamental accounting concept of the double-entry method of recording transactions. Under the double-entry approach each transaction has a two-sided

What is depreciable amount, Q. What is depreciable amount? The dissimil...

Q. What is depreciable amount? The dissimilarity between assets's cost and its estimated residual value is an asset's depreciable amount. To persuade the matching principle the

Calculate breakeven analysis, Breakeven Analysis - I really need help calcu...

Breakeven Analysis - I really need help calculating this. Our company's breakeven point occurs after the agency consecutively yields two months of positive net income. This a

What is owner equity, What is OWNER'S EQUITY Difference between Liabili...

What is OWNER'S EQUITY Difference between Liabilities and Assets is Owner's Equity. The can also be known as capital, proprietorship, or net worth.

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