Trial Balance Errors
b) If the trial balance can be ‘in balance’ and still have errors, give examples of the type of errors that can occur leaving the trial balance in balance. For example, if $523 is the correct amount to be entered for both credit and debit side but entered $532, trial balance will show the same amounts for both debit and credit side but contains error.
In addition, reverse entries can cause trial balance to be in balance but still contains error. For example, instead of recording debit side $100 for cash and credit side $100 as liability, enter the other way around will cause trial balance to be in balance while contains errors.
c) Explain your answer. When and how do these errors occur? (At the time of pulling the trial
In addition, reverse entries can cause trial balance to be in balance but still contains error. For example, instead of recording debit side $100 for cash and credit side $100 as liability, enter the other way around will cause trial balance to be in balance while contains errors.
c) Explain your answer. When and how do these errors occur? (At the time of pulling the trial