1413 Assignment No 1 Solution 2022-AIOU Autumn-Analyzing effect of wrong transaction on TB

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00:00bismillahirrahmanirrahim assalamualaikum dear students and viewers welcome to my

00:05youtube channel is even a new point in today's video we are going to cover the

00:09first question of which number one of subject national appointing which has

00:15subject code 1413 and its level is equal to BS A&F ADC and ADP so let's start

00:25reading the question then we are going to give the answer related to the all

00:31talks of this question the question is that which of the following address

00:37would cause a tight balance to have an equal totals explain your answers some

00:43transitions have been given in the form of ABC so you have to be read out every

00:49transaction carefully and after reading that then you will be competent to tell

00:56in your in your answer that either this this transaction which is already an

01:04error as has any effect on balance totals or not so first transaction is

01:16a payment to creditor was recorded as a debit to count payable for rupees 129

01:21and as a credit to cash for rupees 102 as you see that there's a two account

01:29involved in this transactions one is a count payable and other is account cash

01:36account so one is liability another is asset as you clearly see from the

01:44transaction that our count payable is recorded correctly by the 129 amount

01:52which is our liability side but our cash side which is our asset side is recorded

02:00by by less amount of rupees 27 so this error will become the cause of making

02:08TP unequal okay so our this account of cash is unequal by the amount of rupees

02:1929 and 27 sorry now move to the second transaction a payment of rupees 152 to a

02:27creditor count payable was devoted to accounts receivable and credit to cash

02:32as the we make a payment to account creditor as a result our liability must

02:42be reduced current liability must be reduced but unfortunately we have

02:48debited this amount to account receivable it means our account receivable

02:53increases and our cash count is decreases by amount 150 so both over one

03:01one aspect of debit column of tile balance increase by 150 on the same time

03:07our debit balance of tile balance is reduced by 150 so both transaction nullify

03:15each other and there will be no effect on totals of the tile balance a purchase of

03:21office supplies of rupees 420 was recorded as debit to office supplies for

03:28rupees 442 and as a credit to cash for rupees 42 again you have noticed that

03:35also the transaction also the both accounts are recorded with less amount

03:41so but what happening if you make record if you make recording of this

03:49transaction with less amount means both accounts are related to the debit column

03:54of the tile balance and has been recorded with the less amount of how

03:59much 420 and we only recorded 442 it means 420 it means 380 380 no no 400 400

04:12380 378 so if you make this correction it doesn't it doesn't turns tile balance

04:23total into unequal if you make correction then it increase the total

04:29with 378 but it doesn't turn tile balance total into unequal position now

04:36I have the last transaction which is labeled as the purchase of equipment for

04:41rupees 450 was recorded as a debit to supplies for rupees 450 and as a credit

04:47to cash for rupees 450 no effect means as both accounts involved are recorded

04:54with the same amount and belong to the debit column of the tiles one of one

04:59side increases by 450 and the other side is increases by the 450

05:05which has no effect on tile balance and resultantly we can say that this

05:13transaction fails to make tile balance total unequal I hope you will enjoy this

05:21question answer if you found any error regarding my justification or solution

05:30please mention it at comment section or we want to share your own opinion so

05:36drop your suggestion or recommendation with logical arguments or support

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