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00:00:00You
00:00:30So we will start with Rectification of Errors, Unit 6, CA Book.
00:00:53In this theory, we will start with concept lecture. Already I told you the types of errors being errors of principle, error of permission, compensating error and error of permission.
00:01:06In this theory, in the Rectification of Errors, before trial balance adjusts, after trial balance, but before final accounts adjusts, or in the next financial year after final accounts adjusts.
00:01:30Three scenarios we will rectify. Is that okay?
00:01:37So, the Rind diagram is prepared.
00:01:43Cash Business Transaction, Angernd, Journal Entry, Ledger, Trial Balance and Final accounts.
00:01:58In case of final accounts, we have three blocks. Trading, PNL account and balance sheet.
00:02:05Only balance sheet is available in the next year as a starting opening balance sheet.
00:02:11Whatever the balance left over in trading, named GP, transfer to the PNL account.
00:02:16PNL account would be a balance, net profit transfer to the balance sheet.
00:02:21We have the one more room where subsidiary books and journal proper prepared from their ledger is prepared.
00:02:31Rectification of errors could be carried over before the preparation of the trial balance.
00:02:40The process is completed by the trial balance sheet.
00:02:42When you are ready, they will be ready after the final CTD and the final proofs prepare.
00:02:48They will be prepared and finished the version.
00:02:51In the course, the first three months will be completed by the exam.
00:02:53The next thing comes to the study, in the last year, we will be recovered after the exam.
00:02:55The last few months will be cleared for the exam.
00:02:57Though, the previous one confirmedaji was his due date, it will be cleared for it.
00:03:00If you are ready, the right time will be cleared.
00:03:02Okay. Trial balance prepare for the process is a tally.
00:03:08Why does the accounts close to the account?
00:03:13Suspense account.
00:03:15If there is any one error or one side effect,
00:03:19it will be a suspense account.
00:03:24So, if you are rectifying the errors before the preparation of the trial balance,
00:03:28one side of the error is one side effect.
00:03:31But, trial balance and the error was a difference.
00:03:34Why is the account? Suspense account.
00:03:36So, while rectifying the error, having the only one account impact,
00:03:40the other account will be named as suspense.
00:03:42Balancing, right.
00:03:44Next year, again, suspense account will also be there.
00:03:50Suspense account will also be there.
00:03:54Trading and P&L account close advantage, only the balance sheet will be the opening the electric the next period.
00:04:00But, in the rectification of the entries,
00:04:02if there is any one,
00:04:03if there is any one item,
00:04:05that is the nominal account.
00:04:06Salary, rent, purchases,
00:04:09if there is a nominal account,
00:04:11if there is a nominal account,
00:04:13if there is any account,
00:04:15you can correct it.
00:04:16So, the amount amount will be there.
00:04:18Net profit, P&L account.
00:04:19So, all the nominal accounts are renamed into P&L adjustment account,
00:04:24or simply P&L account.
00:04:25So, these are the two items.
00:04:26You have to remember.
00:04:27So, before the trial balance end all,
00:04:29we do not do any adjustments.
00:04:30Simply, wherever you want to go for adjusting,
00:04:32directly go here.
00:04:33Okay.
00:04:34Purchases book,
00:04:3615,
00:04:371,
00:04:381,
00:04:391,
00:04:401,
00:04:411,
00:04:421,
00:04:431,
00:04:441,
00:04:451,
00:04:461,
00:04:471,
00:04:481,
00:04:491,
00:04:501,
00:04:511,
00:04:522,
00:04:531,
00:04:542,
00:04:552,
00:04:562,
00:04:571,
00:05:103,
00:05:111,
00:05:122,
00:05:131,
00:05:142,
00:05:151,
00:05:172,
00:05:182,
00:05:195,
00:05:202,
00:05:213,
00:05:22P&L Accounts are now changed into P&L Accounts, that you have to understand.
00:05:36Now, now, now, errors, errors, errors, errors, errors, errors, error of commission,
00:05:51error of commission and error of omission, error of omission and compensating error, compensating
00:06:18error, error of principle, error of omission, error of omission.
00:06:25In this case, we will see 4 errors in this case.
00:06:28Commission, if you are doing it, you are doing it, you are doing it, you are doing it.
00:06:34I commit mistake, error of omission, error of omission, error of omission.
00:06:41error of omission.
00:06:42You are doing it, you are doing it, you are doing it, you are doing it.
00:06:49You are doing it, casting and posting.
00:06:56So, this is the case.
00:06:57If you are doing it, casting is not the case.
00:06:59If you are doing it, casting is not the case.
00:07:005 plus 3, 6 is not the case.
00:07:038 is not the case.
00:07:05Then, casting error is under casting.
00:07:085 plus 3, 11 is not the case.
00:07:11Over casting.
00:07:128 is not the case.
00:07:13So, casting may be of 2 types.
00:07:15May be under casting or over casting.
00:07:20Under casting or over casting.
00:07:22Under casting, drawing too.
00:07:23argue since posting as a mistake,
00:07:35You have to remaining mapa mistake.
00:07:37As a mistake, you are hustling.
00:07:42Not only with this mistake,
00:07:44purchase book total transfer my right page
00:07:50so, credit look at that
00:07:52its a type of error accounti get debit credit
00:07:55side
00:07:57as of what account did you get credit
00:08:01k-raj
00:08:04A-raj account
00:08:06many of you have to buy credit
00:08:11wrong account
00:08:12combination of these two. K raajula debitula puttula a raajula creditula puttula that may also happen that may also happen that's what about posting error that's what about the posting error and omission
00:08:25omission how to puttula a raajula, complete omission complete omission complete omission complete omission
00:08:46one entry is a path, debit cell pottula, debit cell pottula, debit cell pottula, that's partial omission
00:08:53clear now partial omission
00:09:04omission
00:09:06compensating error abdinkaradhu one error in one error in one error nala error illa adhu mar uru feele create pannudhu the offsets one error offsets the other error so we cannot locate it by preparing the transference
00:09:18okay
00:09:20compensating error
00:09:22okay
00:09:23error n error in debit side should be equal to error in other side credit side
00:09:28in the maria indrishna adhu pere compensating error
00:09:31compensating error
00:09:32compensating error
00:09:33one error in one error offset pannudhu apd trail balance namakke tally aedup
00:09:37what can we do apdinkaradhu namakke pottula
00:09:40error naha principle apdinkaradhu
00:09:43principle principle
00:09:45how do you get in the confucians voreom
00:09:47principle head of the institution
00:09:49principle
00:09:52it's nothing but rule
00:09:54apdinkaradhu ipdinkaradhu
00:09:56principle
00:09:57rule
00:09:58rule
00:09:59last leu
00:10:00leu
00:10:01leu
00:10:02apdinkaradhu
00:10:03accounting rule
00:10:04thappu
00:10:05principle
00:10:06accounting rule
00:10:07to differentiate principle
00:10:08and principle
00:10:09so accounting rules
00:10:11thappu
00:10:12pannudhu
00:10:13capital expenditure
00:10:14revenue
00:10:15expenditure
00:10:16revenue
00:10:17expenditure
00:10:18capital
00:10:19expenditure
00:10:20maathir
00:10:21pottangla
00:10:22wages paid for
00:10:23installing the asset
00:10:24is a part of asset account
00:10:26asset account
00:10:27that is wrong
00:10:30that is wrong
00:10:31is that clear
00:10:33that is wrong
00:10:34it is error of principle
00:10:36accounting rules
00:10:37thappu pannudhu
00:10:38in the
00:10:40ethna vidamana errors
00:10:43leu
00:10:44compete errors
00:10:46error as compensation
00:10:49error of principle
00:10:51either
00:10:52errors
00:10:55not located
00:10:57errors
00:10:58not located
00:10:59by preparing
00:11:00not located
00:11:01by preparing
00:11:02not located
00:11:03by preparing
00:11:04by
00:11:06preparing
00:11:07trial balance
00:11:09so
00:11:10trial balance
00:11:11porting
00:11:12tally
00:11:13aid
00:11:14tally
00:11:16so
00:11:17we cannot find out
00:11:18whether there is
00:11:19any error
00:11:20that is
00:11:21compensating
00:11:22debit
00:11:26sell
00:11:27credit
00:11:28sell
00:11:29tally
00:11:30tally
00:11:31tally
00:11:32so
00:11:33error free
00:11:34that is
00:11:35wages
00:11:36debit
00:11:37capital
00:11:38expenditure
00:11:39revenue
00:11:40assets
00:11:41whatever
00:11:42it may be
00:11:43well
00:11:44trial balance
00:11:45tally
00:11:46but
00:11:47trial balance
00:11:48tally
00:11:49error
00:11:50free
00:11:51no
00:11:52we still
00:11:53have some
00:11:54kinds of errors
00:11:55which is called
00:11:56compensating error
00:11:57and error of complete omission
00:11:58principle error
00:11:59the rest of the errors
00:12:00could be
00:12:01located by preparing
00:12:02what
00:12:03trial balance
00:12:04in the error
00:12:05error of principle
00:12:07which
00:12:09clerical error
00:12:10predominantly
00:12:11the commission
00:12:13example
00:12:14error of commission
00:12:15will be
00:12:16otherwise
00:12:17named as
00:12:18clerical error
00:12:19clerical work
00:12:20sometimes
00:12:22you may be asked
00:12:23what is called
00:12:24clerical error
00:12:25error
00:12:26sometimes
00:12:27you may be asked
00:12:28what is called clerical error
00:12:29so this is the
00:12:30logics
00:12:32hope
00:12:33I have given a briefing
00:12:34you can go and refer
00:12:36the video ahead of
00:12:38solving this illustration
00:12:39now we will start solving the illustration from this topic
00:12:42moon of cases
00:12:43lemme
00:12:44rectifying the error
00:12:45locating and rectifying the error before the trial balance preparation
00:12:48or between the
00:12:50period of preparation of the trial balance and final accounts and rectifying after the preparation
00:12:54so the three aspects
00:12:56clearly
00:12:57now
00:13:02now
00:13:05here
00:13:06they have given
00:13:09wrong entry
00:13:10wrong entry
00:13:12wrong entry
00:13:13wrong casting
00:13:14in case of
00:13:16cash book
00:13:17wrong casting
00:13:18total mistake
00:13:19on the casting
00:13:21right
00:13:22now
00:13:25now
00:13:26so
00:13:29one example
00:13:30here
00:13:31for your understanding
00:13:33for your understanding
00:13:34The
00:13:46check
00:13:47collected from
00:13:48cindia brothers
00:13:4942
00:13:50240 and deposited for clearances
00:13:51You can deposit yourself but what are you going to do?
00:13:54At least when you're going to make money for the price you go to the price 42 to 240 that you got 42 to 4.
00:13:59These are the same if you're going to make money and say that you're going to get money for your money.
00:14:08So, there may be chances of mistakes.
00:14:10Okay, you know you're taking a famous accountant in a company or a company like that.
00:14:21If you have a small account, you can leave a small account.
00:14:25It's not just about a small account.
00:14:29Tell us.
00:14:30You don't understand how serious it is.
00:14:32You don't know how much they will get started.
00:14:35Just like this, you can get an account.
00:14:39If you have a small account, it's not a customer.
00:14:49If you get customers, you can get the goods and get the goods.
00:14:55And you can get the goods and get the goods.
00:14:58But you can get the goods.
00:15:03So when I joined college in college, it was a senior accountant.
00:15:11So dedicated. Because even a small mistake, you cannot find out where the mistake happened and you cannot locate it.
00:15:24So that is one example. Ademadri. And in this case, sales. 37730 is what you can do. Right.
00:15:40Bank in the bank deposit is 35,000. That is 34,500. Wages value is 12,400-12,200.
00:15:56So if you have totaled, you can see it. 93,920. Okay, this is the problem.
00:16:06In the same way, total. Okay, 920, 2, 8, 92. Am I right? 1080. So 92,920. So 93,920. So overcasting. So casting error, posting error, place errors.
00:16:28So in the classifications, we will start and understand the examples here. One after one.
00:16:36So it means illustrations, we will discuss which is not required for us. We will directly go for rectification errors.
00:16:44So in the classifications, we have already studied in detail. And we will start with the first illustration.
00:16:54Illustration number one. Come on.
00:16:56Illustration number one.
00:16:58So in the classifications, we have already studied.
00:17:04So we will see how to find the first illustration.
00:17:08Now, how do you rectify the following errors in the books of Ramanco?
00:17:29Ramanco. Okay, we assume errors rectified before the preparation of what? Trial balance. That's why we assume before trial balance. Right.
00:17:47The total of purchases book has been undercast by 100. Purchases book has been undercast by 100. Purchases book has been undercast by 100.
00:18:09Clear? Jail entry, debit, credit side, credit side, credit side is not available. And trial balance is not available.
00:18:19Credit side is not available. And the different suspends have been undercast by 100. So, purchase have been undercast by 100.
00:18:25After the preparation of final account, purchase account is going to be replaced with the P&L adjustment account, debit to suspends account. Is that clear? Very simple. One over.
00:18:37Two, the returns inward book has been undercast. Returns inward. That's the sales return. Sales return, there is no balance. Debit balance. Debit balance. Debit balance is coming up.
00:18:49So, returns inward account. Returns inward. Okay. Clear?
00:19:02The sum of rupees 250. Return of as depreciation and machinery has not due to the cost.
00:19:11The sum of rupees 250, return of as depreciation and machinery has not due to the cost.
00:19:16Purchase invader sorry return invader debit pannu third one okay a sum of rupees 250 return
00:19:30of as depreciation on machinery has not been debited to the depreciation account, then
00:19:35it is casting error error type casting error under casting, return of as depreciation
00:19:45on machinery has not been debited to the depreciation account, assets will be value reduced
00:19:49mañtta, anna edhi la payy adjustment le depreciation akko relle poodala, apay edhi vandhi
00:19:54ondhi omission, omission la edhi vandhi full omission na partial aar, partial omission okay,
00:20:02edhi la mattu omit pannin erukkaraang, depreciation, so depreciation le payy debit pannin erukkaraang,
00:20:07depreciation akko re, debit pannin erukkaraang, the value being 250, is that clear omission
00:20:12of posting, omission of posting okay, usually we don't pass the entry for this, edhi
00:20:17klaan entry kadeitha, dandhi akkoon la payyttu, yenna innu moodikke vayel hiay, trial balance
00:20:21on moodikke vayel hiay, aunga aunga pay adjust pannin erukkaraang, fourth one, a payment of
00:20:2675 for salaries to Mohan, has been posted twice to salaries account, apay edhi vandhi
00:20:32enna the error of commission okay, I committed mistake, rindu moore post pannin erukkaraang,
00:20:38oorumbura ekstra post pannin erukkaraang, reverse pannin erukkaraang, yedhi la salaries
00:20:43le matu, cash book le payment sereyundhe salaries niru pottin erukkaraang, cash book le
00:20:50nindhi salary sarkoang la pottu yengil liya, cash book le nindhi salary sarkoang la pottu
00:20:54reddu moore pottu yengil liya, natukkuma liya, so yepo puri idha nana ondhi
00:20:57singar akadim book le nindhi 9th illustration, surgery books pottu yengil liya, natukkaraang,
00:21:02adhu poodam padu yengil liya, nindhi logic kala puri nho, aundh logic yirudhahal dhaa nindhi topic
00:21:06la unindhi isa puri njukkuma, yepo cash book pottu yengil liya, adhile salaries irukkut, say,
00:21:12naunče and betnitiçekkuma, Exactly cara pottu yengil liya, cash book lights
00:21:16com nende house, cash account open and salaries
00:21:20sakon nd you can open and get an outfit ondhi, salaries account like
00:21:25sa naunče katnidd PB get c Kimpe dai pottu yengil liya, Şadhi Yenek lindhi
00:21:28mani Jest it opportunity idu,asten northe zong additionalción there
00:21:32hora pottu yen lindhi salaries you can shut down so it is an adhi
00:21:34knowceratikеб wouldjake assembly harina trust be acting
00:21:36sub formation of a andeficio on tulis
00:21:39Rectification of error is one of the beautiful champs. When I joined CMA course, my teacher told me, the very first class. So, the moment I plan to pass or join the CMA exams, I want to clear that in single shot. That was my plan.
00:21:58So, my teacher told me, the same thing, they had to go to pass or do that, but they did not. So, the same thing.
00:22:17But the teacher said that you have a master of financial council in 3 chapters.
00:22:22You have to do that.
00:22:24And in 3 chapters, one is rectification errors.
00:22:27The two are single entry, the three are non-profit organization.
00:22:32If you are strong in 3 chapters, you will have to go back to that.
00:22:38If you have a rectification error, you will have to go back to that.
00:22:45You will have to go back to that.
00:22:50You will have to go back to that.
00:22:52The foundation is strong.
00:22:55Inter is not a debit and credit.
00:23:00Inter is not a partnership or company.
00:23:05Stocks value is not a entry.
00:23:07That is correct.
00:23:10In English language, you will have to go back to that.
00:23:16You will have to go back to that topic.
00:23:18If you have a topic, you will have to go back to that topic.
00:23:21One thing is that you will have to go back to that topic.
00:23:23The points were being said, coffee is prepared for that.
00:23:25You are prepared for that, you can use milk, coffee powder, sugar, heat, and boil.
00:23:34I asked you to prepare some other dish, as you can get it?
00:23:42When you are prepared, you are prepared for that language.
00:23:45You are asked by the foundation of the language.
00:23:48What is the accounting language?
00:23:50Debate credit language.
00:23:52That is the rectification errors.
00:23:54Single entry, non-properable organization.
00:23:56The third thing is to do the same thing.
00:23:58That is the same thing.
00:24:00The same thing is to do the same thing.
00:24:02You will become a master with this.
00:24:04So, this is the logic.
00:24:06If you want to do it,
00:24:08why do you want to do it?
00:24:10In the 9th illustration,
00:24:12if you want to do it,
00:24:14you will have a silly mistake.
00:24:16If you want to do it,
00:24:18if you want to do it,
00:24:20then you can do it.
00:24:22So, that aptitude will come to you.
00:24:26So, I don't want to discuss further.
00:24:28So, I have to finish up.
00:24:30So, I just gave the instruction.
00:24:32Finish up rectification of single entry,
00:24:34non-profit organization to master in accounts.
00:24:36If you want to do it,
00:24:38you will be able to do it.
00:24:40Now, if you want to do it,
00:24:42we will reverse the salary.
00:24:44So, the fourth entry being,
00:24:46salary is a credit.
00:24:48The value being,
00:24:5075.
00:24:52Fifth one.
00:24:54The total of bills receivable book,
00:24:561500 has been posted to the credit of the bills receivable account.
00:25:00bills receivable,
00:25:02bills receivable,
00:25:04asset,
00:25:06debit balance,
00:25:08like purchases.
00:25:10Jan.
00:25:11Here,
00:25:12our cash
00:25:29BR account, we can do what we need to do, how do we need to do, 3000, that is 1000 finder debit sale, that is not 10000, credit sale, neutralize the opposite side of the 1000 finder debit, so rent number, we can do 3000, then the value being 3000, is that clear, so online you can post the answers also, you can post the answers also, clear
00:25:59now, now, 6 to 1, an amount of rupees 151 for a credit sales sales to hurry, although correctly entered in the sales book, has been posted at 150,
00:26:15now, how do we need to record, credit sales to hurry, although correctly entered in the sales book,
00:26:23but in the sales book, we need to transfer to 150, we need to get 150, we need to get 150, we need to get 150,
00:26:29that is, we need to get 150, we need to get 150, we need to get 150, in order to get 150, 30,
00:26:36so that is now we need to get 150, so we need to get 150, right?
00:26:43the party's name, where are you going to go? And the concern is the party's name. Debit sale is 151, and the difference is 36. So, if you want to debit account, debit is 36.
00:27:02Clear? You can debit 36 rupees.
00:27:09So, if you want to debit account, it will be short cut.
00:27:20If you want to debit account, it will be a exact number.
00:27:26If you want to debit account, it will be a round number.
00:27:38To locate the errors. It is out of your interest. And additional learning. Of course, the example of that.
00:27:43Practically, if you want to use it.
00:27:45If there is a difference, there is a difference.
00:27:49There is a difference. There is a difference. There is a difference.
00:27:51There is a difference. There is a difference. There is a difference.
00:27:53You can correct the error.
00:27:54You can correct the error.
00:27:55You can correct the error.
00:27:56You can correct the error.
00:27:57Now, last, seventh one.
00:27:58errors of location of errors. Now last seventh one. Discount allowed to studies 25 has not been entered in the discount column of the cash book. The amount has been posted correctly to the credit office personal account.
00:28:15Discount allowed. Discount allowed. Discount allowed. Discount allowed. So now you have to debit the discount allowed here. Discount allowed. Debit. Credit.
00:28:35Credit. That's correct. So one side error. So you understand? So you understand? So you understand? Discount allowed account.
00:28:51Discount allowed. That's right. To credit are 25. Okay. Omission of Discount principal to code.
00:29:02This is what you have to do. No issues. Both methods are correct only. Let's now move on to the illustration number two. Some code are here.
00:29:17So just keep on with your account. Just keep on with your account and keep on with your account.
00:29:24okay
00:29:50now
00:29:50the following errors were found in the books of rom prasad and sats
00:29:57give the necessary entries to correct them
00:30:00okay
00:30:02entries namakurukkupudu
00:30:04onadukki entry kuda tavella
00:30:05anandand the ledger akkonla pe saripanyelela
00:30:07ippet entries happurro
00:30:08finder paid for furniture purchased has been charged to the ordinary purchaser
00:30:12apay thundan idd
00:30:13error of principle
00:30:16error of principle
00:30:18purchase akkonla pe debit pernil amma
00:30:21furniture akkonla pe and capital expenditure
00:30:26purchase akkonla pe and nominal account and revenue expenditure
00:30:29that is capital revenue or revenue capital over the other
00:30:32that is the error of principle
00:30:34appurniture inna debit pernil amma debit pernil amma
00:30:36that is debit pernil amma
00:30:37furniture debit pernil amma
00:30:38tappan ead debit pernil amma
00:30:38churukkurau
00:30:40purchases debit pernil amma
00:30:42Purchases debit pannhi irukkroon. Adha cancel pannhi pannhi. Adha credit pannhi. Two purchases. Okay. You have to finish off concept lectures beforehand. Do serious preparation along with me.
00:30:58Second. Repairs made were debited to building account for rupees 50. Repairs made were debited to. Building kind of repair. Repairs will be debited to the PNP. Mobile vangarikina capital expenditure. Mobile vangarikina capital expenditure. Mobile vangarikina top up and revenue expenditure.
00:31:24So, the value being 50 each.
00:31:31So, the value being 50 each.
00:31:38So, but debited to building account. Thappa debit pannhi building account reverse pannhi. Adha debit pannhi maadha debit pannhi. Repair debit pannhi. Repair account debit. Thappa debit pannhi building account reverse pannhi by crediting it. So, the value being 50 each.
00:31:53Third. Third. Third one. An amount of rupees 100 withdrawn by the preparator for his personal use has been debited to the trade expenses.
00:32:04So, the value being 50 each.
00:32:05So, the value being 100.
00:32:06This value being 100.
00:32:07This value being 100.
00:32:08Fourth.
00:32:09100 rupees paid for rent debited to landlord account.
00:32:11100 rupees paid for rent.
00:32:12100 rupees paid for rent.
00:32:13So, the value being 100 rupees paid for rent.
00:32:14So, the value being 100 rupees paid for rent debited to landlord account.
00:32:15So, the value being 100 rupees paid for rent.
00:32:28This value being 100. Fourth, 100 rupees paid for rent debited to landlord account.
00:32:38100 rupees paid for rent. Rent ikkore 100 rupees payip neerukkaraang.
00:32:43If you rent debit peenneyerukkaraathe landlord account debit finneyerukkaraang. Okay?
00:32:48Rent debit for the landlord account. Landlord account debit for the landlord account.
00:32:54He is being the debtor.
00:32:57The value being 100. The value being 100. Okay? Landlord account. Fifth. Fifth.
00:33:21Salary 125 paid to clerk. Due to him has been debited to his personal account. Salary 125 paid to clerk. Okay? Has been debited to his personal account.
00:33:37Salary debit peenneyerukkaraas, salary debit peenneyerukkaraaang.
00:33:39All debit peenneyerukkaraathe k pronto.
00:33:43That means, what are you doing? Salary debit pennneyerukkaraang.
00:33:57clerk personal account 128.6th, 100 rupees received from Shan Po has been wrongly entered from Shan Po. Shan in the pair of baghale in the pair.
00:34:12So, this is the shop.
00:34:15So, what do you do with the shop?
00:34:19Okay.
00:34:21So, this is the shop.
00:34:24100 rupees received from the shop.
00:34:29This is the shop.
00:34:322 shop.
00:34:35So, this is the shop.
00:34:44This balance being 100.
00:34:47So, Anushree asked me,
00:34:50Sir, in the concept lecture, correct entry, wrong entry, rectification entry, 3 entry put in the shop.
00:34:55This is the final entry.
00:34:57You can explain it.
00:34:59You can explain it.
00:35:01You can explain it.
00:35:03You can explain it.
00:35:05Correct entry.
00:35:06Wrong entry.
00:35:07What do you do?
00:35:08Rectification.
00:35:09You can teach it.
00:35:10But, subsequent,
00:35:123, 4,
00:35:131,
00:35:141,
00:35:151,
00:35:161,
00:35:171,
00:35:181,
00:35:191,
00:35:201,
00:35:211,
00:35:221,
00:35:231,
00:35:241,
00:35:251,
00:35:261,
00:35:271,
00:35:281,
00:35:291,
00:35:301,
00:35:311,
00:35:321,
00:35:331,
00:35:342,
00:35:351,
00:35:371,
00:35:381,
00:35:392,
00:35:401,
00:35:412,
00:35:421,
00:35:432,
00:35:441,
00:35:451,
00:35:481,
00:35:491,
00:35:502,
00:35:512,
00:35:52this value being 700 this value being 700 with that illustration 2 is over
00:36:22okay let's move on the third illustration
00:36:49let's now start with this one
00:36:52now give journal entries to rectify the following purchase of goods from rom accounting to rupees 150
00:37:16has been wrongly entered through sales book
00:37:18so purchase is the product of sales
00:37:23is the entry what is the rectification
00:37:30to rom so you got it
00:37:37whether you have a technique guess what we need
00:37:41anusri are you able to think
00:37:46this is the right entry and wrong entry
00:37:53correct entry is the purchases book
00:37:55purchase book
00:37:57purchase book
00:37:58rom account record
00:38:01that is the right entry
00:38:02that is the right entry
00:38:04purchases of debit
00:38:06to rom
00:38:08the value being 150
00:38:12wrong entry
00:38:14to rom
00:38:32is the right entry
00:38:37is the right entry
00:38:39is the right entry
00:38:41is the right entry
00:38:50is the right entry
00:38:52is the right entry
00:38:54that is the right entry
00:38:55is the right entry
00:38:56so if you have the right entry
00:38:57sales is the right entry
00:38:59if you are able to think, if you are being the advanced level, even you can think this illustration directly.
00:39:29The answer could be guessed directly. Shall I move on to the next one? Credit sale of goods amounting to rupees 120 to Ramesh has been wrongly passed the purchases book.
00:39:44Now, if you are going to reverse, if you are going to reverse it, then you are going to reverse it. Credit sales. Sales will go to the next one.
00:39:52That is the Rectification Entry data way for it. Two sales. Purchases, if you are going to reverse it, there are two purchases.
00:40:00$120, $120. Sales will go to Ramesh debit. That is why we are going to debit, $120. That is why we are going to debit, $120.
00:40:14So, if you are able to guess, then, of course, you are almost getting ready for being the professionals.
00:40:20CAO, CMAO, that is what you are going to do.
00:40:27If you are going to be assistant, what are you going to do?
00:40:32What are you going to do? What are you going to do?
00:40:44What are you going to do?
00:40:48Is that all of you going to do?
00:41:06You are going to meet the law.
00:41:10The Net True Iron concepts are not valid, 10 some, it will come up by you will get 20 some
00:41:17and that will come and look at all times three times.
00:41:20In this stage you must be receiving, once you are a Master, then you will be strong then.
00:41:28He said you will pass on.
00:41:33Next end, on 31 December 2022, goods of the value of 300 are written by Hari Sarell
00:41:40and were taken into inventory on the same date, but no entry was passed. No entry passed.
00:41:46It is very simple. Error of omission. It is posting error. It is posting error.
00:41:53In the book concept, over illustration, what kind of error is this? How can you classify these kinds of errors?
00:42:06In the same way, Hari Saran were taken into inventory. It is the error of omission. That is complete omission.
00:42:13Now, it is the general entry. Just you have to pass. It is one of the sales written.
00:42:19So, sales written upon debit to Hari Saran. Okay. Hari Saran. The value being 300. Clear?
00:42:354th entry. 4th entry. An amount of rupees 200 due from Magesh Chand, which had been written off as bad debt in the previous year, was unexpectedly recovered.
00:42:56Magesh Chand, had been posted to the personal account of Magesh.
00:43:08Bad debt recovery.
00:43:10Bad debt recovery.
00:43:12Bad debt recovery.
00:43:14Bad debt recovery.
00:43:16Bank account debit. Correct entry being...
00:43:18Bad debt recovery.
00:43:47Bank to Magesh. The value being 200. Now, you have to pass the rectification entry.
00:44:01Renly me, that is not a reason for the error. Score out. Correct entry.
00:44:08Is that ok? When you feel the illustration needs some more attention to null, correct entry,
00:44:26wrong entry go to rectification entry pass. If you are very clear, then you can directly
00:44:31post that. Ok? Then fifth one. Fifth one. A cheque for rupees 100 received from Manmohan
00:44:45was dishonored and had been posted to the debit of sales written up. Manmohan written
00:44:52check designer age. Check designer age. Correct entry. Bank to Manmohan, designer
00:45:00reversal. Manmohan to bank. Manmohan to bank. Rectification of entry strong are
00:45:09are there. Gel entry, ledger, trial balance and gel entry. Surgery book, journal proper,
00:45:15trial balance for that. And the structure clear are there. Single
00:45:19book books are there. And the first set of general entry is clear. And the
00:45:22sample by heart. That is unique, unique, different, different cases. That
00:45:28means that if you are going to get the bank or order after bad debt recovered, there is
00:45:31a gel entry. If you are aware of the gel entry, you are going to get the
00:45:35interest. If you are aware of the gel entries, you are going to get the
00:45:36interest, then you are going to get the rectity. So Manmohan debit to bank. That is what
00:45:41about the correct entry. Value being 100. If you are going to get the sales return,
00:45:46sales return to bank. Okay. Sorry. Sales return to bank. Okay. Sorry. Sales return to bank. Okay.
00:46:08Sales return account. Okay. Sales return account. Okay. Sales return account. Okay. So to bank. Okay.
00:46:29okay. Okay. Sales return book should write down 1 mówi th посмотреть, that is what
00:46:32Type 4 claim. It is how credit card申 chiffon account. Another estimate account,
00:46:35account, You will have minute胡 aquele mustaden chiffon discount versus amount
00:46:37idle. So here bank is common. You can score out.
00:46:47And wrong entry level of sales return are reversed, two sales returns, two sales returns,
00:46:58the value being handed, clear.
00:47:05And that illustration three is over.
00:47:20Shall I go for the illustration number four?
00:47:28Now illustration number four.
00:47:55Correct the following errors, without opening suspens a con, opening suspens a con, suspens a con
00:48:20and suspens a con, suspens a con, open debit or credit or miss a con, suspens a con
00:48:30and suspens a con, just a refilling the name.
00:48:34Let's see.
00:48:39Sales book has been totaled hundred short under casting.
00:48:44Then sales book has been totaled hundred rupees credit.
00:48:49Clear?
00:48:51No.
00:48:53No.
00:48:54No.
00:48:55So, sales book will buy in the bottom.
00:48:58Buy?
00:48:59Wrong totally.
00:49:00Credit sale in the bottom.
00:49:01Credit sale in the bottom.
00:49:02Credit sale in the bottom.
00:49:03Credit sale in the bottom.
00:49:04Okay.
00:49:05Two buy.
00:49:06That's the same.
00:49:07Buy.
00:49:08Buy.
00:49:09Wrong totally.
00:49:10Credit sale in the bottom.
00:49:11Credit sale in the bottom.
00:49:12Credit sale in the bottom.
00:49:13Credit sale in the bottom.
00:49:14Okay.
00:49:15Two buy.
00:49:15Two sales.
00:49:16Wrong total.
00:49:17Value being 100.
00:49:18B.
00:49:19B.
00:49:20Goods worth 150 returned by green company have not been recorded anywhere.
00:49:24Complete omission.
00:49:25full general entry protocol.
00:49:26Okay.
00:49:27The sales return.
00:49:28So, sales return upon David.
00:49:30To green and co.
00:49:35Green and co.
00:49:36Green and co.
00:49:38have not been recorded anywhere, complete omission, full general entry protocol, sales return, so sales return have come to be, to green and co, green and co, omission
00:49:56or returns in word 150, see goods purchased to 250 have been posted to the debit of the supplier Gupta and Co, purchase
00:50:17purchase is cut, okay, clear, then Gupta was the debit of the seller, so there is a rectify, credit it, so what value, 500 rupees
00:50:42the piece.
00:50:43Tappah Pota debit a cancel button to 250, correct a Pota value value go 250, find a piece
00:50:49on no.
00:50:50Tucknup Poodi Liye Sir, Appa Correct Entry, Wrong Entry Pota Pota, you will get the answer.
00:50:54So, Correct Entry being in the illustration, purchases upon debit to Gupta & Co, it is
00:51:07correct entry.
00:51:11So, Wrong Entry, Purchase upon debit and Gupta account also debit.
00:51:21So, this is a foolish error.
00:51:26One gel entry in the portal, one debit credit is not available, but the debit credit is not available,
00:51:32you are already using the link.
00:51:33So, the advertisement to Profase will appear in the description, nothing is available on the
00:51:34album.
00:51:35But the opportunity lies to read it and you will be able to read it, tell it it is not the
00:51:36meaning of it, but the performance of the account, then it is not available.
00:51:39So, the main information should be told.
00:51:40yeah posting
00:51:42so you will see your video
00:51:44and you will see the video
00:51:46that's why i am not a good question
00:51:48you will see all the time
00:51:50from here
00:51:52in the video
00:51:54okay
00:51:56you will see the video
00:51:58in the video
00:52:00arguments
00:52:02when you see the video
00:52:04the video
00:52:05when you see the video
00:52:06So, it is not due to passing the purchase account.
00:52:36So, it is not due to preparation of the practical accounting system.
00:53:06So, it is not due to passing the purchase account.
00:53:08So, it is not due to passing the purchase account.
00:53:12So, it is not due to passing the purchase account.
00:53:14So, it is due to passing the purchase account.
00:53:18So, it is due to passing the purchase account.
00:53:20So, it is due to passing the purchase account.
00:53:22So, it is due to passing the purchase account.
00:53:24So, it is due to passing the purchase account.
00:53:26So, it is due to passing the purchase account.
00:53:28It is due to passing the purchase account.
00:53:30So, it is due to passing the purchase account.
00:53:32So, it is due to passing the purchase account.
00:53:34Like the purchase account.
00:53:36So, I am sorry.
00:53:38I am sorry.
00:53:40Still remember.
00:53:42JHA is a person who said it.
00:53:45You told me about your career.
00:53:48I don't know JHA is a person.
00:53:50Then, they got a leg spin.
00:53:54Do you know?
00:53:56One Phasma?
00:53:58No.
00:54:00India is a person who is a person who is a person who is a person who is a person who is a person.
00:54:08a quality bowler, fast bowler, last over, tricky and that is the world to get a leg spinner.
00:54:17If the leg spinner is a medium face bowler, I think.
00:54:23I will say, what do you say? I will say once India gets defeated, the world will speak about it.
00:54:34Donny might have given the last word to the fast bowler. Donny might have introduced the third player as a second player.
00:54:42Such lots of advice could be there. The world will keep on advising me.
00:54:48How can I ask them not to speak about me or shut their mouth? Only showing the result. Now no one is speaking about that.
00:54:56If you want to advise you, you will do the same thing. If you want to advise you, you will do the same thing.
00:55:04How do you relate to me? Okay. She did immediately after plus two CME.
00:55:12She decided to practice. Donny might have breached you existing on December 8th.
00:55:16You go to veneric CalitheC々 and you take the courses you need to go in a long time.
00:55:19How do you work in the microelectBox because they pracy all the Pode Botolicals under no one!
00:55:21What are you teaching? If you call like you. This world is writing doesn't matter.
00:55:27So that means something will work you. Whatever it is, no one is preparing the school to attend.
00:55:28Like BolibHome
00:55:36So, you can shut the world by your results, you can shut the world by your results, otherwise the world will keep on advising you, advice on your own question, is that no?
00:55:56If you say to your advice, please ask, you need advice in your advice, I will give you advice, you can go in your own advice and you will go to your own advice, so I was pretty rigid, but I am telling you the fact, shut the mouth with your results, that's why you can watch the video and work out, you can be a master, so if you want to hear the error in this video,
00:56:25I am getting more clarity. That is converted into singer-academy's proof.
00:56:30Singer-academy's proof is day one, first to run sequence, last chapter will be the impact of the first chapter.
00:56:39If you tell me, I will tell you, I will tell you. I will tell you.
00:56:44I will tell you. I will tell you. I will tell you.
00:56:47I will tell you. I will tell you.
00:56:52You can tell you.
00:56:56First chapter and last chapter.
00:56:58All the content is smooth.
00:57:04You have made the chapter.
00:57:07When you tell me, I will tell you.
00:57:09If you tell me, you tell me that.
00:57:12And the Rectification Errors, you will get the knowledge over that.
00:57:30Okay, let's now move on.
00:57:32Rectification Errors are both purchases correct.
00:57:36Purchases correct.
00:57:38Clear?
00:57:40Correct entry will have Gupta credit.
00:57:42Wrong entry will have Debit will have Gupta reverse.
00:57:45To Gupta.
00:57:47To Gupta here.
00:57:49Okay.
00:57:50250 plus 250.
00:57:53Find.
00:58:00And D.
00:58:02D.
00:58:04Furniture purchased from Gula Brothers.
00:58:081000 has been entered in the Purchases Debit.
00:58:10Thappu.
00:58:11Error of principle.
00:58:13Error of principle.
00:58:15Furniture on here in the Asset on here.
00:58:17Furniture debit debit purchase debit debit.
00:58:20Tappu.
00:58:21Furniture debit debit debit.
00:58:22Tappu.
00:58:23Purchases debit debit debit.
00:58:24That is reverse.
00:58:25Okay.
00:58:26You can go to Pace.
00:58:28Renting.
00:58:29Orientate.
00:58:30Furniture debit debit.
00:58:31You can go to Purchases.
00:58:32You can go to Purchases.
00:58:33The value being.
00:58:341000.
00:58:35Tappu.
00:58:36Purchases.
00:58:37Purchases.
00:58:38The value being.
00:58:391000.
00:58:40Tappu.
00:58:41Purchases.
00:58:42Debit debit debit debit debit reimbursement.
00:58:43Tappu.
00:58:44E.
00:58:45Discount received from red and black.
00:58:50Rs15 has not been entered in the discount column.
00:58:53Discount column.
00:58:54Discount column.
00:58:55Discount column.
00:58:56Discount column.
00:58:57Discount column.
00:58:58Discount received.
00:59:00is your income.
00:59:01Okay.
00:59:02Two discount received.
00:59:03Red and black.
00:59:04Our debit debit.
00:59:05Red and black.
00:59:06Red and black.
00:59:07On debit.
00:59:0815 and 50.
00:59:09F.
00:59:10Discount allowed to Mr. G. Mohan and P.
00:59:13Co.
00:59:1418 has not been entered in the discount column of the cash flow.
00:59:16The account of G. Mohan company has over been correctly posted.
00:59:18Discount allowed to record.
00:59:19But, party name.
00:59:20Recorded.
00:59:21After.
00:59:22Discount.
00:59:23No.
00:59:24No.
00:59:25No.
00:59:26No.
00:59:27No.
00:59:28No.
00:59:29No.
00:59:30No.
00:59:31No.
00:59:32No.
00:59:33No.
00:59:34No.
00:59:35No.
00:59:36No.
00:59:37No.
00:59:38No.
00:59:39No.
00:59:40No.
00:59:41No.
00:59:42No.
00:59:43No.
00:59:44No.
00:59:45No.
00:59:46No.
00:59:47No.
00:59:48No.
00:59:49No.
00:59:50No.
00:59:51No.
00:59:52No.
00:59:53No.
00:59:54No.
00:59:55No.
00:59:56No.
00:59:57No.
00:59:58No.
00:59:59No.
01:00:00No.
01:00:01No.
01:00:02No.
01:00:03No.
01:00:04No.
01:00:05No.
01:00:06No.
01:00:07No.
01:00:08No.
01:00:09No.
01:00:10No.
01:00:11No.
01:00:12sales return upon debit to green and gold, green and gold.
01:00:42Third, debit side missing, debit side suspends upon debit to Gupta, the value being fine, D
01:01:03no change, furniture upon debit to purchases 1000, 1000, E varambooth red and black, red and black upon debit,
01:01:21to discount received, 15, E varambooth, discount allowed account debit, discount allowed account
01:01:35debit, credit side missing, adhaanadha, inna name poodukaraya, suspends account poodukaraya,
01:01:43hope so, you will be now able to understand. Finally, you can open the suspends account also to
01:01:51neutralize the suspends account. Okay?
01:01:55Okay? Now, trial balance, you can open the suspends account.
01:02:01Suspends account will open the suspends account.
01:02:032 sales, 100, 2 Gupta, 500, buy discount account, 18.
01:02:132 Gupta, 500, buy discount account, 18. Now, you can open the suspends account, 600, 600,
01:02:31you will get the balance, 582. This is the balance carried on, credit balance,
01:02:40and then trial balance, in that will be 582. Trial balance, if you can apply to tally,
01:02:45you can apply to tally, you can apply to tally, you can apply to tally, that's the credit
01:02:50and the car will be neutralized. The amount available in suspends, I mean trial balance and suspends account,
01:02:56after rectifying all these things, suspends account will have no balance, 0 h, 0 h,
01:03:01it will be rectified as a result. Still tally,
01:03:03still errors are there. Tally,
01:03:06confirm error free, there may be compensating error, error of principle, error of completion,
01:03:12omission also be possible, depending on my logic. So, with that fourth illustration is over.
01:03:17Now, let's move on to the fifth one. Rectification errors, there are illustrations,
01:03:36illustrations are there. Illustrations are there. Illustrations are there,
01:03:39XIS is a problem. It is not possible to finish off in one hour. Okay. Next week, minimum in the
01:03:46session, we will see. Okay. So, balance in the next week. That is the CMA book
01:03:53there. Illustrations are there. Let's see illustration number 5.
01:03:59Yeah. Correct the following year, errors found in the books of Mr. Dutt. The trial balance was out by 3 A93 excess credit.
01:04:23credit sale is 3 A93. But credit sale is 4 A93 excess R. Suspends account.
01:04:32Debit balance, sir. It should be debit balance. Is that clear? Debit balance should be 493.
01:04:40Clear? If I am in the, in the, in the, in the, in the entries law put to rectify pannu. 493 score out of,
01:04:57at the maripoon. Score out of which, still there may be further errors are also there,
01:05:03located. Okay. So, one of the interesting illustration and comprehensive also. Okay.
01:05:08There are 9 items in the review. We will solve all these things one after one. The difference
01:05:15thus has been posted to the suspense of the Namakandam judge. A. An amount of rupees 100 was received from DDoS,
01:05:22has not been omitted, has not been omitted, has been omitted to enter in the cash book.
01:05:27Mothamay omit pannagappad, the error of complete omission. A. An amount of rupees 100 is just pass the entry.
01:05:34Bank account debit or cash account debit to DDoS. To DDoS. The value being 100.
01:05:45B. The total of returns inward book for December has been casted by 100. Short.
01:05:57Returns inward debit balance. Sales return liya, appa debit pannu irukku no?
01:06:02David say that. David say that. So, returns inward. David. Critic say that.
01:06:14Returns inward book total than tappu.
01:06:18A. Spendash.
01:06:292. Suspense of what. 100.
01:06:30C, the purchase of an office table costing 300, has been passed through the purchase table.
01:06:46Office table vayenge irukkara arra arrupae purchases na poota.
01:06:48Remember simple entry, error of principle, office table la debit pannunga, purchases la tappa debit
01:06:55pannunga irukkara arra credit pannunga, two purchases, the value being 300.
01:07:08C, 375 paid for wages to workmen for making showcases had been charged to wage support.
01:07:22C, the value being 300.
01:07:23Then E, the value being 300.
01:07:24E, the value being 300.
01:07:25C, the value being 300.
01:07:27Purchase of 67 had been posted to the trade entity as part of the assets as part of the assets
01:07:32c.
01:07:33debit funding and wage is a credit funding, two wages, the value being 375.
01:07:50Then E. Purchase of 67 had been posted to the trade payables account as 60. Purchase
01:08:01to trade payables for no. Purchase is 67, trade payables 67, under return only for trade payables.
01:08:11Trade payables, credit payables, credited by 7, the shortage.
01:08:18One side is missing, and the other side is suspended. Suspense. Suspense
01:08:29account debit, 7 rupees. F. A check for rupees 200 received from P. P. C. Joshi had been
01:08:42dishonored and was posted to the debit of Alevance's account. P. C. Joshi
01:08:49check check. That is designer age. Designer age, what do you want to do? Again, P. C. Joshi
01:08:57had debit. That is a discounted Alevance's account. That is a discounted Alevance's account.
01:09:02So, if you are a discounted Alevance's account. So, what do you want to do?
01:09:06If you want to do a discount, how do you want to do a discount?
01:09:08P. C. Joshi to bank. Who wants to do a discounted Alevance's account.
01:09:12P. Perfect entry. Correct entry. josee to bank. passado
01:09:18RONG entry. josee to bank. Italiavance's account.
01:09:21Bank. Bank, one problem, not only.
01:09:25allergy value
01:09:422000 paid for purchase of motorcycle for Mr. Death, for his personal use had been charged
01:09:56to miscellaneous expenses. Personal use is not detested, drawings are debit, miscellaneous
01:10:01expenses debit, drawings are debit, miscellaneous expenses reverse by crediting it, miscellaneous
01:10:11expenses, the value being 1000, the value being 1000. Hitch, goods amounting to Rs. 100 had
01:10:25been written by customer, were taken into inventory, but no entry in respect of which was made into
01:10:33the book. Complete omission. 100 Rs. in the sales return, customer
01:10:40return when you are in the inventory. If you are in the inventory, you are in the
01:10:44N.S.R., you are in the stock, you are in the entry pass, you are in the final accounts,
01:10:51details. In the final accounts chapter, goods written or goods sold, pending approval,
01:10:57in the statement, you are in the inventory, and you are in the inventory. So, I confine
01:11:02here. In the statement, there is an important account. Okay. Then, goods amounting to Rs. 100
01:11:08has been returned by customer, it is sales return completely omitted. Now, you have to write.
01:11:12Returns inward, our sales return returns inward account debit to customer parent not given,
01:11:27so debtors, debtors, the value being 100. I, the sales of rupees 200 to Singh and co, was
01:11:39was strongly credited to their account. Entry was correctly made in sales book. Sales
01:11:46is going to be sale. Sales is going to run that in sales. In sales it is what you are
01:11:49doing. Sales is what you are doing. Sales is going to be a debit to sale. Okay. In sales
01:11:53Debit. Okay, this is correct entry. What is it?
01:11:57Single debit. Correct entry being, single debit. Two sales.
01:12:05If you want to make sales, two sales. Single debit.
01:12:13Single credit. Again, subsidiary books. Sales is no. Single debit.
01:12:21Debits
01:12:25Single credit.
01:12:31Credit
01:12:35Now, we can open the suspense account.
01:12:52You know that suspense account would be a opening balance being in debit side with 493, clear
01:13:05suspense account, debit side left balance, 493, now post all the suspenses account.
01:13:24Here is buy return inward, value 100 and two trade payables, value 7.
01:13:42And here is suspense 400 rupees, buy sink account.
01:13:49Tally, all the balance in suspense account disappeared.
01:13:57At least, there may be some error, may be some error being unlocated by the trial balance.
01:14:04So, with that we have completed five illustrations, the rest will continue in the next class.
01:14:13So, let's get started.
01:14:14Let's get started.
01:14:15Let's get started.
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