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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

When the correct numbers are used but are in the wrong order, the error is called a

(a) transposition.

(b) slide.

(c) reversal.

(d) correcting entry.

To determine

Identify the error.

Explanation

Justification for the incorrect answer

Option b:

A slide error occurs when a debit or credit amount that is entered “slides “by a digit or two from the left or right. An example for the slide error is entering $25 instead of $250. Therefore, Option b is an incorrect answer.

Option c:

Reversal error occurs when the transaction that is to be posted as debit is being posted as credit. Therefore, Option c is an incorrect answer.

Option d:

When an incorrect entry is journalized and posted to wrong account it must be corrected using the proper entry...

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