Mastering Correction of Accounting Errors Flashcards

Decks in this Class (5):

• Section 1 Where Errors Occur And How The

  Section 1 - Where errors occur and how they are found

  Sample Cards:

  annual depreciation was calculated using,

  your companys payment of 350 was debited,

  perryco forgot to recored annual interes
  37 Cards
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• Section 2 The Bank Reconciliation

  Section 2 - The Bank Reconciliation

  Sample Cards:

  the companies cash ledger balance is 6 7,

  if there is a separate cash account for,

  cash deposits are _____ for the company
  39 Cards
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• Section 3 Finding And Correcting Errors

  Section 3 - Finding and correcting errors using the Unadjusted Trial Balance

  Sample Cards:

  if the difference between the totals deb,

  what are the three trial balances,

  to find the errors causing a trial balan
  30 Cards
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• Section 4 Correcting Current Period Accr

  Section 4 - Correcting Current Period Accrual Errors

  Sample Cards:

  if expenses are accrued for 140 instead,

  if expenses are accrued for 1 200 instea,

  if a company forgets to accrue an expens
  38 Cards
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• Section 5 Correcting Current Period Defe

  Section 5 - Correcting Current Period Deferral Errors

  Sample Cards:

  what is a deferral error,

  an error of deferred revenue takes place,

  how is a deferral error corrected if it
  7 Cards
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