Cheat sheet · Class 11 · CBSE · Commerce Accountancy
Trial Balance and Rectification of Errors cheat sheet
The whole chapter on one page: key formulas, facts and the points to remember, for quick revision before a test.
CBSE Class 11 · Accountancy
Cheat sheet
Chapter 6Trial Balance and Rectification of Errors
Errors: Omission, Commission, Principle, Compensating.
1. Trial Balance
- Statement of all ledger balances; debit total should equal credit total.
- Checks arithmetical accuracy — not full accuracy.
- Methods: balance method (common), totals, totals-and-balances.
2. Types of Errors
| Error | Example | Affects TB? |
|---|---|---|
| Omission (complete) | transaction not recorded | no |
| Omission (partial) | posted to one account only | yes |
| Commission | wrong amount / wrong account of the right type | may |
| Principle | capital vs revenue confused | no |
| Compensating | two errors cancel out | no |
3. Rectification
- Before TB: one-sided errors corrected directly in the account.
- After TB: use Suspense A/c for one-sided errors.
- Two-sided errors: journal entry.
Furniture bought, debited to Purchases: Furniture A/c Dr. To Purchases A/c.
4. Key Points
- Suspense account is temporary.
- TB agreement doesn't prove no errors.
- Rectify by cancelling the wrong effect and recording the right one.
- Errors of principle often involve assets vs expenses.
Remember: TB checks totals | 4 errors | suspense account
Trial Balance and Rectification of Errors: questions and notes
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