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Mastering Correction of Accounting Errors

This class was created by Brainscape user Erinne M Perry. Visit their profile to learn more about the creator.

By: Erinne M Perry
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Decks in this class (5)

Section 1 - Where errors occur and how they are found
Annual depreciation was calculate...,
Your companys payment of 350 was ...,
Perryco forgot to recored annual ...
37  cards
Section 2 - The Bank Reconciliation
The companies cash ledger balance...,
If there is a separate cash accou...,
Cash deposits are _____ for the c...
39  cards
Section 3 - Finding and correcting errors using the Unadjusted Trial Balance
If the difference between the tot...,
What are the three trial balances,
To find the errors causing a tria...
30  cards
Section 4 - Correcting Current Period Accrual Errors
If expenses are accrued for 140 i...,
If expenses are accrued for 1 200...,
If a company forgets to accrue an...
38  cards
Section 5 - Correcting Current Period Deferral Errors
What is a deferral error,
An error of deferred revenue take...,
How is a deferral error corrected...
7  cards

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Mastering Correction of Accounting Errors

  • Class purpose General learning

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