Accounting 0452 · IGCSE · Correction of errors

Correction of errors — practice question

A trader drew up their trial balance, and the debit column total was $45000 while the credit column total came to $40000. The errors below were later found. 1. The balance on the discount received account of $500 had been entered in the debit column of the trial balance. 2. The balance on the returns outwards account of $250 had not been included in the trial balance. 3. The debit column of the trial balance had been overcast by $3750. After all the errors were corrected, the trial balance totals matched. What were the trial balance totals after the correction of errors?

  • A$40500
  • B$40750
  • C$41000
  • D$44500

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI