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P2 C1 Rectification ofErrors — Account STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceAccountP2 C1 Rectification ofErrors2 Marks
Question
What is errors of omission? How to rectify there errors? Explain with illustration.
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Answer

When a transaction is totally omitted to be recorded in the journal or the subsidiarybook or the ledger, such an error is known as an error of omission. The trial balance willtally even though error of omission is committed because posting is omitted on bothcredit and debit side.E.g. Goods of $Rs.5,000$ sold to Dilpesh is unrecorded in the books of accounts. By writingcorrect journal entry for this transaction the above error will be rectified. The followingentry will be passed in journal proper.
Date Particulars L.F. Debit(Rs.) Credit (Rs.)
  Dilpesh A/c. Dr.   $5,000$  
  To sales A/c.     $5,000$
  (Being the rectification of unrecorded credit sales)      

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