November 2003
Intermediate to advanced
186 pages
2h 50m
English
Content preview from Accounting DemystifiedBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Finding Errors
Let's assume that the total debits do not equal the total credits. We will use the trial balance in Figure 3-7 to illustrate the techniques in finding errors. The first step is to find the difference. Let's say our mistake was to list the Notes payable as 56,000 instead of 65,000. Therefore, the balance in the debit column would still be 550,500; however, the credits would total 541,500. The difference between the two columns is 9,000 (550,500 − 541,500). The second step is to take the difference and divide it by 9. If the result is an integer (no remainder), the error could be a transposition error. A transposition error occurs when you flip two adjacent numbers. Our difference is 9,000, so when we divide by 9, we get 1,000. Since ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.