Sales to Shyam of Rs. 500 on credit is not recorded in the books would affect the __________.

Shyam's account

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sales account

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sales account and Shyam's account

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cash account

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Solution

The correct option is A sales account and Shyam's account
The given transaction is the case of error of complete omission. This error arises when any transaction is not recorded in the books of original entry at all. It is termed as a two-sided error and such error will not affect the agreement of trial balance but it will affect the sales account and shyam's account because the transaction is altogether omitted from being recorded in the books of accounts.

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Similar questions

Q. Cash sales to Shyam of Rs. 500 not recorded in the books would affect __________.

Credit Sales to A of Rs.600 not recorded in the books would effect:

Credit sales to Mohan Rs. 1,000 were recorded as Rs. 10,000 in the sales book. To rectify the same, the sales account shall be ___

The trial balance of Anuj did not agree. It showed an excess credit of Rs. 6,000. He put the difference to a suspense account. He discovered the following errors.

(a) Cash received from Ravish Rs. 8,000 posted to his account as Rs. 6,000

(b) Return inwards book overcast by Rs. 1,000

(d) Credit purchase from Nanak Rs. 7,000 were recorded in the sales book. However, Nanak's account was correctly credited.

(e) Machinery purchased for Rs. 10,000 was posted to purchase account as Rs. 5,000

Rectify the errors and prepare a suspense account.

Rectify the following errors assuming that suspense account was opened. Ascertain the difference in trial balance.

(a) Credit sales to Mohan Rs. 7000 were recorded in purchase book. However, Mohan's account was correctly debited.

(b) Credit purchase from Rohan Rs. 9000 were recorded in the sales book. However, Rohan's account was correctly credited.

(c) Goods returned to Rakesh Rs. 4000 were recorded in sales return book. However, Rakesh's account was correctly debited.

(d) Goods returned from Mahesh Rs. 1000 were recorded through purchase return book. However, Mahesh's account was correctly credited.

(e) Goods returned to Naresh Rs. 2000 were recorded through purchase book. However, Naresh's account was correctly debited.

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