Accounting · Rectification of Errors
A bank branch discovers during its internal audit that a cheque for 75,000 received from a borrower for loan repayment was correctly debited to the bank account but was not posted to the borrower's loan ledger. At the same time, the branch paid 5,000 for office repairs which was correctly recorded in the cash book but was posted to the repairs account as 500. How will these errors affect the agreement of the trial balance?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The trial balance will disagree by 75,000.
- 2The trial balance will agree because the bank and cash entries are correct.
- 3The trial balance will disagree by 79,500 with the debit side being heavier.✓
- 4The trial balance will disagree by 70,500 with the debit side being heavier.
Correct answer
The trial balance will disagree by 79,500 with the debit side being heavier.
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