I believe that you have downloaded the notes from the app.
Okay, you have the notes available.
I uploaded it on the app last night.
Sir, you said that you will add a line in it.
I did not add that line.
Later on, I felt that it was not such a big deal.
It is not very useful in the future.
Okay, when there will be a double-sided error, then double
entry will be possible.
That's it.
There was nothing to write in it.
It was not fitting anywhere.
Maybe that's why I did not write it before.
Where there is a double-sided error, one double entry will
be possible.
That's it.
Okay.
We have to move forward in the journey of many examples
today.
Come on, let's start quickly.
Example number 2
Now see, as the chapter progresses, your role will become
more important.
Those who come to play a cameo in the climax, your role
will gradually become a cameo.
You will dominate the movie.
I will keep asking, you will keep answering.
You will come to the driver's seat slowly.
Now I am on the driver's seat, I am explaining to you like
this.
Slowly, slowly, slowly, you will take the car ahead.
Credit sales of Rs.
20,000 less 10% TD
Sir, what is this TD?
Trade discount
This is what you say to the shopkeeper.
Brother, put this much.
Brother, this is not so much.
Make it a little less.
Brother, you are giving the equal one.
You will not give any discount.
Let's take it from you.
This is the same.
Trade discount
So in 20,000, remove the trade discount of 10%, i.e. 2000.
So your net sales were 18000.
Your net sales were 18000.
What happened by mistake?
Wrongly recorded
In the sales book
As 20,000
Do you know the difference between trade discount and cash
discount?
Yes, do you know what a trade discount is?
Which is given before making a bill.
Which you bargain with the shopkeeper.
And the shopkeeper himself says that we have already fixed
it for you.
For others, the rate is already 10% off for you.
All that trade discount is going on in bargaining.
Cash discount means when the bill is deducted.
Then you say that we are paying you cash together.
I am also ready to give a loan in the equal one.
But we are giving you cash.
So give us a discount at the time of some cash payment.
That is cash discount.
So I would like to tell you.
The bill that is made.
It is made by removing the trade discount.
The bill will be made at 18000.
Some product is of 20000.
But in that we saw that it is of 20000.
The shopkeeper said, do not worry.
10% off is going on, it is of 18000.
You will get it in 18000.
So how much will he give you by making?
How much will he give you by making that bill?
He will give you a bill of only 18000.
So you too should have recorded the sales of 18000 in your
sales book.
If you think from his angle, from the angle of the
shopkeeper.
Karishma, what are you saying?
Which is for the individual party.
I will tell you once.
In trade discount, cash discount,
There is nothing to do with such an individual party.
Just think from the angle of the shopkeeper.
If he has made the bill of 18000.
So the sales were of 18000.
The sales should be of 18000 in the sales book.
But the accountant was very great.
The accountant said, no.
Let's record for 20000.
He said, I forgot the discount.
I did not remember the discount.
Now tell me.
Something went wrong.
Something went wrong and the whistle was blown.
Now tell me.
Sales increased from 18000 to 2000.
Yes.
When the mistake will reach the Profit and Loss Account.
I am asking a question.
Just before moving forward.
When this mistake will reach the Profit and Loss Account.
So it will increase or decrease your profit by 2000.
Can you think of it?
Tell me.
Let me see in the chat box.
How many smart students are sitting here.
Increase.
Absolutely right answer.
Oh Varsha.
I am forced to take off my glasses on your message.
Will reduce.
Varsha.
There is a sale.
Your friend Karishma is saying.
Varsha, there is a sale.
Look carefully.
Sale means your income.
If you increase the income, the profit will also increase.
Sorry Sir.
No problem.
It happens.
It happens only in India.
Wrongly recorded in sales book as 20000.
Let's do the solution.
Let's start the solution.
Sales book.
S.B.
In this.
Someone must have done the sale.
Take Mr. A.
I had to write 18.
I wrote 20000.
Tell me.
Two accounts will be made from here.
One will be a sales account.
And one Mr. A.
Account will be made.
One last time.
Ask you.
In the sales account.
Will the posting be on the debit side or the credit side?
Then I will believe.
You have no problem in posting.
Tell me one last time.
Varsha is saying.
I had thought of a purchase.
No problem.
Varsha.
It was late at night.
Don't worry.
Take this.
You have a problem.
Sir has not forgiven me yet.
I did not wear my glasses again.
Take this.
I forgive you.
Debit side.
Varsha.
Take this.
Again.
Take this.
You will not let me wear glasses today.
Again.
Debit side.
Varsha.
By Mr. A.
Will come.
By Mr. A.
Will come.
Please think of it.
Entry is.
A.
Account.
Debit to sales account.
Sales account.
Debit to credit account.
Credit side will come.
By Mr A.
Mr A.
Two sales account.
No matter.
Varsha.
Please assume.
Sales account by Mr.
A, Mr.
A has 2 sales 20,000
In sales account CD will come here 2 balance CD 20,000
And in Mr.
A also CD will come here
By balance CD 20,000
Thereafter we will make trial balance from here
Make trial balance once, travel around
Then we come down to our points
Mr. A account and sales account
In sales account credit side will come 20,000
In Mr.
A account debit side will come 20,000
OMG! Once again the same thing happened
What happened sir?
Italy was not able to qualify for the World Cup
Once again the same thing happened at night
Italy lost again for the second time in a row
Italy won't be in the FIFA World Cup
It's a very sad thing sir
It's okay sir, you come on accounts
Once again the same thing happened
Even though there is a mistake
Trial balance is tele
So if I ask you friends
That trial balance is affected or not
So you will be senti and say yes
Or you will say no, it's a match
There is no effect on trial balance
Yes or no?
What would be your answer?
No, very good
Karishma has proved, Varsha has proved
That they have understood
Good Trial balance is not affected
Come on, let's write
I swear by tomorrow, I will remind you every day
You swore sir, we will not move back from writing
So I will not move back from reminding you
Keep writing, keep writing
It is only in this chapter that we write
Otherwise, there is no such compulsion to write
But it is necessary in this chapter
Writing practice
No. A first
Stage of error
At what stage did this mistake happen?
Sir first stage
At the very beginning
At the time of
Preparing Subsidiary book
The mistake was made while making the subsidiary book sale
book
Sir Our time is not going well
There is a mistake in the beginning
As soon as I bow my head, I am crying
Okay Thereafter Tell me in the second point
Error
If you are remembering something from yesterday
So tell me what type of error is this?
I told you yesterday
Absolutely right
Sir this is an error of commission
Very good very good
I told you the meaning of wrong amount
Error of commission
Absolutely right
Error of commission
Wrong amount
Trial balance will be affected will be affected or not.
TB ka matlab trial valence hai.
Bimari wala TB bilkul bhi nahi hai.
Haan par koi bimar nahi hota hai.
Mari class mein sab badiya hai.
Trial valence will be affected or not.
No sir, no.
Trial valence effect nahi hoga.
It will still remain matched. Both debit and credit of
trial valence are still matched in spite of the error they
are in.
Number D.
Ab karenge hum rectification.
Rectification. Rectification.
Let's start.
Rectification mein teen stage hai.
Bilkul theek sir.
Pehli stage sir blue pencil likho hai.
Maini kaha okay aap kaho aur main na maanu aise ho sakta
hai kya.
Before preparation of trial valence.
Sir, doosri stage green pencil likho.
Tum kahte jao.
Chinta mat karo.
After trial valence.
Before financial statement.
Second stage ko na main abhi naam bhi dhunga.
Ek aur naam dhunga.
Second stage ka naam aayega
Sholay ke Thakur sahab.
Abhi aayega.
Thode samay baad aayega.
Aur last mein hai.
After financial statements.
That is next accounting period.
In next accounting period.
Ye teen stage tak pahunchne ke baad galti humein theek
karne hai.
Shuru mein, beech mein aur bilkul last tak agar galti
pahunch chuki ho.
Toh kaise kaise theek karenge.
Ye hum dekhi.
Theek hai sir.
Theek hai.
Chalo. Messages aa rahi hain.
Unwanted. Main isko ek baar ke liye kar deta hu.
Alert alert.
Main phone ko alta rak diya.
Before preparation of trial valence.
Aau ji aau.
Kya yaha par hum checking checking khelte hain.
Varsha ne kaha sir.
Main aapko bhavishya batati hu.
Aap to dheere dheere dheere dheere dheere le jaoge.
Main aapko future abhi batati hu.
Sales to Mr.
A. Bilkul theek.
Varsha ne bilkul theek jawab diya hai.
Very good.
Varsha. Ye jawab bilkul sateek hai aapka.
Bilkul theek.
No problem at all.
But I would like ki hum process ke through hi jaye. Sir
uski wajah. Kuch samay baad.
Hum itna swiftly jawab nahi de paayenge. Agar hum step ko
miss karke aage chalte hain.
Baaki you have practiced already.
To aap chalo thoda de sakte hain.
Koi dikkat wali baat nahi hain.
Yaha par humara ek step hota hai.
Hum dekhte hain double entry possible hai ya nahi.
Aur double entry possible hai ya nahi.
Isko dekhne ka kya tarika bataya tha main aapko.
Iska bhi tarika wahi hai.
Main ne kaha tha double entry kaha possible hogi.
Jaha double sided error hai.
Aur double sided error kaha hai.
Jaha par debit aur credit effect ho rahe hoon with the same
amount in the same direction.
Aao jara dekhte hain humare question mein aisa hai ya nahi.
Dekh lete hain jara ek baar.
Humare question mein kya hua tha sir.
Galti se sales account mein credit hogaya zyada 2000.
To aapne credit ko increase kar diya 2000 se.
Aur sir mystery account mein debit bhi zyada hogaya 2000.
To debit bhi increase hogaya na 2000 se.
To debit aur credit dono hi same direction mein badh rahe
hain 2000 2000 same amount se.
To ye double sided error ban gaya aur double entry hogayi
possible.
Sales mein credit zyada kar rakha hai 2000.
To usse debit karke adjust karo.
Credit ko ghatana hai to debit karo.
Aur mystery account mein debit 2000 zyada kar rakha hai to
usse ghatana ke liye credit karo.
Sales to mystery account 2000 2000.
Short cut.
Sale ki entry kya hoti hai.
Mystery account debit to sale. Wo entry agar zyada kar diya
usse ulta kar do kam karne ke liye.
Sales account debit to mystery 2000 2000.
Cheek hai sir.
Agli entry batao mujhe.
Ab main chahunga second entry aap short cut trick se bataye.
After trial balance before financial statement ab aap short
cut trick se batao.
Ab isme logic mat lagana.
Short cut trick se batana.
Same hogi kya? Same hogi kya? Just tell me.
Yes sir.
Entry jo hai wo same hogi sir.
Kal bataya maine aapko.
Agar first stage par double entry possible hogi hai.
There after double sided error hai to pehli dono stage par
entry jo hai wo same hogi.
Bilkul theek.
Ab lagao na short cut.
Sales account debit to mystery account 2000 2000.
Next accounting period jab galti milegi to ek chota sa hi
difference aayega bas.
Sales ki jaga P&L adjustment ho jayega.
P&L adjustment account debit to mystery account 2000 2000.
Kyuki sales jo hai wo P&L account tak pahuch chuki hogi.
After financial statement ka matlab hi hai ki financial
statement ban gayi.
Sales P&L me pahuch liye usne aapke profit ko badha diya
2000 se.
Ab aap profit ko bhataoge 2000 se to debit karna padega.
P&L account debit to mystery 2000 2000.
Aur adjustment word to aapko pata hi hai kyu aata hai.
Kyuki pichle saal ka error hai.
Now you find it took us just 5 to 7 minutes to complete
this example.
Yesterday it was around 1 hour 15 minutes for one single
example.
In this class only 5 7 8 minutes.
Dekho kitna jaldi change aaya hai.
Kitna change aa gaya jaldi jaldi.
Honey Singh ka gaana hai na.
Kitna change aa gaya tumhare karne ke style mein.
Karne ke time mein bolna chahiye.
Yes sir.
Speed aise hi badegi.
Dheere dheere dheere dheere.
Speed badti jayega.
Chalo. Hanji sir.
Next par aatein.
Chalo. Dheere dheere yatra karayenge aapko saari baaton ki.
Example number 3.
For the month of January 2020.
Dekho aapko ek cheez aur bata deta hu main.
Teen chapters hum log properly karenge.
Aapki date bata deta hu main.
Inventory or depreciation.
Hum log regular mein kar lenge isko.
Around around hum log 15 tarikh tak isko finish kar main.
Teen jo regular chapters hai na aapke.
Thereafter in the next 10 days jo aapke revision waghara
hai wo saari cheezein jo doubt wale chapter hai jinn mein
end mein questions mein issue hai.
5-7 din unpe upar laga lenge.
Theek hai na? Is it comfortable for you? Around 20 lectures
toh lag jayenge bhai teen chapters mein complete.
Depreciation hai, rectification hai, inventory hai.
Is it okay? Baaki aap padde rahiye.
Varsha keh rahe hai yes.
Karishma karenge okay sir.
Theek hai.
Pehle pata hona chahiye na bhi aapko comfortable hona
chahiye na.
Isliye pooch raha hu.
Theek hai.
Baaki padde raho hai na.
Isliye maine aapko kal bola.
Baaki aap padde raho.
Please. Aur accounts mein bhi baaki padde raho.
Ye jo chapters hai.
Jo aapne mereko bheje hai.
Ye bas mere upar chod dijiye.
Ye aap yehi se kar lena.
Inko baatme revise wise mat karna.
Class hi kar lena bas.
Toh aapka kaam chalega.
problem at all.
Theek hai sir ji.
Number three.
For the month of January 2020, total
of credit sales in sales book is Rs.
1,75,000 and wrongly totaled as Rs.
1,85,000. Wrongly
totaled as Rs.
1,85,000. Likho jara.
Iska Hindi anuwad batata hu main aapko.
January maine ki jo bhi sales thi, credit sales.
Aur ek baat bata hoon, sales book mein kebhal credit sales
hi aati hai.
Purchase book mein kebhal udhaar kharida gaya samaan aata
hai.
Aur credit sales book mein kebhal udhaar credit bechi gayi
sales aati hai.
Cash sales aur cash purchases cash book mein jaati hai.
Toh jo bhi humne January maine ke dauran udhaar sales kari,
wo total Rs.
1,75,000 ki thi.
Galti se kya hua, humne sales book ka total
Rs. 1,85,000 laga diya.
Sales book ka total Rs.
1,85,000 laga diya.
My God! Dikhata hu
aapko hua kya. Let me show you. Ye hai sales book. Suppose
humne do bandon se samaan kharida.
Mr. X se aur Mr.
Y se.
Sir ye AXY aur ABCD reh gaye humare jeevan mein.
Kuch different naam le liya karo.
Ye naam lene ki piche wajah ye nahi hai ki AXY, ABCD hume
ratte hua hai.
Ye bolne mein badi jaldi aate hai.
AXY khatab.
Ab kaun itna lamba naam bole socho na.
Mera naam dekho Sandeep, Karishma, Varsha.
Itne lambe lambe naam baar baar samjhate time kaun bolega.
Mr. X aur Mr.
Y bolo aur kaam khatam.
Isliye inko use karte hain.
Mr. X ko humne sale kari.
95,000 95,000 and we sold Mr.
Y for 80,000 so if I see 95,000 and 80,000 their total
should have been 175 but the poor accountant made a mistake
humans make mistakes he wrote 185 in total by mistake sir,
how can he write 175 in total he must have taken more than
he should know how can we tell you our job is not to point
fingers in examples you will get this question that
accountant should know how he made a mistake
CA sir, you just have to correct the accountant's mistake
ok sir from here we will make 3 accounts sales account
Mr. X account and Mr.
Y account sales Mr.
Mr. Y do you know what happens in sales the total of the
sale book is credited in the last example you did not do
this last time you wrote Mr.
A in the sales account there was only one item in the sale
book that's why normally there are more than one item in
the sale book and their total is written in the sale
account if you write the same thing again and again first
write in the sale book Mr.
Mr. Y then write in the sale account
Mr. X Mr.
Y then repetition of the work will be done then what is the
use of doing the same thing again and again that's why from
the sale book write the total in the sales account straight
total by total as per subsidy book 185000 Mr.
Mr. X
Mr. Y
Ok Ok I would like you to start feeling that this time the
mistake is in only one account
Am I right?
There is only a sales account in which there is an error
Y account and X account are absolutely correct
This is correct
Only sales is wrong
Am I right or am I right?
Yes sir, you are right
Varsha has already told that the trial balance will not be
tallied this time
Very good Varsha
It is a one-sided error
The trial balance will not be tallied
Let's see
Sir, where did you get the word one-sided error from?
One-sided error means
The error which is affecting only one account
Till now, there were double-sided errors in two examples
Which errors were there?
There were double-sided errors
Two accounts were affected
This time, only one account is affected
It is a one-sided error
So if we make a trial balance from here
So see
D R C R
And here will come the sales account
Here will come Mr.
X account
And here will come Mr.
Y account
Mr. X is absolutely correct 95 Y is absolutely correct 80
It will come in sales 185 Total of trial balance
Debit came 175 Debit came 185 This is the first time
In two, three, four examples
That our trial balance was mismatched
I remembered Salman Khan's song, sir
Yes, yes
But I can't sing
My voice is not good
If my voice was good
Then I would definitely sing you very good songs in class
But maybe I should start singing
And no one should be seen in the class
That's why I prefer to stay shut
175 and 185
Trial balance is done here
Mismatch Let's go
A lot of things happen for the first time in life, sir
Mismatch is mismatch
We will keep moving forward with courage
We will not give up, sir
We won't lose heart
This should also be said to Italy
Don't lose heart
World Cup will come again
Sir, it seems there is something deep in your mind
You are remembering the same thing again and again
When you get to see such a match
Then this is it
And let me tell you something interesting
It's not a deep thing
I have a deep happiness inside
Because Our favorite team
Now it will leave quietly
Otherwise, it would have been very difficult to win from
Italy
The first stage will come in rectification
Before trial balance
Then after trial balance
Before financial statement
And finally
After financial statement
Now if I write this much, it will work
After financial statement
What to write again and again
In next accounting period
Okay, sir, this will work
Come on, tell me
Is double entry possible or not?
When is double entry possible?
When debit and credit
Same amount
And from the same direction
Are affected
May be due to mistake
But you see
In your example
The mistake was of this type
That in the credit side sales account 10,000 increased
Credit is increasing from 10,000
But no effect on debit
No effect on debit
Is not happening
So did my double entry condition come true?
No sir
Here double entry
Rectification will not be possible
Karishma said exactly right
Sir, there is one-sided error
Yes How can you understand one-sided error?
One-sided error
Either you can understand
That it is only affecting a debit
Or it is affecting credit
Or one-sided error
You can also understand
That it is affecting an account
How can you understand
As you want
Okay sir
Let's go
Sir, what will happen now?
What will happen now?
Double entry is not possible
This time
Double entry is not possible
This time
How are we going to rectify now?
Till now
By debiting one account
By crediting one account
We used to do rectification
Now here
If you also tell me
Sir, there is more credit in the sales account 10,000 So
bring it down
Means debit
Sales account
From 10,000
Sir, write
I will write
You are saying
Sir, debit the sales account
From 10,000
So I did
Debit the sales account
From 10,000
But to complete the double entry
You have to do something with the credit
What will you do with the credit?
What the hell will you credit?
What will you do with the credit?
There is no other account
Which is affected
To do credit
How would you credit?
Anything? One favorite thing
Comes to our mind
Sir Sir, how will the suspense account be?
If we credit it
My God
A lot of students
This thing comes to mind
Why? The chapter is read in this way
Wherever you don't get anything
Put suspense there
This is the feeling
After reading this chapter
Wherever you don't get anything
Put suspense there
No, my brother
We can't put suspense here
We can't put at all
Why? If you have credited the suspense account here
Then you will give birth to the suspense account
You are doing rectification
Why suspense while rectifying?
Rectification means
Now we are correcting the mistake
So now if you have credited the suspense
Then you have brought a new problem
A new problem called suspense
Where did you fix the problem?
And I am telling you this in words
I will prove it logically after a while
That suspense account can never come here
This is just for those people
Who have already fed in their minds
That suspense can come here
Not possible
Because for now you understand
That you are rectifying
You are correcting the mistake
At this time, we can't bring another mistake
Called suspense
Understand this much
After a while, I will prove it technically
That suspense account can't come here technically
You are not at that stage to understand
Okay sir
Varsha says sir
We will correct the account
Yes Varsha
Absolutely right
In such a case
When we don't get two accounts to complete the double entry
Do you know what we do?
We correct only one account
The account in which the mistake is
That account
Go and fix that ledger
Now forget the entry
Entry is not possible
So call the sales ledger
Call him
You don't have to write now
When I say when you have to write
Call the sales ledger
Sales ledger
Come here
Show your face
How are you made?
I am made like this
Now this song is singing
Why am I like this?
We are saying
Don't worry
We will fix it now
Wait a minute
This is made in this way
Total as per sale book 185
To balance CD 185
We have to correct this account
We have to rectify this account.
There is only one person.
Poor guy.
Alone.
He will have to rectify it.
There is no one to support him.
To rectify it through double entry.
He will have to rectify it alone.
My eyes got numb while telling.
No problem, sir.
How will we do it?
Tell me.
How will we do it?
This CD is 185.
We will tell him.
You come here.
Come here.
We have to fix you.
Revive it again.
CD means closing balance.
The closing balance which is increasing at 185.
We will tell him.
You come here again.
We have to adjust you.
You are not good.
You have to improve.
You have to subtract 10,000 from this.
Only then it will be 175.
Yes, sir.
You have to subtract 10,000.
You have to make 185 into 175.
So if I have to reduce the figure from 10,000.
Then I will write on the opposite side.
Should I write 10,000 on the other side of 185?
Or should I write 10,000 below 185?
What does Janata Janardhan say?
Accountant sir, tell me.
If we have to subtract 10,000 from any figure.
In the accounts, we will write the opposite side.
The same side is added to the account.
Varsha said, sir, we will write the debit side.
Karishma said, sir, the opposite side.
Absolutely right.
Well done.
Cool.
Very good.
So air will come out of this 185.
So here comes 10,000.
Now look at 185 minus 10,000.
Now your new CD has come.
175 Sir, it has reached down.
It is entering into someone else's house, sir.
I am explaining now.
Writing is later.
Don't worry.
185, 185
Now it's fine.
Now the CD has come to 175, sir.
Yes, sir.
This is what we wanted.
After all, we got our destination, sir.
This is the work in rectification.
This is the work in life.
You will definitely get the destination.
Slowly slowly slowly
Many times
Many times our time is not right.
Things do not stay in our hands.
No matter how hard you work
No matter how hard you try
How desperately you need it
No matter
If you don't have time
But what is your duty?
Even at that time
Keep working
Keep moving
Your time will come.
Time will come.
If you get used to working even in bad times
Then no one can stop you.
Maybe bad time comes
So that you can learn more good habits
Which in a better time
To take you to new heights
Prepare you.
Right? Okay, sir.
We will definitely work, sir.
We will work more.
Once this goes away
Then no one is going to stop you.
Yes I honestly believe
That no one is going to stop you.
No Now we have written 10,000 here.
185-10 175 8 But what name should I give this 10,000?
It will have to give some name.
Do you know what we will call it?
Whatever you want in your words
To
Wrong Totaling of Sales Book
To Wrong Totaling of Sales Book
You can write in your own words.
There is no problem in this.
You can write in your own words.
Varsha and Karishma have a very deep friendship.
This has been proven today.
Varsha wrote Debit
Karishma wrote Side
Very good
The replies are going together.
Very good
Varsha is saying
Sir, you can also write Error of Totaling.
Yes Of course
I wrote a little in my own words.
Wrong Totaling of Sales Book
You can write
Error of Totaling
You can write
No problem at all Varsha
Completely no problem at all
Okay sir
Okay Now Now see
Do you like to eat?
Tell the truth
First took out the balance
Final Then took it out and said
It was a mistake
This is not the balance
The balance is 175
The reader will say
What is this made?
And in this way
Accounts do not look good
Anyway I told you
Cutting cutting
In the account
In this type
Is not allowed
So you know
What to do
This I have shown you here
Examiner says
ICAI says
Our syllabus says
Dear children
You do not need to do such a long work
That you make CD to BD
Then take air out of it
Then bring 185-10 to 175
You write a simple line
How did you correct the mistake?
We will understand in that much
That the child knows
The child has all the knowledge
We will understand in that much
Our dear children
You just write a simple line
In English
How did you correct the mistake?
I tell you that line
What is that line?
If you agree with me
Then say
Yes sir
Your line is right
Error is corrected
By Debiting sales account
With rupees 10,000
As To wrong totaling of sales book
Do you understand this line?
In sales account
I say again
Error is corrected by
Debiting sales account with 10,000
We have debited the sales account
From 10,000
As As means
By what name
To wrong totaling of sales book
You have to write this line in the paper
And you would find
Maybe In my opinion
You would think
These points are the most difficult
Where you write a line
That the mistake will be corrected in this way
Maybe you think
You enter somewhere
You write a line somewhere
You run the work
You don't know where the entry will be
Where to write the line
We have to answer by writing a line at such a place
Where there is one-sided error
Double entry is not possible
Correcting an account
We write a line there and run the work
Are you okay with this point?
Can I move ahead?
Tell me
Tell me something
Yes sir
Green signal from our side
Please move on
Let's go
So Should I erase this now?
Now tell me one thing
If you want to write it for your reference
Then write it
If you want to write it for your reference
Then write it once
No problem
Write it
Varsha is saying yes sir
We want to write it
Write it
Please write
Then I will rub it and write a line
We don't have to write it in the paper
Finally we have to write that line in the paper
But we should know
How is it coming
We should know it
Write it for reference
If it happens, tell me
Sir, we have written it
Done sir
Varsha has written it out
Karishma is saying done sir
Okay fine
Good
I didn't have space
I will rub it
And we will write that line
Which we have to write in the paper
And take marks from examiner
You will make this account too
Examiner's heart will not melt
Examiner says
Sir, I am not afraid of slap
I am afraid of love
I am not afraid of letters
I am afraid of line
He will give you line marks
You have to write down the line
Error is
Corrected by
Debiting Debiting Sales account with
Rupees 10,000
Debiting Sales account
With Rupees 10,000
With what name
To wrong totaling of
Sales book
To wrong totaling of
Sales book
Just a few words
Yes But to get here
You have to work hard
Words you
You will get only two
But to get there
How much hard work you see
What are the words
The hard work behind the words
It increases your knowledge
That is most important
Please write it down
Sir, we have written
Next
I told you one thing
Sir, then also
Karishma has written
Karishma's message has come
Karishma has written
Your names are
Same Same Next After trial balance
Before financial statements
What is this
First thing
Tick tock
Not at all
First thing
Double sided error
I told you
Double sided error double entry will be possible and
rectification will be same on both the first stages but
here double sided error was not there, here it was one
sided error, here rectification was not possible on the
first stage through double entry, so here the entry of the
second stage will not be the same, the entry of the second
stage will come here something different, now I will
explain this stage to you in more detail, after trial
balance, before financial statement, let's understand
meaning of these four words in more detail, after trial
balance, I repeat ladies and ladies, I repeat, after trial
balance, I repeat ladies and ladies,
I repeat, after trial balance, I repeat, after trial
balance, I repeat, after trial balance,
I have to tell you that what is the meaning of the second
stage, the meaning of after trial balance is that the trial
balance has been made, I will elaborate a little, try to
feel that you are sitting inside a company, you became a CA
very soon, which you will become in the future, I wish all
the very best to you and you joined very good corporates,
where you reached, you started work and somewhere in the
beginning, even if we are CA, a little mistake happens, you
made this mistake, you put the
of the sale book wrong, due to which your trial balance
became such that 175 and 185 different total came of debit
and credit side Yes, Varsha, this is the state of your
trial balance, you tried a lot to match the trial balance,
if there is a mismatch, then you will try to match it,
there was no mismatch above, you did not try, no matter,
you did not have to try, there was no mismatch there, even
if there was a mistake there, it was not visible, the trial
balance was there, why will we try to
it, which is already there, there is a mismatch here, you
tried a lot to match it, because until the trial balance
does not match, I am saying important words, remember,
until then the trading balance sheet cannot be made,
because your balance sheet will not get tallied, if the
trial balance is not tallied, then your balance sheet will
not be tallied, because the trial balance is the balance
sheet, and what is the use of a balance sheet that is not
tallied, it is as good as garbage, what is the
of a balance sheet that is not tallied, so you knew this
thing very well that if this trial balance could not be
tallied, then my balance sheet will not be tallied, you
tried your best, you gave your heart out to match the trial
balance, but you did not make a mistake, sir how is it
possible, we will go back once and see, you will get the
total of this book, it is not such a big mistake, man, this
is a small example to explain, feel it in the practical
word, it will not be such a small mistake,
will be a big mistake, which you will not be able to get,
okay, while making a mistake, it was a big mistake, now you
are calling it small, if it was such a small mistake, what
happened to you, okay sir, you tried your best, but the
trial balance did not match, you also called me, you also
called me, hello sir, we are saying Varsha, we are saying
Karishma, do you remember, you taught us in the foundation,
I said yes, yes, what happened, tell me, you are saying
sir, we are talking from the
you are saying sir, that we came to a corporate like this,
and we both have the same job in the same company, the
package is also very handsome, but we are not able to match
a trial balance, can you help us in any way, I gave you one
answer, I said, teachers don't speak during exam, now you
have become a CA, now you find your mistake yourself, how
rude sir, how rude, now what to do, you will have to do it
for your own good, I refused you, now what will you do, now
your boss comes, the boss of the company tells you, what
happened to the financial statement, the trial balance is
not telling you, when will that financial statement be
made, that CA is taking his life, you are also a CA, an
auditor is different, you are in the job, auditors are
those who are in practice, who sign on
balance sheet, if you go to the job, you will not have the
authority to sign, you will just make a balance sheet and
give it to some other practicing CA, they will audit it and
sign it, okay, so that auditor is taking his life, your
boss is telling you that I am getting calls from the
auditor, that make that balance sheet, I have to sign it by
doing scrutiny, your trial balance is not ready, now you
are stuck in a mess, where to go, this trial balance
is not being tallied, the boss has put pressure from there,
that prepare that financial statement, you have to give it
to the auditor, what should be done, first of all, take a
shot of Disprin, will it work by taking a shot of Disprin,
what will happen with that, nothing, ultimately the trial
balance will have to be tallied, that's what I am saying,
think in real life too, if we are not able to pass, will it
work by giving excuses, it will not work at all, we have to
do it, we have to do it,
one thought, we have to do it, we will do it,
this is true, we have to do it, we have to do it, we have
to do it, we have to do it,
We don't have to do trial balance tally
Here is a difference of 10,000
We have put a difference of 10,000 This is also 185
We have done trial balance tally
Now tell me what will you do to us
You have done trial balance
Tally forcefully
You have done it forcefully
Just because
There is no delay in making
Financial statements
That's why you have
Debited 10,000
You have done it forcefully
Sir, we will give him some name Yes Now you will also be
asked the name
Boss came and asked
Have you done trial balance tally
You said yes Now you are on upper side
He said show me
Now he will not ask
What is 10,000 You can't escape from boss
You told him We are doing trial balance tally forcefully
We ourselves don't know
What is the difference of 10,000
But once our balance sheet will be made
It will be tallied
Then the auditor will see
Now what to do
There should be no delay in that At least the preparation
of financial statements should go ahead
Ok So now
Boss is saying We understood your helplessness
You will get the mistake later
But give some name to this 10,000 He gave a beautiful name
Suspense account
From the name itself we can understand The creator himself
doesn't know
What is 10,000 He himself is in suspense
Why is 10,000 debited
The creator
Himself or herself doesn't know
What is 10,000 He put it in suspense
This is suspense account
And after all the efforts
You are unable To find out the error
And tally your trial balance
You forcefully open this account
Just because
There is no delay in the preparation of financial statements
We call it Suspense account
That is called Suspense account
And when this suspense account
Will open
Only then you can use it in rectification
When it was not open before
In the last example
So how will you use it in rectification
I will explain this a little
Friends Now you have put 10,000 in suspense And you said
No matter how it was tallied
Now we can move forward
After tallying the trial balance
You move forward Towards the financial statement
Trading P&L balance sheet
But your luck Was very good
Your luck was good
Before making the financial statement
Error was detected Means what happened
Have you ever played cricket
Have you ever played cricket with friends Although there
are more females in our batch
So maybe there is no connection with cricket
I will tell you
What happens
Someone shot
The fielder went in front to find The ball
Everyone tried
One more person came
Now the batsman himself reaches
Says I have to play the next ball
I will go and find
And as soon as he reaches
Before he reaches He gets the ball
Those who are already looking there
This is a fact
If you are a brother, ask them, is it true what sir told
you, is it a fact, is it true?
Okay? Exactly the same thing happened here.
You did this to make a just financial statement and before
making it, you got a suspense account.
It was a piece of cake.
Karishma is saying, yes sir, we know.
Let's go Karishma, good.
Good.
There should be interest in sports.
No matter what your gender is, you should be interested in
sports.
It's good for the body, at least.
Right? Yes.
Suspense is debiting 10,000.
You made a mistake.
You took the support of suspense.
Now Varsha may remember the dialogue from before.
You took the support of suspense to debit and match the
10,000 trial balance.
Until you don't make a mistake, until then suspense babu,
you get debited.
You get debited from 10,000 suspense.
Until we don't make a mistake, we will be grateful to you.
Suspense said, okay, I will get debited now.
When you make a mistake, credit me and finish it.
So when you have made a mistake, what is the use of
suspense now?
You sing a song with me.
When suspense came, he came to help us.
It was very good that suspense was debited, but now there
is no need for that.
He is going.
It is getting credited and ending.
Which song is this, sir?
Sing a song.
Suspense, suspense, no more.
10,000, credit the suspense.
Suspense was debited 10,000.
Made a mistake.
By crediting, you also finished it.
By crediting, you finished it.
Now there is no need for it.
Now you know what it means to make a mistake.
What is the meaning of error detected?
What does it mean that you know?
That you made the sales account more than 10,000 credits.
Now you will debit the sales account.
And instead of sales, you had debited suspense.
Until you didn't know.
That's why you will end the suspense by crediting.
Now you will tell suspense, you go.
You are credit, you go.
We know who to debit.
Now we have to debit sales.
Suspense has to be debited until.
When you don't know.
Who is the right person to replace it?
Sales account debit to suspense account.
Suspense will come here.
Now see what happened.
We had debited suspense in the trial balance.
And finished it by crediting here.
What happened after rectification?
Suspense was finished again.
Suspense was final.
What was the problem in the above example?
There was no suspense in the trial balance above.
If you had created it here.
In the second entry, here at the second stage.
Suspense would have been born.
While at the time of rectification.
Suspense should be over.
Then what is rectification?
When you have opened suspense.
To force the trial balance to be tallied.
Only then.
Suspense account.
Can be used in rectification.
Otherwise suspense account.
Can not be used in rectification.
When you have opened it.
Only then you can use it in rectification.
You can finish it.
If you don't open it.
And in rectification.
If you credit somewhere.
Then it will be over by mistake.
There is no need for suspense.
Balance will be left in suspense.
If you use it in direct rectification.
Its balance should not be left.
After rectification.
Suspense should be zero.
Do you understand?
Varsha is saying.
Sir you.
Don't sing.
Otherwise we are going.
Okay, today's songs are over.
I will not sing today.
Sure sure.
Karishma Varsha.
Do you understand?
Yes sir.
Sure.
You should feel.
At the bottom of your heart.
That the use of suspense.
Will come in rectification.
When we opened it.
In the first trial balance.
Otherwise it cannot come.
Write below.
Lesson.
What lesson do we get from this example?
Write a little.
Suspense account.
Can be used.
For rectification.
Only if.
It was.
Opened in trial balance.
Only if.
It was opened in.
Trial balance.
Get it.
Tell it.
If the suspense was opened to tell the trial balance.
Only then it can be used in rectification.
Otherwise it cannot be used in rectification.
You write this thing.
Please.
Please write this thing.
Take this.
Now you can write in your language.
Write learning.
Or write point.
Write anything moral.
Moral will not look good anyway.
There is no story.
Write lesson.
Write anything.
Learn.
Write conclusion.
Okay sir.
Will write.
Okay.
Take this.
Now comes a shortcut.
What is the shortcut?
When one-sided error will happen.
Listen carefully.
Today's class.
The most expensive line is coming.
The most important line of today's lecture so far.
Karishma is saying.
Wrote a note.
Yes.
Note and write.
Yes.
Of course.
Write in the name of note.
No problem.
Note.
Yes.
The most expensive line is coming.
If one-sided error.
One-sided error.
As in this example.
So.
The rectification of the first stage.
Will not happen by double entry.
Absolutely right sir.
You will have to write a line for it.
And.
From there.
The second stage rectification will be made.
How sir?
How? Read in the first line.
What was written?
Error is corrected by.
Debiting sales account with 10,000.
Debiting sales account with 10,000 is written above.
Debit the sale account quietly.
From 10,000.
And credit suspense.
Close your eyes.
From 10,000.
This is the shortcut.
Which account is debiting in the line above.
See that.
Credit suspense.
Sir.
If it was written in the line above.
Crediting sales account.
So credit the sale account.
Debit the suspense.
The account above.
Debit or credit.
Write it below.
Debit or credit below.
And the rest.
Complete the entry with suspense.
This is the shortcut.
In the case of one-sided error.
Look at the first stage.
What is written in the line?
In that.
Which account is debiting or crediting.
Debit or credit it on the second stage.
Debit or credit.
And complete the double entry with suspense.
The work is over.
In one-sided error.
Double entry is not possible on the first stage.
But double entry becomes possible on the second stage.
Because the use of the suspense account comes.
Because of that.
Why didn't you take suspense on the first stage, sir?
Until then, the suspense was not open.
Before trial balance, the mistake was found.
The mistake did not reach the trial balance.
So neither the suspense was open.
Nor in rectification.
I will take its support.
But after trial balance means.
Suspense account was opened in trial balance.
That's why this time in rectification.
I will take the help of suspense.
Which is not there.
From where will you take the help of it?
But what is there.
You can take the help of it.
For rectification.
This is the shortcut.
Sir, write this too.
I will make you write notes of examples separately.
Then you will know.
From where is which link?
If it is a one-sided error.
My dear friends.
For rectification.
At second stage.
For rectification.
At second stage.
Comma.
Just copy.
From.
Above stage.
Just copy from above stage.
And use.
Suspense account.
To complete double entry.
What is to be copied from above?
Which account is of debit or credit?
That's it.
To complete double entry.
And use suspense account.
To complete double entry.
Sir, this should also be in layman language.
We are layman.
If we don't understand something.
Then we are layman in that.
Suppose I don't know any formula of science.
Then I am layman in that.
What is there to say in this?
So if we learn it in layman language.
Then only we can understand it in technical language.
Learning language directly technically is wrong.
Okay sir.
Please note it down.
Note number two.
Write and tell that it is done.
I am waiting for you.
If you don't understand, ask me. Done, sir. Done. Good,
good, good.
Karishma is done. Mr. Varsha? Done, sir. Done, done, done,
done, done, done. Cool, cool, cool.
What will be the financial statement? Nothing.
Instead of sales, just P&L adjustment will come, you
already know.
P&L adjustment account debit to suspense account.
That's it. You have to finish suspense.
Once you open it, you have to finish it with credit.
Whether it is the second stage or the third stage.
Instead of sales, P&L adjustment will come. You know this
very well.
P&L adjustment account debit to sales account.
Are you feeling like, to understand the entry of the third
stage, the second stage should come.
And to understand the rectification of the second stage, a
little bit of information about the first stage should also
be there.
This is interlinked. These are interlinked.
Now tell me, if I leave everything and bring you directly
to the third stage, then you would feel what is going on.
How would you know how the suspense account came here?
Yes, there are artists who will explain it to you.
But I don't feel that it is understood so well at that time.
Now you have seen the process.
Now you don't care if I ask you the third, second, first.
But it was necessary to do this journey once.
Okay, sir.
Write it out.
Sir, we have written it.
Okay, sir.
This was our example number four for today.
Sir, is there any other example that can be done a little
faster?
Yes, let's do it. Come on.
Let's do it. Let's do one more.
Okay.
One hour and fifteen minutes, ten minutes left.
One hour and five minutes have passed.
Let's do one more example.
Please give me some time.
Thank you.
I will give it some other name in the next batch.
Example looks a bit boring.
We will give it a nice name with a trick.
Purchases Made from
Mr. A
Rupees 8000
Entered in Purchase Book
Pb means Purchase Book
On A's name
But wrongly posted to B's account
Purchases Made from Mr.
A 8000 Entered in Purchase Book
On A's name
But wrongly posted to B's account
Purchases Made from Mr.
A 8000 Entered in Purchase Book
On A's name
But wrongly posted to B's account
Purchases Made from Mr.
A 8000 Entered in Purchase Book
On A's name
But wrongly posted to B's account
Purchases Made from Mr.
A 8000 Entered in Purchase Book
On A's name
But wrongly posted to B's account
Purchases Made from Mr.
A 8000 Entered in Purchase Book
On A's name
But wrongly posted to B's account
Purchases Made from Mr.
A 8000 Entered in Purchase Book
On A's name
But wrongly posted to B's account
Purchases Made from Mr.
A 8000 Entered in Purchase Book
On A's name
But wrongly posted to B's account
Purchases Made from Mr.
A 8000 Entered in Purchase Book
Purchases Made from Mr.
A 8000 Entered in Purchase Book
Wrongly posted to B's account
Purchases Made from Mr.
B 8000 Entered in Purchase Book
Wrongly posted to B's account
Purchases Made from Mr.
B 8000 Entered in Purchase Book
If you write 8000 on the credit side of the CD, it's a
telly.
Ms. Varsha...
Where did it go?
Ms. Varsha, look at this.
What the f**k is this?
The 8000 that was supposed to be credited to Mr.
A, is now credited to Mr.
But the balance of the trial balance will remain the same.
If the name changes, the debit or credit won't change.
Instead of crediting 8000 to Mr.
A, you credited 8000 to Mr.
So, the trial balance has become a telly.
The trial balance has become a telly.
Okay.
Let's go.
Let's write our conversation down.
Let's write down.
Number 1.
Tell me the stage of error.
Please tell me.
Stage of error.
Sir, this was a mistake after the posting.
The subsidiary book was correct this time.
It was a mistake when we posted it in the ledger.
At the time of ledger posting.
What type of error is this?
I don't know if you'll like it or not.
But this is also called error of commission.
Sir, you told me that if the amount is wrong, it is called
error of commission.
Today, I'll tell you one more thing.
If the account is wrong, it is still called error of
commission.
You said that you bought the goods from Mr. B.
You committed that you have purchased from Mr. B.
When you bought from Mr. A.
You have committed wrong.
Wrong person.
That's why it will be called error of commission.
Absolutely right.
Karishma is a posting error.
Varsha is absolutely right.
Error of commission.
Wrong account.
Wrong amount.
Two have now come in the error of commission.
They will go together.
Remember.
Number 3.
Trial balance.
There is still a tally.
There is no effect on this.
There is still a tally.
This is not affected.
Fourth stage.
Tell me rectification.
On the fourth stage.
Come on rectification.
First stage.
Before trial balance.
Here we will check.
Is double entry possible or not?
A rule has been told for it.
If debit and credit are being affected.
In the same direction.
Either both are increasing.
Or both are decreasing.
With the same amount.
Then double entry will be possible.
And.
Get ready to learn a new rule.
What was happening in our example?
In our example, sir.
In Mr. A's account.
The credit side was reduced by 10,000.
Okay.
Yes.
We had to write credit.
We did not purchase.
And in Mr. B's account.
Credit side.
Not 10,000.
8000.
Sorry.
8000.
And in Mr. B's account.
We increased the credit side by 8000.
In such a case.
Trial balance is tallied.
And in such a case.
Double entry becomes possible.
So what learning do we get from here? Write a note.
From this example.
We got a new learning.
What to learn? Either debit.
Or credit.
In the same direction.
Either both are increasing.
Or both are decreasing.
With the same amount.
You are getting affected.
Even then.
Trial balance will be tallied.
And on the first stage.
Through double entry.
Rectification will be possible.
Will be possible.
Or.
Only credit.
Increasing once.
And decreasing once.
But with the same amount.
Even then.
Trial balance will be tallied.
And on the first stage.
Through double entry.
Rectification will be possible.
And I can also say this.
Instead of credit.
If debit is decreasing.
And increasing.
Then.
You are getting affected.
With the same amount.
But with the same amount.
You are getting affected. same amount still the same
situation still the same situation try to feel how fine
these things are how fine these things are
I want you to feel them, yes yes yes absolutely right,
Varsha is saying these are two sided errors, yes the
definition of two sided error has become a little long now
the definition of two sided error has become a little long
till now we only knew that two sided errors are those
double sided errors are those which affect debit and credit
in the same direction with the same amount now we have also
learnt that even if credit is once down in the opposite
direction with the same amount or even if
debit is affecting in the opposite direction with the same
amount even in that double entry will be possible the
definition of double sided error has become a little long
write with me therefore
definition of definition of double sided error is widened
so now double entry is possible, so how is it possible? you
are saying double entry is possible so it is very simple
the account in which you did not credit, Mr.
A now credit him and convince Mr.
Mr. A Mr.
A agree agree he is saying credit me then I will agree we
have credited and we are saying Mr.
B you are sitting with a forced credit you are sitting with
a forced credit debit over, go from here
Mr. B account debit 8000 have you seen Raju Chacha movie?
if not then I will tell you real Raju Chacha has come now
fake Raju Chacha is not needed go from here so Mr.
B said you go fake Raju Chacha
Mr. A real Raju Chacha has come this is what happens in
movies after trivalence before financial statement there
was no suspense double sided error you know very well
double sided error rectification of first two stage is same
Mr. B to Mr.
A account 8000 8000 very interesting this time third stage
rectification will be same
Mr. B account debit to Mr.
A account 8000 8000 because neither Mr.
B nor Mr.
A there is no account which will go to trading or P&L and
will tease profit this was not income or expense account
they do not fit in profit so they do not need to correct
through profit and loss adjustment only income and expenses
if there is any mistake in accounts they correct through
P&L adjustment account they do not need to correct through
P&L
Mr. B to Mr.
A on all three stages rectification will be same so take
out your notes
I have available
I can show on app give me a second how will I show there is
a note written if there is double sided error and error has
not affected any income or expense account which is this
example double sided error was there in this error has
affected Mr.
B and Mr.
A neither there is income account nor expense account so in
this case rectification of all three stages will be same
note is written read it note is written at last which I did
yesterday yesterday I read it by mistake then I said no
today I have to read that one ok ok sir now you breathe
it's been one hour and twenty minutes it takes a lot of
energy and it's not just a matter of speaking it's light it
eats the whole life seven points yes seventh point read it
yes