I think I am doing it wrong, so please forgive me later.
I welcome you all.
Today, we will take the chapter of rectification further.
Compensating Error is the only type of error that we have
pending to cover.
First of all, we will cover it and finish it.
Then, let's talk about one more thing.
We will try to go to the advanced level as I have told you.
One more thing I have told you.
Just my notes will be in this chapter.
In that, RTP, MTP, past year questions, scanner, your
site's study material, practical, illustration, true false,
etc.
Everything will be covered.
Everything would be covered.
Whatever is available.
Everything would be covered.
Whatever is available.
Just notes will keep running.
Keep focus on them.
The flash on the screen, I left you from here yesterday.
I told you that in error of commission, wrong amount, wrong
account and wrong site.
There are three types.
In error of omission, partial and complete.
There can be two.
There were only two examples in principal error.
I bought the asset.
I debited the purchase instead of it.
I debited the asset instead of repair.
Remember these two examples.
Last but not least.
We are going to understand compensating error today.
Okay.
Let's start.
Varsha is saying that there are very good chapters.
Varsha, which one to tell me?
You are saying NPO and partnership.
NPO and partnership.
There are very good chapters.
NPO and partnership.
There are very good chapters.
Yes.
I honestly say.
You are studying partnership from 12th.
It is the same level.
If one or two questions come tough.
You feel that this is CA.
It is very difficult.
There is nothing.
Same to same.
You have studied NPO in 12th.
It is okay.
You have not understood a little.
Varsha, yes.
Do you know what is the problem in NPO?
If a student starts making direct accounts in NPO.
Subscription account.
Receipt payment.
Income expenditure.
The box has to be round.
Varsha remembers in 7 steps.
Let's do some discussion.
Let's talk about NPO and other chapters.
Let's talk about rectification.
Let's discuss these points.
Let's go, let's go, let's go, we have to reach at the very
end.
12, 13, 14, 15, 16, 17, 18, 19, 20
New page has come in front of us, page number 20.
Okay, example.
I have given the number, you will write it yourself.
This is going to be at your end only.
Goods are purchased on credit.
We got tired of buying things on credit.
But during this time, we understood the whole chapter.
From Messrs, Sourav and Company.
Listen to the name carefully.
If you have heard the commentary, when the hitter of West
Indies hit four sixes and won, the commentator said,
remember the name.
Carlos Brathwaite.
In the same way, I am telling you, remember the name.
Sourav and Company.
We bought goods worth 10,000 from him.
And Sourav's younger brother was Gaurav.
We bought goods from Sourav's shop and left.
So Gaurav said, you brought goods from our brother and did
not even come to us.
We also have a shop, come and visit us.
We also have some goods, don't do this.
Means our brother is more dear to you and we are the same.
Now, Gaurav also forced a little.
So we said, let's buy from Gaurav too.
We also bought goods worth 1000 from Gaurav and Company.
After this, we made a purchase book.
Now sir, why do you say we?
We don't make mistakes.
Take someone else's name.
We don't make mistakes.
Okay fine.
Someone else.
An anonymous person made a purchase book.
And he put 1000 in Sourav and Company.
And put 10,000 in Gaurav and Company.
He was very confused about the name.
He thought, Sourav, Gaurav, Gaurav, Sourav.
What is this name?
Let me do one thing.
I wrote 1000 in Sourav and 10,000 in Gaurav.
It will be seen.
He did not understand what is in which.
By mistake, it was a mistake.
What is the dialogue?
By mistake, it was a mistake.
Yes, she hits a crazy girl.
A crazy girl comes in Tarak Mehta's reverse glasses.
She hits the dialogue.
By mistake, it was a mistake.
1000 and 10,000.
Okay.
From here on, you will make accounts.
Purchase account.
Sourav and Company account.
Gaurav and Company account.
By the way, friends, will you tell me one thing?
Friends, tell me one thing.
Varsha said, sir, I have talked to you.
What is this?
Trial will be tele.
I know so much.
I have reached there.
Rest you see.
Let me rest for a while.
Varsha is fine.
You rest.
No problem at all.
But if it was made properly.
If this purchase book was made properly.
Put 10 in Sourav.
Put 1000 in Gaurav.
Still, only 11,000 would have come.
I mean, the total of the purchase book is fine.
Just the name is up and down.
So when we put it in the purchase account from here.
Total as per purchase book.
So that will only come 11.
Yes.
If there is one above and one below.
Or there is one above and one below.
The total is 11.
Now in the purchase account, the total is written.
So there is no problem in this.
Its CD also came 11.
This is fine.
Just that Sourav and Company.
It should have come 10,000.
But the sad thing is that it will come only 1000.
And its CD will also remain 1000.
1000.
I have written 1K.
1000.
And Gaurav and Company should have come.
Only 1000.
But it will come 10K.
10,000.
By the way, tell me one thing.
In all this game.
Who will laugh?
And who will cry?
For whom is this mistake a good thing?
And for whom is this bad thing proving?
Tell me.
I want to see once.
Can you tell?
One of Sourav and Gaurav will laugh.
And one will cry.
Varsha is saying.
Sir, Gaurav will cry.
Varsha.
Why will Gaurav cry?
Sourav will cry.
Ask why?
We.
Did not buy 10,000 from Gaurav.
We bought 1,000 things.
And we are saying in our books.
That Gaurav will give you 10,000 rupees.
Oh, tell me.
What kind of man are we?
We bought 1,000 things from Gaurav.
And we are saying in the books.
Gaurav and Company.
10,000 dues on your name.
He is a creditor.
Yes.
Gaurav will dance.
Gaurav will not cry.
Gaurav will dance.
Sourav will cry.
He will say.
We bought 10,000 things.
And in their accounts.
Only 1,000 in my name.
He will see these accounts.
Sourav will cry.
And he will say.
What have they done?
That's why.
Sourav's tears have to reach.
And Gaurav's.
The teeth that are visible.
The laughter.
That has to be closed.
Gaurav's laughter has to be closed.
Sourav's tears have to reach.
Okay? Okay, sir.
Yes.
Karishma is absolutely right.
Absolutely right.
Now we will see the trial.
See yours first.
Wipe the tears of others later.
See your trial balance.
If the same thing is not happening.
You will have to cry first.
Purchase will come in the account.
Debit side 11,000.
In Sourav and Company.
Credit side 1000.
And in Gaurav and Company.
Credit side 10,000.
Great.
This is a tally.
Yes.
What would have happened if it was right?
Sir.
You tell us the right one in red.
Take this.
If it was right.
There would have been 10 instead of 1 here.
And if there was 1 instead of 10.
Then also it would have been a tally.
Just up and down.
The amount is the same.
So the trial balance is being tallied.
Congratulations friends.
Do a virtual handshake with me.
Do a virtual handshake quickly.
Congratulations.
Yes.
Congratulations.
The trial balance is being tallied.
Half of the headache is over.
As soon as this trial balance is tallied.
Worries of the mind become a little less.
Let's go.
Number 1.
Stage of error.
Sir.
This is at the time of preparing.
Purchase book.
It is the mistake of the subsidiary book.
At the time of preparing.
Subsidiary book.
Type of error, Varsha and Karishma, I will call you VK in
short form, VK, tell me, type of error, let me see, no, no,
not Virat Kohli, VK means Varsha and Karishma, Varsha said
error of commission, Karishma also said error of
commission, right, wrong amount, yes, so this is error of
commission, sir, you have not won yet, right, you have not
won yet, by error of commission, brother, you have won, you
have won, you have won, that is why I wrote COM and left
it, this is not error of commission,
is compensating error, compensating error, sir, see, sir,
you decide, sir, you had told us earlier, wrong amount will
be there, wrong account will be there, so error of
commission will be there, then yesterday you told us, sir,
that if purchase comes in place of machinery, then take
principal error, and if machinery comes in place of repair,
then these two principal errors will be there, and today
again it is a matter of wrong amount, and today again you
are saying compensating error, what
I do, what should I do, these principal and compensating
errors have come out of error and compensating error, if
your error of commission is of this type, that there are
two mistakes in it, that there are two mistakes in it,
which ones, one is a mistake in Saurav and company and one
is a mistake in Gaurav and company, and that mistake is of
this type that there are two errors, but both the errors
have set off each other, and after setting off both the
errors, the trial balance is still being
so in this case, it will become a compensating error, all
the examples of error of commission you have seen so far,
there was only one mistake in them, either the site was
changed in the purchase account, the amount went up and
down in the purchase account, or the amount was written
wrong in the purchase book, due to which two accounts are
being affected, that is a different thing, there are two
mistakes here, you see, there is a mistake here and there
is a mistake here too, two mistakes have
made and those mistakes have been set off in such a way
that if 9000 is reduced in one, then it is increased in the
other, and the trial balance is being tallied despite two
mistakes, what have you seen so far, the trial balance can
be tallied
, here I am saying that even though there are two mistakes,
the trial balance is being tallied, such an error is called
a compensating error, such an error is called a
compensating error, my dear friends, compensating means to
set off, by doing it together, the matter is fixed, that is
called compensating error, just type it and send it to me,
by doing it together, the matter is fixed, remember, if you
can't type it, then it's okay, there is no word in our
keyboard, okay, no matter, okay,
in simple words, I repeat in one line again, where there
are two mistakes and those two mistakes are being set off
together and the trial balance is being tallied, there is
no problem in the trial balance, so it will become a
compensating error, you have seen so far, despite the
mistake, the trial balance was being tallied, but there was
only one mistake, such a type will be called an error of
commission, where even though there are two mistakes, the
trial balance is being tallied, that will be
a compensating error, okay, did you understand what I said
or should I say something else to compensate, did you
understand the chat box is empty, run the chat box, message
in the chat box, quickly, quickly, quickly, quickly,
quickly,
yes, sir, yes, sir, from Karishma, sir, we will remember
this line, let's meet, I have complete sympathy with you,
which is stuck in your heart, that man is similar to
similar, why is he like this, I also feel that trouble, but
what to do if they are similar, whatever difference they
have, they have to understand and move forward, we have to
cooperate with ourselves, yes sir, so this is a very thin
line, the line of differentiation is very fine,
I agree, but if you focus on what I am saying, then the
same thing is repeated in the mind again and again, then
that line will become big and you will start seeing the
difference clearly, okay sir, we would try, what will
happen to the trial balance, now what will happen to the
trial balance, the trial balance will remain tallied, will
remain tallied, the trial balance will remain tallied,
despite the mistake, by the way, tell me one thing, your
ma'am used to ask in the eleventh class, you
a small child, you did not even know the name of Instagram,
then you used to study in the eleventh class, your ma'am
used to teach a chapter called trial balance, in that
chapter, a line used to come, a true false was also made, a
short answer type question was also made, that can the
trial balance detect all mistakes, if you want to answer it
today, will you give yes or no, can the trial balance catch
all types of mistakes, you see if it is able to catch all
the mistakes, no sir, the trial
is being tallied in many places despite the mistake, it
cannot catch all the mistakes, the trial balance can
provide you reasonable assurance, sir, what is this, you
will come to the audit, you will read in the interim, one
is reasonable assurance, one is absolute assurance,
absolute assurance means 100% guarantee, reasonable
assurance means somewhere around 90-95% guarantee of
anything, so the auditors, the CA's, like you and me, when
we sign the financial statements, we audit it, so we give
assurance that yes, the data that was available with us, we
checked it and it looks like 90-95% that yes, everything is
fine, we do not say that absolute assurance is 100%
guarantee, we do not use such words, so the trial balance
also has the same story, the trial balance says that
whatever accounting has been done so far, from journal to
ledger to me, I can give 90-95% assurance that yes, it must
have been fine, if I am being tallied, but yes, despite
being tallied, there can be a 5-7% flaw,
I cannot detect all types of errors, this is the compulsion
of the trial balance, it is fine, if you take the matter to
the depths of the heart, it will feel very good, the trial
balance will tell you, come to rectification, let's come on
rectification now, the first stage is before preparation of
trial balance, is double entry possible, double entry,
double entry, play and tell me, will double entry be
possible, will it be, will it be, quickly, quickly,
quickly, tick tick 1, tick tick 2, tick
3, yes, Varsha said, sir, double entry will be possible,
Karishma also said, sir, double entry will be possible, for
this, you see what we did,
we reduced the credit in one account and increased the
credit in the other account from 9000,
I taught you this in yesterday's class, that if only the
credit is decreasing and increasing with the same amount,
then it is also a double-sided error, double entry will be
possible,
can I double entry, can I double entry, no,
Varsha's answer came, sir, Saurabh to Gaurav, absolutely
right, Saurabh to Gaurav,
Varsha, you are mistaken again, and Karishma also wrote
yes, Karishma is saying,
Varsha, do you want to kill Saurabh, tell me correctly, do
you have any problem with Saurabh, sir, why, that poor
thing, you have already credited from 1000, you had to do
it from 10, now you make him debit more than 9000, I mean,
do you know what is happening, Saurabh will give you the
goods of 10000 and he will give you 8000 rupees along with
it, take this, I am giving the money too, my god, this will
be a blunder, right, sir, sorry, sorry, Gaurav to Saurabh
will come, absolutely right, sir,
said yes for double entry, Karishma is saying, sir, I said
yes for double entry, okay, Karishma, forgive you, Varsha,
try to feel, see you have credited 10,000 in Gaurav, 9000
is more credit, if you want to reduce it, you will debit,
Varsha is saying, sir, the rest is fine, I have a problem
with the concept, I am also confused in the name, right, so
what is the fault of that accountant,
Saurav, Gaurav
You don't have anyone in your house
Tell people not to write Gaurav, Saurav
Then it becomes difficult for me to read the notifications
Okay Let me see what the entry is
I will have to check
Gaurav to Saurav
Gaurav and company account
Debit
Saurav and company account
And the funny thing is
If double entry is possible
Then this will be the entry on the second stage
This will be the entry on the second stage
Gaurav to Saurav
Will this be the entry on the third stage?
Today's most important question
Till now
Will this be the entry on the third stage?
Yes Will this be the entry on the third stage?
Because Neither Gaurav nor Saurav
There is no income or expense account
This is a personal account
Not a nominal account
Gaurav and Saurav are names
This is a personal account
Gaurav to Saurav 9000 Rectification on all three stages
Exactly the same
Karishma says
Neither income nor expense
Exactly right
Varsha said
Same entry
Superb
Let's go
Keep walking
Don't stop
This is the last point
Compensating Error Compensating This is also done
End Sir, what have you written?
Therefore, the general loot debt error
Affecting two accounts with equal amounts
Can always be corrected by a double entry
Is not always valid
Will see
No big things are left
I strongly believe 90% 90% 90% 90% 90% 90% 90% 90% 90% 90%
90% 90% 90% Is Third I said
Fourth Third Fourth Fourth Yes Fourth Four classes
I covered the concepts
Completed I'm telling you
I have to leave you here
Even then, if you get 10 marks in an exam, you can take 6
or 7 marks out of it.
You can study the things that you have studied so far.
But, it should not be 6 or 7.
I will teach you 6 or 7 out of 10.
You will remember 4 or 5 out of them.
You will write 2 or 3 in the paper.
You will get 1 mark.
What is the use of that?
When I will prepare you for 10 out of 10, you will work
hard on it.
You will revise it well.
Then, you will get 9 or 10 marks in the exam.
Okay? Okay, sir.
Now, we have to practice more.
We have to furnish it.
Karishma said, Yes, sir. We are ready.
We are ready to work hard in the future.
Let's go then.
You have to work hard in the future.
Let me give you an example.
This time, I want you to participate more.
Now, I am reserving my energy.
Okay? Now, I am going to speak slowly.
I am going to write.
And, I will ask you more questions.
Okay? Yes, sir.
We are ready.
So, fasten your seat belt.
And, be ready.
Yes, sir.
Keep your feet firm.
See how much strength you have.
Yes, sir. We are ready.
Don't worry.
You are talking about yourself.
We are ready for IIA.
Indian Institute of Accounting.
We have seen many goons in this area.
Isn't it?
Karishma said, Yes. We are ready.
Can I tell you something?
Even a CA's hair cannot belong to that department.
Even if there are four more like this.
Now, in this short cut, you will understand everything.
Sir, how confident you are?
How can you say this?
I don't trust CA's name.
I trust CA's degree.
I trust a person who works hard and becomes a CA.
A person who has infinite knowledge.
Okay? So, he will never be defeated.
A person with knowledge and hard work will never be
defeated.
No matter what happens.
There is nothing to worry about.
Okay? Okay, sir.
Is it worth doing?
Even now, sir, we are thinking about IIA.
Many children think so fast.
About decision.
Now, it's okay.
Now, CA will be defeated.
Now, IIA will work.
Nothing will happen.
Institute will improve its patterns.
Now, the good thing is,
The things that you had a problem with your institute.
Institute will listen to those things now.
Because competition is coming.
Now, it's a fun time.
Now, your words will be heard.
Some issues students always have with the institute.
Now, those things will be better.
Institute will improve itself.
All the shortcomings will be gone.
Paper patterns will be better.
And personally, I believe,
The things that have entered the intermediate and final,
They will be destroyed.
In a very good way.
So, this is positive news for us.
Not at all negative.
This is the most positive news of the week.
Okay.
Let's move on.
It's okay to talk a little bit.
In between.
Yes, sir. It's okay.
I get bored while reading.
I feel like talking in between.
What else?
That's why I do it. I know.
You get bored.
You have to be very careful.
Example.
It will be a little big.
This example, I think.
Let me write it.
It will be a little big.
Because it's in the paper.
It's a little big, but write it.
It's in the exam.
Okay, sir.
Following.
One more thing may come to your mind.
Let me tell you before moving on.
Sir, we have done so many examples.
You have mostly purchased in everything.
You have made a sale in one or the other.
You have returned the purchase somewhere.
But the word purchase is being used more.
Don't worry.
We still have classes.
Everything will be covered.
Should I explain to you first?
Or should I do the classification first?
Or should I bring it directly to the advanced level?
Sir, we are not saying anything.
You are saying.
Okay, good.
Following.
Credit purchases.
Have been made.
By Mr.
Galtiram.
His parents must have felt that
It is a big mistake to be born.
So he named it Galtiram.
And the one whose name is Galtiram.
He made a mistake.
What mistakes happened?
Let's see.
He bought some things on January 11.
From Assent Company.
Two lakh rupees.
The seller.
Galtiram.
1% trade discount.
2 lakhs.
2000 rupees.
Absolutely right.
Then came January 13.
Two days later.
It is a very difficult day.
I don't know what will happen the day after tomorrow.
Last night.
There is a fire.
Two days later.
Let's see what will happen.
Will our team reach or not?
January 16.
Three days later.
From Assent Company.
Bought things.
One lakh twenty thousand.
And Assent Company said.
We are not behind.
We will give you 1% trade discount.
Absolutely right.
Now.
From here.
Assent Company.
Make an account.
Assent Company.
Make an account.
Assent Company.
Bought things from Assent Company twice.
And he gave us a trade discount of 1% twice.
Make a direct account.
Tell me.
Should I post on the debit side or the credit side?
Karishma is laughing.
Karishma.
Good.
This is my ultimate core.
I will tell you honestly.
While making notes.
I try.
Everything will be done.
There should be no boredom in the class.
We have a lot of people to teach us.
If we study with fun, it's more fun.
Which ad comes on TV?
Their heart is hurt.
I don't know what the dialogue is.
If someone teaches with heart, their heart is hurt.
I don't know whose ad it is.
Tell me quickly, which side will the ad come on?
Posting will come.
Debit or credit?
Buy or purchase?
Karishma said buy or purchase.
Absolutely right.
Absolutely correct.
Buy or Purchase?
First of all, we will enter on 11th January.
Rs. 1,98,000.
Okay, sir.
On 13th, we bought from NN.
It won't come here.
On 16th January, we bought again from S & Company.
For Rs. 120.
Tell me, how much will it come by deducting 1%?
Minus 1%.
This is your RIG.
Rs. 11,88,000.
Rs. 1,18,800.
Calculate their total.
Total, total, total.
Both of them.
Tell me, how much is the total that we purchased from S &
Company?
Tell me, tell me.
How much is our total?
Rs. 3,16,800.
Very good.
Rs. 3,16,800.
Good.
I will write it down.
Rs. 3,16,800.
I have also written CD here.
Rs. 3,16,800.
I have also written total here.
Rs. 3,16,800.
Okay? Can't you see any mistake?
If we look carefully, you have not written Rs.
You have only written Rs. 3,10,000.
This is the mistake.
If this becomes correct, then where will the rectification
come from?
If everything is correct, then what is the need of
rectification?
It was a mistake.
Instead of Rs.
3,16,800, you have written Rs.
3,10,000 by mistake.
My God!
Because of which CD also went Rs. 3,10,000.
Tell me the stage of error.
Stage of error.
This is the new point.
Stage of error.
What is the answer?
Karishma said balancing.
It's a good thing.
At least you didn't say posting.
The answer of posting would have been more wrong.
Let me tell you.
This is not balancing.
Do you know when balancing is a mistake?
When something happens in the credit, and it is minused,
then it is a mistake.
We made a mistake in the totaling of the credit side.
So we will call it at the time of totaling.
By the way, it is not a big deal.
Even if you write balancing, it will work.
Whether you call it balancing or totaling, both are fine.
Both will work.
Type of error.
Two answers.
Sir, we tell you the error of commission.
You say no after two minutes.
You say it is a principal error.
It is a compensating error.
We are afraid to answer.
Sir, you write it yourself.
Varsha said I am not afraid of anyone.
This is the error of commission.
Absolutely right.
There is no trick this time.
This is the error of commission.
Wrong amount.
What will happen to the trial balance?
Will the trial balance tell you or not?
What will happen to the trial balance?
Look, listen to me simply.
Don't go too deep.
There is a mistake in one account.
In the ascent company account.
We did not talk about the purchase account.
Purchase account means
Absolutely right.
If the question is silent about someone.
We would assume that it is right.
There is no mistake in it.
If there is a mistake somewhere.
The question tells it.
I did not say anything about the purchase account.
We would assume that the purchase account is absolutely
right.
There is a mistake in one account.
One-sided error.
Line account telly.
There will be no tally.
It will not match.
I will not be
I will fail.
Before preparation of trial balance?
Is double entry possible?
Trial balance will not tell.
But I need one more no, one more no, Karishma has come,
there will be no double entry, it is a one-sided error,
there will be no double entry, sir.
So, brother, the account will have to be fixed, the account
of S & Company will have to be fixed.
Use your brain, ladies and ladies, use your brain, what
line will be made, I will give you a full minute's time,
don't ask me for a year's time like Ferreira Ferry's Parish
Rawal, think for a minute and tell me, I will be quiet for
a minute, here, timer on.
Sir, it will take a minute to type, come on, give 30
seconds more,
Varsha, the answer so far is fine,
tell me the counter, absolutely right, I did not say
anything wrong in the last class,
Varsha and Karishma have a very deep friendship, see Varsha
said that he will credit S & Company and Karishma told the
amount 6800, you hold them, both have answered together,
once I was watching a faculty video, so a student had asked
him, they were sitting for talks,
they were talking to each other, so they were live on
YouTube,
and a student asked him,
Sir, my first group is clear, there is no second pass, and
my brother's second clear, there is no first pass, so will
we get the final ticket by combining both of us?
This is exactly the same thing,
Sir, the marks of the accounts were the same, even after
our centers were separated, now on this point, maybe you
will have to clap, it means that there is a serious
connection between you, it means that there is a serious
connection, now I am sure,
the best thing is that the answer is right for both of you,
we will call this CD here, come here, 310, you are not 310,
you are 3600, hold this 6800, we have to keep this in mind,
now this CD will be 6800,
so the line is being made,
write it down, now you have become an expert,
now I am not worried about you, you have become an expert
in this chapter,
and we will name it,
Sir, by the way, I have a feeling inside,
that we will get to see this type of question in the exam,
or there will be some difference, because when we feel that
yes, now we have everything, then our next step is that,
then our mind thinks that we will get to see something like
this in the paper or not, see, first of all,
everything is available on the site, you can also see the
question paper, everything will be seen like this, nothing
will come out, this is my promise to you,
I just need one more thing from you, retention, what I am
doing, it is your duty to retain and revise, you will call
me an hour before the paper, or message, that Sir, we have
this issue,
I would pick and try to solve it, if I am available,
I will do it 100%, if there is anything more difficult,
then maybe I will not be able to do it, the rest, the same
reasonable assurance,
I will do it 95%, but, during that time, you have to keep
revising till there, there is no problem in the middle,
there are doubt sessions, there is no problem from my side,
you work a little more, the second stage will be, after
trial wellness, before financial statement, now the logic
is such that, now you have to walk at speed, now you don't
have to walk carefully, now gear, click, you have taken all
the guesses, now you have to walk at speed, and give me the
answer of this second stage
Don't go too far that the trial balance will be like this
Difference will be there
Suspension will be like this
Give me the answer quickly
Now those things of last night
Now I need the answer from the short cut trick which I have
taught
Give me the answer quickly
It's a question of my respect
Give me the answer quickly
It's a question of my respect
Do you want to give the answer, Varsha?
After trial balance, before financial statement
What rectification entry will be made?
Karishma has not made yesterday's mistake
This time the answer is absolutely right
Karishma said, Sir, why are you asking us?
You have taught us
Look up, which account is getting credited?
Ascent Company?
So credit Ascent Company
From 6800
And as far as the debit is concerned, the debit will be
suspended
Varsha Very good, very good
And the third stage which is with us
After financial statement
This is going to be the entry there too
Suspense account debit to
S and Company account 6800, 6800
Write it down
Very good
Well done
This is actually asked once in the exam
That's why I said it's important to get you
And are you looking for Sir for us?
Examples Yes And why not look for me?
You have to write a homework too
A homework is also to be written
Varsha is right, this is the right answer
Suspense to Ascent Company
Absolutely right
Superb stuff
Very good
Write a homework
Sir, you have changed a bit
You didn't give a homework before
Now you are giving a homework
Half of 5 minutes
Only for 5 minutes
What do you say?
Huh? If there is a 5-minute homework
I am giving you for fun
Write
Sales book
Is undercast
By Rupees
Sales book is undercast
By Rupees 200
First of all, its Hindi translation
I will tell you
In the sales book
We sold goods to 2-3 people
Fine The total was coming
We wrote 200 rupees less by mistake
Total Yes Less Undercast means
We wrote 200 rupees less
Total Fine If I say
This was our sales book
In this, we sold goods to 2-3 people
The total was coming
We reduced it by 200 rupees
Fine Assume the actual total was coming 10,200 And we wrote
by mistake
Only and only 10,000
We sold X for 5000
Sold Y for 3000
And sold Z for 2000 2,200 Total should have been written
10,200
Wrote only 10,000
This is your homework
You have to rectify all three stages
Varsha is saying
What should I do now?
You are giving him homework
What should I do now?
Its a one-sided error
Tell me now
Varsha I understood
Dial Balance will not tell you
Its a one-sided error
Tell me rectification
Fine Varsha
Fine No problem
I was saying earlier
What is this homework?
That's why I said
Listening to undercast and overcast words
You can get confused
Sir In the class
Never used undercast and overcast
Undercast means
Total was written less
Overcast means
Total was written more by mistake
That's it
Nothing else
Then I taught you thinking
I have not made you think
I have taught you to think
Now whatever comes in the example
Whatever comes in the paper
It will not be beyond your reach
You have thought
Thought process
Concept logic you have
Sir, there is a question in the book
I did this yesterday
Good Very good Varsha
Very good
Let's go
Sir, move the car forward
I said take this
Now we are moving in the 5th gear
Danadan Danadan Danadan
Take this
Write Now the cash book comes to you
Not a single mistake of the cash book
You have been saying for a long time
Sir, we are purchasing
Do something different
Here comes different
Cash book error is coming now
While posting
Discount column on
Debit side of cash book
Discount column on
Debit side of cash book
Discount to Ramesh
Allowed Rs.
Has not been posted has not been posted while posting
discount column on debit side of cashbook discount to
ramesh allowed 10 rupees has not been posted has not been
posted to ramesh account.
Stage of error
Which stage of error is this?
Sir, this is the error of posting
Good While posting to legend
I didn't post anywhere
Now you tell me
Type of error
Now I ask you type of error
Type of error
Karishma said absolutely right
Varsha made a small mistake
Varsha, I will tell you a trick to correct your mistake
Varsha, you say
Sir, this C is written by mistake
I wasn't typing
I didn't want to write C
I want to say omission
Varsha, this is omission
Partial omission
Remember yesterday's class
We posted at one place
In discount allowed account
Not in Ramesh account
This is partial omission
Not wrong amount
Not wrong account
Not wrong side
Not entry
Omission, yes sir, I remember
Okay No problem
Error of omission
Write in bracket
Partial omission
Line is very thin
You have to work hard
Trial balance
Will not telly
Trial balance will be affected
Will not telly
Trial balance will be affected
Next is what?
Rectification One sided error
Trial balance is not telling
Double entry is not possible
You have to correct the account
Tell me the line
One minute
Credit to Ramesh
Very good
By discount
Right Amount will be 10 rupees
Very small amount
Will not telly
Okay Good Very good
Ramesh account
Nothing happened
No problem
Credit 10 rupees
By omission in posting 10 rupees
Write the line
Error will be
Corrected By crediting
Ramesh account
By crediting Ramesh account
With rupees 10
And name will be
By omission in posting
Within seconds answer should come
What will happen of second stage?
After trial balance
Before financial statement
Within seconds answer should come 5 Answer Suspense to
Ramesh
Suspense to Ramesh
Ramesh Ramesh Short form answer
Correct Suspense to Ramesh account 10 Very good
After financial statement
Entry will be same
Ramesh Ramesh Personal account
Nominal Suspense to Ramesh 10 Very good
Same Good Very good
Very good
I told him that I am on a holiday. He told me to do some
more and then I will tell you what I am going to do
tomorrow.
All the examples that we are starting from are in this
paper.
I will show you first of all.
We have many good scanners available in the market.
Let me show you.
Varsha, let me tell you.
There is a taxman's scanner in the market.
Principle and Practices of Accounting.
There are many question papers from the past year.
And don't get scared by looking at this.
Don't get scared by looking at what I am going to show you.
Promise me that we will not get scared.
Look at this.
This is Shuchita's scanner.
For CA Foundation. Latest attempt.
I have Krishna's scanner.
This is on Krishna.
Who is Krishna?
Varsha, who is Krishna?
God, I know. I don't know any other Krishna.
Do you want to say Karishma?
You wrote it wrong.
This is on Karishma.
This will be included in my notes.
Don't worry about this.
This is our job.
These things will be included in the notes.
Although we are referring to them.
You can do it too.
But it will be included in the notes.
Don't worry about it.
Okay, sir.
Let's go ahead.
Let's go.
Write it down.
Sir, you made me promise.
But you really threw it away.
I didn't know that I would have to write so much.
Otherwise, I wouldn't have promised you.
I would have refused in the first class.
No, no, I won't be able to write.
Now the destination is not far.
Now we have reached.
Why are you getting tired now?
Have you seen Housefull?
Housefull, Akshay Kumar.
Why are you getting tired?
Don't get tired now.
Now we have reached.
By mistake on debit of his account.
100 rupees have come from Laxman.
By mistake on debit of his account.
Here comes.
A powerful logic of studying from me and doing so much hard
work.
A powerful logic.
What are you going to say, sir?
Listen carefully.
Many people say.
That through journal entry.
We understood this chapter.
You explain it so long.
First you tell what is the mistake.
Then you show the purchase book by posting.
Then you do all the talks.
Then you do rectification in the last.
We get our students in the form of direct entry.
We tell the students.
Son, write.
What should have been the right entry?
Then son, write.
What was the wrong entry?
And then match them both.
Do rectification.
We do this to our students.
What have you done for so many children?
What is this?
So I ask them.
I ask the examples like this.
And one of them is this.
Those who do this through right wrong rectification.
They get a little stuck in my talk in this example.
Sir, tell us how?
They say.
What should have been the right entry?
If 100 rupees came from Laxman.
All the children say loudly.
Sir, sir, sir.
Cash account debit to Laxman account.
This should have been the entry.
100, 100.
Then they say to the children.
Do you know what happened to the children?
Children accidentally Laxman account.
Instead of getting credit.
Debit happened.
Entered by mistake on debit side.
Laxman account was also debited by 100 rupees.
And the question about cash is silent.
So I told you.
Whatever is silent is fine.
It should have been debited.
And debited 100 rupees.
And they say.
It was a mistake that we wrote this entry.
Cash account debit 100 rupees.
Laxman account debit 100 rupees.
I keep two things here.
First thing.
Such a stupid accountant.
There may not be anyone in the world.
Which is double entry.
Both the accounts are debited.
Someone may have a mistake in the account.
There may be a mistake in the amount.
There may be a mistake in the concept.
Do you know so much?
That there is one debit in the journal entry.
And at least one credit.
Both are not debited.
Everyone knows this.
No accountant can make such a stupid mistake.
Second thing.
My second and more important logic.
Accounting is in the software of Tally.
For many years.
Tally's software.
Will not let you move forward.
If you make a debit in the cash account.
And if you make a debit in Laxman.
And if you don't do any credit.
Tally will show you first.
Do some credit.
Entry cannot be saved later.
So tell me.
Tally will not let you make this mistake.
Tally will climb on you.
Will tell you to do credit.
Tally will say.
He will not let you move forward.
You will not be able to do anything.
There can never be a mistake in life.
In Tally.
That both accounts will be debited.
So then.
So they got stuck. Then what do they say? Then they say,
listen, listen, listen, their next weapon must have gone
into suspense.
Friends, what kind of content is this that opens the
suspense before making a mistake?
Who will pass such an entry?
Please think logically.
When a mistake happens, after that we open the suspense.
To fix it, to get the trial balance tallied.
Does anyone make a mistake by opening a suspense account?
There is a difference in both these things.
Will a person deliberately open someone's suspense account
and deliberately make a mistake?
There is no such content.
Why will he open the suspense?
When the suspense opens, when the trial balance does not
match, then from where did you get the trial balance at the
general level?
Bring the suspense at the first stage.
Where will the suspense come from at the first stage?
It comes on the trial balance.
So the suspense cannot come here.
So this method seems completely wrong.
Conceptually, this is a completely wrong method of teaching.
This is absolutely wrong.
And I have told you by coming here.
Because I had faith in you.
First you will listen to me, you will understand.
And only then will I be able to tell why this method is
wrong.
I would like to congratulate you that you listened so
patiently and you understood the matter.
And now you must be feeling good that yes, sir, you are
right.
This is a completely wrong method conceptually.
That's why two examples come in this way, there is a
problem in two.
The child says, there is a lot of confusion, I don't
understand.
How will the confusion be clear?
It will be clear as if we have worked with you and you have
worked with me.
It will be clear like this.
It will be clear by doing hard work.
Okay? So today I have given you logic at the end of the
fourth class in detail.
Sir, I also went in the eleventh class and did not
understand BRS.
This is their process.
Let me tell you one more thing.
BRS is also very typical.
BRS is also a very typical chapter.
That's it.
For a little while.
If someone takes you on the right path, there is no problem
in BRS.
You must have experienced this too.
Yes, you are perfect now.
Yes, of course.
You just need a little while.
Yes, Varsha, at that time you said that BRS has become your
favorite chapter.
I remember.
It happens in 5 minutes.
Yes, yes. Good. Very good.
Your hard work is in this.
You revise the notes so many times that the question is
solved in 5 minutes.
Very good.
Karishma, did you understand why we go into so much detail?
This right-wrong rectification approach is completely wrong.
Okay, sir.
Yes.
It is my duty to tell you this after 5 minutes.
Otherwise, should I show you any such example tomorrow?
See, right-wrong rectification.
We do it in 2 minutes.
Our teacher has told us a very tricky trick.
Who are you studying from?
What was the need of such a long lecture?
Tell him this example.
Okay? It is my duty to tell you this.
Don't get stuck tomorrow.
Ask him this example.
Show him through this entry.
If he credits the suspense, ask him to credit the suspense.
It will come during the trial run.
Telly does not allow to debit both.
I got your point, sir.
Karishma, I think someone said this to Karishma.
Yes, yes.
Karishma, absolutely.
You can ask someone.
Did you understand? Very good.
Erase this, sir.
We don't want this method.
Remove this from our eyes.
It should not be seen.
Friends, what happened? 100 Rupees came from Laxman.
Okay? Journal entry is absolutely correct.
Journal entry is absolutely correct.
Cash account debit to Laxman.
There is no mistake in journal entry.
Do you know where the mistake is?
The mistake is here.
When we went to make a cash account and when we went to
make a Laxman account.
We wrote in the cash account 2 Laxman 100 Rupees.
But in the Laxman account, we should have written buy cash.
By mistake, we wrote 2 cash here.
I write it with a red pen.
I write the mistake with a red pen.
This is the mistake.
There is no mistake on the journal level.
So how can you rectify the child through the journal level?
The mistake is in the ledger.
Entry is absolutely correct.
There is a mistake in the account.
If you look from here, you will understand things better.
In the cash account, CD will come 100.
And in the Laxman account, buy CD came 100.
My God!
Now make the trial balance.
In the cash account, the debit side will be 100.
And in the Laxman account, the debit side will be 100.
Now you will need the suspense.
To credit it on the second stage, 200.
Suspense can be opened here.
Suspense cannot be opened in the journal.
In the cash account, the debit side is 100.
In the Laxman account, the debit side is 100.
Now tell me the stage of error.
While posting to ledger.
Type of error.
Error.
Speak up.
Say it.
Commission.
Error of commission.
Say it.
Very good.
Error of commission.
Wrong side.
On the third stage, trial balance will not tell you it is
affected.
Get me a rectification.
It has been asked in the exam already before trial wellness
but double entry possible double entry possible double
entry possible one-sided error
how to correct it?
Let's see how to rectify it
We'll ask this CD to come here 2BD 100 and the other side
how much we'll write by cash?
By Cash 200 Varsha said 200 absolutely right we'll write
with the amount
Remember when side changes
I gave you one more example
I'll give you one more
Now I'm telling you
Lakshman account with rupees 200 as by posting on wrong
site posting on a wrong site.
within seconds second stage after trial release before
financial statement within second second stage suspense to
Lakshman suspense to
Lakshman sir is bar nickel drivers Varsha Mary there's a
wishes a honestly nickel a hundred percent bill cool don't
worry at all but a cheese but Mary a cheese mania they go
as a bolsa catches money as a nickel a hazard nickel a bus
be like this
not like this
suspense to Lakshman manner both career a polonium up fall
panic assam a Lakshman account suspense to Lakshman 200 200
or last stage Barbie same entry or Jaggi third stage Barbie
same entry suspense to Laxman after financial statement in
same position
shelves idade
If you have any doubt, you can ask me.
No problem at all.