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If a debit entry is wrongly posted to credit side or vice versa then the difference amount will be :

a. Exactly equal to the amount of transaction. b. There will be no difference. c. Double of the amount of the transaction.

Accounting Financial Reporting
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Question added by Deleted user
Date Posted: 2014/08/16
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Rehmat Iqbal Marwat
by Rehmat Iqbal Marwat , Office/ Audit Assistant , Finance & Planning Department

It will be double the amount of transaction. So, for the purpose to correct, the first entry is required to offset the effect of wrong entry while a second entry would be required to post the correct amount.

Ahmed Moaty, ACCA, CIA
by Ahmed Moaty, ACCA, CIA , Internal Audit Deputy Manager , Dubai Financial Market

It will be double the amount of transaction.

Deleted user

C. Double the amount of the Transaction.

FITAH MOHAMED
by FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

>>>>>>>>>>>>>>>>>of course c. Double of the amount of the transaction.

DINESH KUMAR BALASUNDARAM
by DINESH KUMAR BALASUNDARAM , SENIOR ACCOUNTANT , EUROPCAR - DUBAI

(C) Double of the amount of the transaction - is the right answer

Saleem Khatri
by Saleem Khatri , Head of Finance , Berger Paints International

C

Muhammad Zeeshan Hyder
by Muhammad Zeeshan Hyder , Chief Accountant , SAED Group International (Al Dabbagh Group)

C

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