Corrections to Accounting and Bookkeeping Principles and Practice textbook

and workbook March 2015

The 2015 reprint has corrected the errors listed below. To determine which version of the book you
have, please look at the imprint page. The screenshot below shows the original printing, the 2015
reprint will include the text ‘reprinted 2015’. McGraw-Hill Education and the authors would like to
thank Monarch Institute for bringing these errors to our attention.

Corrections to textbook

Page no. Reference Change made

90 Illust 4.11 Under General journal lines 5 and 6 ‘30 000’ changed to ‘16 000’ twice.
107 Stage 1 In account 3 GST input ‘60 dr’ changed to ‘60 cr’
110 Stage 2 Under the table at the top in line 2 ‘...to account 16’ changed to ‘...to
account 11’
163 Under account 11.1 D. Dennis line 5 ‘551 dr’ changed to ‘551 cr’
216 Illust 10.1 Under ‘General Comment 7’ ‘$4480’ changed to `$4320`. And ‘$29 060’
changed to ‘$28 900’. (The amount of 24 580 is unchanged).
228 Ex 10.3 See changes to table below.
247 Medicare Levy changed from 1.5% to 2%
248 Employers Contributions to Super changed from 9% to 9.5%.
282 Under ‘Method of valuing inventories’ sentence now reads ‘Illustrations and
exercises in this chapter concentrate of these three latter methods and unit
costs have been calculated to two decimal points.’
335 Illust 14.1 Under general journal in the credit column
‘1 000’ changed to ‘1 600’.
352 Ex 14.3 ‘and 14.3’ deleted.

Page 228.

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 WORK BOOK
Page no Reference Action required
11 Ex 2.8 First line ‘Credit (included with sales)’ changed to
‘debit’ to be consistent with answer page 199.
190 Q3 Under ‘Equity’ $13 500 changed to $13 000.
207 Ex 3.14 In the Cash Receipts Journal in the Account column ‘Interest expense’
changed to ‘Interest received’.
240 Ex 6.8 ‘Debtors’ changed to ‘Creditors’ as heading of left column.
255 EX 8.6 Third paragraph, ‘$180 000 the deduction of $5000 for private use’ has
been removed.
The line now will read ‘To the non-capital purchases of $175 000 add the
capital items $50 000 = $225 000.
78 & 269 Ex 10.3 Top line ‘Credit balance’ changed to ‘Debit balance’ and ‘200 cr’ changed
to `200 dr’.
290 & Ex 12.1 See corrections to table in screenshot below.
291
294 Ex 12.4 Minor calculation errors corrected:
14 May Value ‘6121’ changed to ‘6124’
16 May in Unit cost column ‘9.70’ changed to ‘9.72’
16 May Value ‘1455’ changed to ‘1458’
18 May Value ‘4305’ changed to ‘4308’
19 May Value ‘4209’ changed to ‘4212’
25 May Value ‘3730’ changed to ‘3733’
31 May in Unit cost column ‘9.56’ changed to ‘9.57’
31 May Value ‘3405’ changed to ‘3408’
301 Ex 12.14 Table B ‘Comparisons’ in ‘cost of goods sold’ changed ‘+$ 8530’ to ‘= $
8530’.
311 Ex 13.12 Top line ‘9%’ changed to ‘15%’.

306 Ex 13.6 Under (b) BALANCE SHEET EXTRACTS 2nd column ‘42 000’ changed to 45
000 and
‘33 600’ changed to ‘36 600’.
315 Ex 13.15 Method 1 (b) Disposal of Furniture in ‘1121’ moved from middle column to
4th column.
In Method 2 Profit and loss ‘6 600 dr’ in end column changed to ‘7921 dr’.
321 Ex 14.8 Under (b) BAD DEBT
In end column ‘1 500 cr’ changed to ‘1 500 dr’.
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 ‘1500’ moved from middle column to 4th column.
326 Ex 14.5c In ‘Rent Revenue’ ‘10800’ against profit and loss moved from credit to
debit column.
175 and Trial test 6 For the stock ledger card at the bottom of p175 title ‘FIRST IN FIRST OUT
364 METHOD (FIFO)’ changed to ‘AVERAGE COST METHOD’.

Page 290 and 291

Copyright McGraw-Hill Education 2015