Problem No 3 Chapter No 10 - Unimax 11 Class

Problem No 3 Chapter No 10 - Unimax Class 11

The books of Gupta & sons could not be tallied. The accountant transferred the difference of ₹ 2,200 in the suspense account on the debit side. The following mistakes were found later on.

1. Purchases of ₹ 1,100 from Varun was entered into sales book but his personal account was rightly credited.

2. A purchases of ₹ 1,430 from Ram was credited to his account as ₹ 1,340.

3. Sales of old furniture of ₹ 2,540 was credited to sales account as ₹ 2,450.

4. Goods worth ₹ 400 were taken by the proprietor for his personal use was not recorded in the books.

5. Sales of ₹ 1,296 to Amita was entered in sales books as ₹ 1,269.

6. Sales returns books balances of ₹ 210 was wrongly included as purchases return balance.

The solution of Problem No 3 Chapter No 10 -

Journal

S. No.	Particulars			L.F.	Debit	Credit
1	Purchases A/c	Dr.			1,100
	Sales A/c	Dr.			1,100
	To Suspense A/c					2,200
	(Being purchase from Varun entered in his a/c as ₹ 1,340, now rectified)
2	Suspense A/c	Dr.			90
	To Ram’s A/c					90
	(Being purchases from Ram ₹ 1,420 entered in his a/c, now rectified)
3	Sales A/c	Dr.			2,450
	Suspense A/c	Dr.			90
	To Furniture A/c					2,540
	(Being sales of furniture credited to sales book and with wrong amount, now rectified)
4	Drawing A/c	Dr.			400
	To Purchases A/c					400
	(Being goods withdrawn by proprietor omitted to be recorded, now rectified)
5	Amita’s A/c	Dr.			27
	To Sales A/c					5,000
	(Being sales to Amit of ₹ 1,296 recorded in sales book as ₹ 1,296, now rectified)
6	Sales returns A/c		Dr.		210
	Purchases returns A/c		Dr.		210
	To Suspense A/c					420
	(Being sales return balance wrongly included as purchases returns, now rectified)

 

Dr.	Suspense A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
	To balance b/d		2,200		By purchases A/c		1,100
	To Ram’s A/c		90		By Sales A/c		1,100
	To furniture A/c		90		By Sales return A/c		210
	To Balance c/d				By purchases return A/c		210
			2,620				2,620
					To balance b/d		240

Read out the full article to know the meaning of Rectification of Errors 

Error Rectification in accounting – Explanation with examples

Also, Check out the same article in Hindi from the following link

Error Rectification in accounting – Explanation with examples-in Hindi

Also, Check out the solved question of all Chapters: –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

• Chapter No. 1 - Introduction of Accounting
• Chapter No. 2 - Theory Base of Accounting
• Chapter No. 3 - Vouchers and Transactions
• Chapter No. 4 - Journal
• Chapter No. 5 - Goods and Services Tax (GST): An Introduction
• Chapter No. 6 - Ledger
• Chapter No. 7 - Special Purpose Book -  Cash Book
• Chapter No. 8 - Other Subsidiary Books 
• Chapter No. 9 - Trial Balance 
• Chapter No. 10 - Rectification of Errors
• Chapter No. 11 - Depreciation
• Chapter No. 12 - Provision and Reserves
• Chapter No. 13 - Bank Reconciliation Statement
• Chapter No. 14 - Bills of Exchange 

Students may choose only one part from the Part II and Part III

Part-II

• Chapter No. 15 - Financial Statements (Without Adjustments)
• Chapter No. 16 - Financial Statements (With Adjustments)
• Chapter No. 17 - Accounts from Incomplete Records -  Single Entry System

Part-III

• Chapter No. 18 - Introduction to Computers and Accounting information System
• Chapter No. 19 - Computerised Accounting
• Chapter No. 20 - Accounting Software: Tally 
• Chapter No. 21 - Data Base System
• Chapter No. 22 - Concept of Entity and Relationship