Question No 08 Chapter No 17 - T.S. Grewal 11 Class

Question No 08 Chapter No 17

8. Following errors are discovered in the books of Sh. Ram Lal. Make the necessary entries to rectify them:
(i) Purchases Journal was undercast by 2,150.
(ii) 500 received from K. Krishna was debited to his account.
(iii) An amount of 3,000 withdrawn by the proprietor of the firm for his personal use was posted to the Travelling Expenses Account.
(iv) An amount of 175 for a credit sale to R. Gopalan correctly entered in the Sales Book, has been debited to his account as 157.

The solution of Question No 08 Chapter No 16:-

 

Date	Particulars		L.F.	Debit	Credit
i	Purchases A/c	Dr.		2,150
	To Suspense A/c				2,150
	(Being Purchases Book was undercast now rectified)
ii	Suspense A/c	Dr.		1,000
	To K. Krishna				1,000
	(Being Received from K. Krishna was wrongly debited, now rectified)
iii	Drawings A/c	Dr.		3,000
	To Travelling Expense A/c				3,000
	(Being Amount withdrawn by the proprietor for personal use wrongly posted to Travelling Expenses Account, now rectified)
iv	R.Gopalan A/c	Dr.		18
	To Suspense A/c				18
	(Being R. Gopalan’s Account was debited by Rs 157 instead of Rs 175, now rectified)

 

 

 

 

 

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Also, Check out the solved question of previous Chapters: -

• • Chapter No. 1 – Introduction to Accounting
  • Chapter No. 2 – Basic Accounting Terms
  • Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
  • Chapter No. 4 – Bases of Accounting
  • Chapter No. 5 – Accounting Equation
  • Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
  • Goods and Services Tax(GST)
  • Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
  • Chapter No. 8 – Journal
  • Chapter No. 9 – Ledger
  • Chapter No. 10 – Special Purpose Books I – Cash Book
  • Chapter No. 11 – Special Purpose Books II – Other Books
  • Chapter No. 12 – Bank Reconciliation Statement
  • Chapter No. 13 – Trial Balance
  • Chapter No. 14 – Depreciation
  • Chapter No. 15 – Provisions and Reserves
  • Chapter No. 16 – Accounting for Bills of Exchange
  • Chapter No. 17 – Rectification of Errors
  • Chapter No. 18 – Financial Statements of Sole Proprietorship
  • Chapter No. 19 – Adjustments in preparation of Financial Statements
  • Chapter No. 20 – Accounts from incomplete Records – Single Entry System
  • Chapter No. 21 – Computers in Accounting
  • Chapter No. 22 – Accounting Software – Tally
  • Chapter No. 5 - Accounting Equation
  • Chapter No. 6 - Accounting Procedures - Rules of Debit and Credit
  • Goods and Services Tax(GST)
  • Chapter No. 8 - Journal
  • Chapter No. 9 - Ledger
  • Chapter No. 10 – Special Purpose Books I – Cash Book

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