Question No 13 Chapter No 17 - T.S. Grewal 11 Class

Question No 13 Chapter No 17

13.Rectify the following errors:
(i) Purchases Book is overcast by 500.
(ii) Salary paid to an employee, Mr Ajay, is debited to his Personal account 3,000.
(iii) Goods sold to Shashi on credit 300 have been wrongly passed through the Purchases Book.
(iv) Total of Returns Inward Book has been added 9 short.
(v) Purchase of chair from Happy Traders for 35 has been entered in the Purchases Book as 53.

 

The solution of Question No 13 Chapter No 16:-

 

Date	Particulars		L.F.	Debit	Credit
i	Suspense A/c	Dr.		500
	To Purchases A/c				500
	(Being Purchase Book was overcast now rectified)
ii	Salaries A/c	Dr.		3,000
	To Mr Ajay				3,000
	(Being salary paid to Mr Ajay was debited wrongly to Mr Ajay’s Account)
iii	Shashi A/c	Dr.		600
	To Sales A/c				300
	To Purchases A/c				300
	(Being Goods sold to Shashi was wrongly passed through Purchases Book, now rectified)
iv	Return Inwards A/c	Dr.		9
	To Suspense A/c				9
	(Being Amount owed by X was included in Sundry Creditors, now rectified)
v	Furniture A/c	Dr.		35
	Happy Traders A/c	Dr.		18
	To Purchases A/c				53
	(Being Purchase of Chair Rs 35 was recorded in the Purchases Book As Rs 53, 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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