Question No 15 Chapter No 10 - Unimax 11 Class

Question No 15 Chapter No 10 - Unimax Class 11

Show how you would correct the following errors, giving journal entries with due narration as are necessary:
(a) A amount of ₹ 105.15 for a credit sales to C.B. Gupta, although correctly entries in the sales book, has been posted as ₹ 115.05.
(b) A credit purchases of goods amounting to ₹ 125 from M/s Vikram & Co has not been entered I the purchase book, but the payment made later on has debited to their personal account.
(c) Wages paid ₹ 267.50 for installation of a new machine aer debited to salaries nd wages account.
(d) ₹ 750 being the cash paid for the purchase of a ratio set for the proprietor had been debited to general expenses account.
(e) Salary ₹ 125 paid to a clerk due to him has been debited to his personal account.

The solution of Question No 15 Chapter No 10 -

Journal

Date	Particulars		L.F.	Debit	Credit
a.	Suspense A/c	Dr.		9.9
	To C.B. Gupta A/c				9.9
	(Being sales to C.B Gupta of ₹ 105.15 recorded as ₹ 155.05, now rectified)
b.	Purchases A/c	Dr.		125
	To M/s Vikram & Co.’s A/c				125
	(Being purchases of goods from Vikram & Co. has not been entered, now rectified)
c.	Machinery A/c	Dr.		267.5
	To Salaries & Wages A/c				267.5
	(Being wages paid for installation of now machinery debited to salaries wages a/c, now rectified)
d.	Drawing A/c	Dr.		750
	To general expense A/c				750
	(Being cash paid for radio set purchases for proprietor has been debited to general expenses a/c, now rectified)
e.	Salary A/c	Dr.		125
	To Clerk’s A/c				125
	(Being salary paid to a clerk debited to his personal a/c’ now rectified)

It is all about Question 15 Chapter 10 of Class 11 Unimax, If you have any problem please comment below.

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