Question No 18 Chapter No 10 - Unimax 11 Class

Question No 18 Chapter No 10 - Unimax Class 11

Give journal entries necessary to correct these errors and prepare the suspense account. A trial balance disclosed a difference of ₹ 417, placed on credit side of suspense account. Later on following errors were located. Pass rectifying entries and prepare suspense account.
(a) Goods worth ₹ 200 purchased from Sohan has been posted to his account as ₹ 250.
(b) A purchase of furniture for ₹ 500 was recorded in purchases book.
(c) Instead of crediting Gian’s A/c with ₹ 512’ it was debited with ₹ 215.
(d) Goods worth ₹ 130 returned by G were entered in sales book and posted therefrom to credit of G’s personal A/c.

The solution of Question No 18 Chapter No 10 -

Journal

Date	Particulars		L.F.	Debit	Credit
a.	Sohan’s A/c	Dr.		50
	To Suspense A/c				50
	(Being goods of ₹ 200 purchased from Sohan posted to his a/c as ₹ 250, now rectified)
b.	Furniture A/c	Dr.		500
	To Purchases A/c				500
	(Being furniture purchases recorded in purchases book, now rectified)
c.	Suspense A/c	Dr.		727
	To Gian’s A/c				727
	(Being instead of crediting Gian’s a/c wrongly debited, now rectified)
d.	Sales return A/c	Dr.		130
	Sales A/c	Dr.		130
	To Suspense A/c				260
	(Being goods returned by G entered in sales book, now rectified)

 

Dr.	Suspense A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
	To Gain’s A/c		727		By Balance b/d		417
					By Sohan’s A/c		50
					By Sales A/c		130
					By Sales returns A/c		130
			727				727

It is all about Question 18 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