Question No 19 Chapter No 17 - T.S. Grewal 11 Class

Question No 19 Chapter No 17

19.Rectify the following errors:
(i) A purchase of 5,000 from Ram was omitted to be entered in the Purchases Book.
(ii) A credit sale of 257 to Mers Goodluck & Co. was recorded as 275.
(iii) Purchase of office furniture for 500 from Salwan Furnitures was entered through the Purchases Book.
(iv) Rent paid to Landlord 500 was debited to his Personal Account.
(v) A debt balance of 2,000 on the Personal Account of Mr. John (correctly shown in the Ledger) has been omitted when extracting a Trial Balance.

The solution of Question No 19 Chapter No 16:-

 

Date	Particulars		L.F.	Debit	Credit
i	Purchases A/c	Dr.		5,000
	To Ram				5,000
	(Being Purchases from Ram was omitted to be recorded, now recorded)
ii	Sales A/c	Dr.		18
	To M/s Good luck & Co				18
	(Being Sale of Goods Rs 257 to M/s Goodluck & Co was wrongly recorded as Rs 275, now rectified)
iii	Office Furniture A/c	Dr.		500
	To Purchase A/c				500
	(Being Purchases of Office furniture was wrongly recorded to Purchases Account, now rectified)
iv	Rent A/c	Dr.		500
	To Landlord				500
	(Being Rent paid was debited wrongly to Landlord Account, now rectified)

 

v. Drawing Account Rs 2,000 will be shown in the debit column of Trial Balance

 

 

https://tutorstips.com/error-rectification/

Thanks, Please Like and share with your friends  

Comment if you have any question.

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

Check out T.S. Grewal +1 Book 2019 @ Official Website of Sultan Chand Publication