Question No 23 Chapter No 16 - USHA Publication 11 Class

Question No 23 Chapter No 16

Recertification after the Preparation of Trail Balance but before Final Account

Single Account Errors

23. The Book-Keeper of Amritsar Fast Food Centre having failed to agree the Trial Balance transferred the excess of credit over the debit to Suspense Account. The difference was ?. 120. The following errors were subsequently discovered :
(a) A cheque of Rs 650 received from Amrit having been dishonoured was wrongly debite to Allowances Account.
(b) The discount colum of Cash Book representing discount allowed to customers for the month of December was over added by Rs 120.
(c) Sales Returns of Rs 200 from Babu Ram was omitted to be posted to his account.
(d) The credit side of Kunal's account had been overcast by Rs 40.
(e) Cash sales Rs 800 has been recorded in the sales book.
(f) The total of Purchase Book was undercast by Rs 400.
(g) Purchase Returns Rs 1,000 to Meera was omitted from books.
Rectify the above errors and prepare a Suspense Account.

 

The solution of Question No 23 Chapter No 16:-

Journal

Date	Particulars		L.F.	Debit	Credit
(a)	Amit A/c	Dr.		650
	To Allowance A/c				650
	(Being cheque dishonoured wrongly debited to allowance account now corded.)
(b)	Suspense A/c	Dr.		120
	To Discount allowed A/c				120
	(Being discount overacted now corded.)
(c)	Suspense A/c	Dr.		200
	To Babu Ram A/c				200
	(Being sale retune omitted from being posted in a personal account now corded.)
(d)	Kunal A/c	Dr.		40
	To Suspense A/c				40
	(Being Kunal account being over cast now corrected )
(e)	Cash A/c	Dr.		800
	To Suspense A/c				800
	(Being cash sale being treated as credit sale.)
(f)	Purchases A/c	Dr.		400
	To Suspense A/c				400
	(Being purchases book over cash now corded.)
(g)	Meera A/c	Dr.		1,000
	To Purchases return A/c				1,000
	(Being purchases retune omitted for Book now corded.)

 

Suspense A/c					Cr.
Particulars	J.F.	Amount	Particulars	J.F.	Amount
To Discount A/c		120	By Kunal A/c		40
To babu Ram A/c		200	By Purchase A/c		400
To Balance c/d		120
		440			440

 

 

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 all Chapters: –

Usha Publication - Elements of Book-Keeping PSEB (Class 11) - Solution

Chapter No. 1 - Introduction

Chapter No. 2 - Theory Base of Accounting 

Chapter No. 3 - Origin of Transactions

Chapter No. 4 - Vouchers and transactions

Chapter No. 5 - Journal

Chapter No. 6 - Accounting for Goods and Services Tax(GST)

Chapter No. 7 - Ledger

Chapter No. 8 - Cash Book

Chapter No. 9 - Other Subsidiary Books

Chapter No. 10 - Journal Proper

Chapter No. 11 - Trial Balance

Chapter No. 12 - Bank Reconciliation Statement

Chapter No. 13 - Depreciation

Chapter No. 14 - Provisions and Reserves 

Chapter No. 15 - Bills of Exchange

Chapter No. 16 - Rectification of Errors 

Chapter No. 17 - Financial Statements - (Without Adjustments)

Chapter No. 18 - Financial Statements - (With Adjustments)