Question No 25 Chapter No 17 - T.S. Grewal 11 Class

Question No 25 Chapter No 17

25.Rectifying the following errors:
(i) Sales Book has been totalled 1,000 short.
(ii) Goods worth 1,500 returned by Green & Co. have not been recorded anywhere.
(iii) Goods purchased worth 2,500 have been posted to the debit of the supplier, Gupta & Co.
(iv) Furniture purchased from Gulab & Co. worth 10,000 has been entered in Purchases Book.
(v) Cash received from A 2,500 has not been posted in his account.

The solution of Question No 25 Chapter No 16:-

 

Date	Particulars		L.F.	Debit	Credit
i	Suspense A/c	Dr.		1,000
	To Sales A/c				1,000
	(Being Sales Book was undercast, now rectified)
ii	Sales Return A/c	Dr.		1,500
	To Green & Co				1,500
	(Being Goods returned by Green & Co was not recorded, now recorded)
iii	Suspense A/c	Dr.		5,000
	To Gupta & Co				5,000
	(Being Goods purchased of Rs 2,500 from Gupta & Co was wrongly debited to his account, now rectified
iv	Furniture A/c	Dr.		10,000
	To Purchases A/c				10,000
	(Being Purchase of goods Rs 10,000 was debited wrongly to Purchases Book, now rectified)
v	Suspense A/c	Dr		2,500
	To A A/c				2,500
	(Being Cash received from A was not posted to his account, 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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