Question No 39 Chapter No 17 - T.S. Grewal 11 Class

Question No 39 Chapter No 17

39.Rectify the following errors by means of Journal entries:
(i) A cheque of 5,000 received from Ashish was dishonoured and was debited to Discount Account.
(ii) Purchases of 540 from Ramneek was written in Sales Book but was correctly posted to correct side to Ramneek's Account.
(iii) Salary paid to Miss Yugakshi 1,000 was debited to her Personal Account as 900.
(iv) Furniture costing 500, purchased from Jyoti, was wrongly entered in Purchases Book as 450.

The solution of Question No 39 Chapter No 16:-

Date	Particulars		L.F.	Debit	Credit
i	Ashish A/c	Dr.		5,000
	To Discount A/c				5,000
	(Being Ashish’s cheque was debited to Discount Account, now rectified)
ii	Purchases A/c	Dr.		540
	Sales A/c	Dr.		540
	To Suspense A/c				1,080
	(Being Bought goods from Ramneek was recorded in Sales Book and Credited to his account, now rectified)
iii	Salary A/c	Dr.		1,000
	To Yugakshi				900
	To Suspense A/c				100
	(Being Gian’s Account was debited by Rs 215 Instead of Crediting Rs 512, now rectified
iv	Furniture A/c	Dr.		500
	To Purchase A/c				450
	To Suspense A/c				50
	(Being Purchase of Furniture Rs 500 was posted to Purchase Book Rs 450, now rectified)

 

Dr.	Suspense Account						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
(i)	Commission		727		Balance b/d		720
(ii)	Personal Account		620
			720				720

 

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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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