Question No 7 Chapter No 10 - Unimax 11 Class

Question No 7 Chapter No 10 - Unimax Class 11

7. An accountant while balancing his books found that there was a difference (excess credit) of ₹ 860 in the trial balance. The difference was placed in the Suspense account and books were closed. The following errors were disclosed afterward:

1. ₹ 3,000 sales proceeds of old machinery had been posted to the sales account.
2. ₹ 30 discount allowed by Rizvi was shown in his account, but not posted in the discount account.
3. A sum of ₹ 640 owed by Mohan had not been included in the list of debtors.
4. Account of Sukhram had been debited with ₹ 100 on account of goods returned by him.
5. Goods worth ₹ 50 purchased from Ramratan had been shown on the credit side of his account as ₹ 500.

The solution of Question No 7 Chapter No 10 -

Journal

Date	Particulars			L.F.	Debit	Credit
a.	Sales A/c	Dr.			3,000
	To Machinery A/c					3,000
	(Being sales of old machinery posted to sales a/c, now rectified)
b.	Suspense A/c	Dr.			30
	To Discount A/c					30
	(Being discount allowed by Rizvi not posted discount a/c, now rectified)
c.	Debtors A/c	Dr.			640
	To Suspense A/c					640
	(Being Mohan not included in the list of debtors, now rectified)
d.	Suspense A/c	Dr.			200
	To Sukhram’s A/c					200
	(Being a/c of Sukhram debited on account of goods returned by him, now rectified)
e.	Ram Nathan’s A/c	Dr.			450
	To Suspense A/c					450
	(Being goods purchases of ₹ 50, shown credit side his a/c, now rectified)

It is all about Question 7 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