Chapter No. 10 – Rectification of Errors – Unimax Publications Class 11 – 2021 – Solution

In this article, we have provided the Question wise solution to all Questions of Chapter No. 10 – Rectification of Errors – Unimax Publications Class 11 – 2021 But first of all, we have explained the meaning of Error Rectification in accounting:-

Error Rectification in accounting

An error means a mistake. When we are doing some work here a number of chances to do mistakes also. So, while an accountant is recording, posting or balancing the ledger account there are numbers of chances that he did a mistake in his work this type of mistake is known as an accounting error. The process of rectifying these mistakes is known as error rectification.

The trial balance is prepared to check the arithmetical accuracy of recording the transactions in the journal, posting them to the ledger and balancing ledger accounts. When the trial balance is agreed then it is assumed that the all process of journalizing, posting and balancing has no error. If the trial balance is not agreed then it is means there are errors in any above-said processes and efforts are made to detect an error.

But the agreement of trial balance is not the proof of all error-free accounting there is some type of errors which will not affect the total trial balance. For example, Non-recording of the whole transactions in the books, will not affect the total of the trial balance because we recorded neither debit nor credit. So, we can divide all errors into two main headings, i) Error which is revealed by the trial balance and, ii) Error which is not revealed by the trial balance.

Check out the full article: –

Bank Reconciliation Statement | Process | Illustration |

Also, Check out the same article in Hindi from the following link

Bank Reconciliation Statement | Process | Illustration – in Hindi

Chapter No. 10 – Rectification of Errors – Unimax Publications Class 11 – 2021 – Solution

Question wise solutions to all Questions of Chapter No. 10 – Rectification of Errors – Unimax Publications Class 11 – 2021 are shown below:

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