Problem No 3 Chapter No 10 – Unimax 11 Class

Problem-No-3-Chapter-No-10-Unimax-11

Problem No 3 Chapter No 10 – Unimax Class 11

Free Accounting book Solution - Class 11 and Class 12
The books of Gupta & sons could not be tallied. The accountant transferred the difference of ₹ 2,200 in the suspense account on the debit side. The following mistakes were found later on. 
1. Purchases of ₹ 1,100 from Varun was entered into sales book but his personal account was rightly credited.
2. A purchases of ₹ 1,430 from Ram was credited to his account as ₹ 1,340.
3. Sales of old furniture of ₹ 2,540 was credited to sales account as ₹ 2,450.
4. Goods worth ₹ 400 were taken by the proprietor for his personal use was not recorded in the books.
5. Sales of ₹ 1,296 to Amita was entered in sales books as ₹ 1,269.
6. Sales returns books balances of ₹ 210 was wrongly included as purchases return balance.

The solution of Problem No 3 Chapter No 10 –

Journal
S. No.   Particulars L.F. Debit Credit
           
1 Purchases A/c Dr.   1,100  
  Sales A/c Dr.   1,100  
  To Suspense A/c       2,200
  (Being purchase from Varun entered in his a/c as ₹ 1,340, now rectified)        
2 Suspense A/c   Dr.    90  
  To Ram’s A/c       90
  (Being purchases from Ram ₹ 1,420 entered in his a/c, now rectified)        
3 Sales A/c Dr.   2,450  
  Suspense A/c Dr.   90  
  To Furniture A/c       2,540
  (Being sales of furniture credited to sales book and with wrong amount, now rectified)        
           
4 Drawing A/c Dr.   400  
  To Purchases A/c       400
  (Being goods withdrawn by proprietor omitted to be recorded, now rectified)        
           
5 Amita’s A/c  Dr.   27  
  To Sales A/c       5,000
  (Being sales to Amit of ₹ 1,296 recorded in sales book as ₹ 1,296, now rectified)        
           
6 Sales returns A/c Dr.   210  
  Purchases returns A/c Dr.   210  
  To Suspense A/c     420
  (Being sales return balance wrongly included as purchases returns, now rectified)      

 

Dr. Suspense A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
  To balance b/d   2,200   By purchases A/c   1,100
  To Ram’s A/c   90   By Sales A/c   1,100
  To furniture A/c   90   By Sales return A/c   210
  To Balance c/d       By purchases return A/c   210
      2,620       2,620
          To balance b/d   240

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

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 

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