Problem No 4 Chapter No 10 – Unimax 11 Class

Problem-No-4-Chapter-No-10-Unimax-11-Class
Problem-No-4-Chapter-No-10-Unimax-11-Class

Problem No 4 Chapter No 10 – Unimax Class 11

A bookkeeper while preparing his trial balance find that the total debit side axceeds by ₹ 7,250.
Being desired to prepare the final accounts, he place the difference to a Suspense account. In the next year, the following mistakes were discovered:
(a) A sales of ₹ 4,000 has been passed through the purchases day book. The entry in customer, account has been correctly recorded.
(b) Goods worth ₹ 2,500 taken away by the proprietor for his personal use been debited to repair account.
(c) A bill received for ₹ 1,300 received from Krishna has been dishonoured on due date but no entry was debited.
(d) Salary ₹ 650 paid to a clerk has been debited to his personal a/c.
(e) A purchases of ₹ 750 from Raghubir has been debited to his a/c. purchases a/c has been correctly debited.
(f) A sum of ₹ 2,250 written of as depreciation on furniture has not been debited to depreciation a/c.
Draft the journal entries for rectifying the above mistakes and prepare suspense a/c. also show profit and loss adjustment a/c. 

The solution of Problem No 3 Chapter No 10 –

Journal
S. No.   Particulars L.F. Debit Credit
           
(a) Suspense A/c Dr.   8,000  
  To P & L adjustment A/c       8,000
  (Being sales passed through purchases book, now rectified)        
(b) Drawing A/c   Dr.    2,500  
  To P & L adjustment A/c       2,500
  (Being goods taken by proprietor wrongly debited to repairs a/c, now rectified)        
(c) Krishna A/c Dr.   1,300  
  To Bill receivable A/c       1,300
  (Being bills receivable of Krishna has been dishonoured but no entry is passed, now rectified)        
           
(d) P & L adjustment A/c Dr.   650  
  To Clerk A/c       650
  (Being salary paid to clerk, debited to his personal a/c, now rectified)        
           
(e) Suspense A/c  Dr.   1,500  
  To Raghubir’s A/c       1,500
  (Being goods purchases from Raghubir posted to Dr. of his a/c, now rectified)        
           
(f) P & L adjustment A/c Dr.   2,250  
  To Suspense A/c     2,250
  (Being depreciation on furniture has not been debited to depreciation a/c, now rectified)      

 

Dr. Suspense A/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
  To P & L adjustment A/c   8,000   By Balance b/d   7,250
  To Raghubir A/c   1,500   By P & L adjustment A/c   2,250
               
      9,500       9,500

 

   
To Clerk A/c 650 By Suspense A/c 8,000
To Suspense A/c 2,250 By Drawing A/c 2,500
To Balance being profit transferred to capital A/c 7,600    
       
  10,500   10,500

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

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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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