Question No 01 Chapter No 17 - T.S. Grewal 11 Class

Question No 01 Chapter No 17

How will be the following errors rectified?
(i) Purchases Book is overcast by 10,000.
(ii) Purchases Return Book is overcast by 1,000.
(iii) Purchases Return Book’s balance is carried forward in excess by 100. (iv) Purchases Book’s balance is carried forward in excess by 1,000.

The solution of Question No 01 Chapter No 16:-


Date	Particulars		L.F.	Debit	Credit
i	Suspense A/c	Dr.		10,000
	To Purchases A/c				10,000
	(Being Purchase book was overacted by Rs 10,000, now rectified)
ii	Purchases Return A/c	Dr.		1,000
	To Suspense A/c				1,000
	(Being Purchase return book was overacted by Rs 1,000, now rectified)
iii	Purchases Return A/c	Dr.		100
	To Suspense A/c				100
	(Being Purchase return book’s balance was carried forward in excess of Rs 100, now rectified)
iv	Suspense A/c	Dr.		1,000
	To Purchases A/c				1,000
	(Being Purchase book’s balance was carried forward in excess of Rs 1,000, now rectified)

Error Rectification in accounting – Explanation with examples

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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