Question No 03 Chapter No 16
Rectification Before the preparation of the trial balance
03. Rectify the following errors which are detected before preparing the trial balance:
- Building purchased for Rs 5,000 was not posted to the building account
- Furniture purchased for Rs 18,000 was posted to the credit of the furniture account
- Typewriter purchased for Rs 14,500 was posted to the credit side of typewriter account with Rs 15,400
- Discount allowed Rs 300 to Nirmal Kaur was not posted to her account
- Discount allowed Rs 350 to Harish was not posted to discount account
- Discount allowed Rs 480 to Raghbir Singh was posted to discount account as RS 840
The solution of Question No 03 Chapter No 16:-
| (a) | An amount of Rs 5,000 should be posted on the debit side of the building account i.e. To cash A/c |
| (b) | An amount of Rs 36,000 should be posted on the debit side of the furniture account |
| (c) | An amount of Rs 29,900 (14,500 + 15,400) should be posted on the debit side of the typewriter account |
| (d) | An amount of Rs 300 should be credited to Harpreet. |
| (e) | Discount allowed account should be debited with Rs 350 |
| (f) | Discount allowed account should be credit with Rs 360 (840-4480) |
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Also, Check out the solved question of all Chapters: –
Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
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Chapter No. 4 – Vouchers and transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
Chapter No. 11 – Trial Balance
Chapter No. 12 – Bank Reconciliation Statement
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Chapter No. 14 – Provisions and Reserves
Chapter No. 15 – Bills of Exchange
Chapter No. 16 – Rectification of Errors
Chapter No. 17 – Financial Statements – (Without Adjustments)