Question No 03 Chapter No 16

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:

  1. Building purchased for Rs 5,000 was not posted to the building account
  2. Furniture purchased for Rs 18,000 was posted to the credit of the furniture account
  3. Typewriter purchased for Rs 14,500 was posted to the credit side of typewriter account with Rs 15,400
  4. Discount allowed Rs 300 to Nirmal Kaur was not posted to her account
  5. Discount allowed Rs 350 to Harish was not posted to discount account
  6. 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)

Error Rectification in accounting – Explanation with examples

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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. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

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)

Chapter No. 18 – Financial Statements – (With Adjustments)

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