Question No 10 Chapter No 10

Question No 10 Chapter No 10

10. You Have been Supplied the following figure:

Return outwards6,500
Opening stock1,50,000
Carriage Inwards4,500
Carriage outwards1,000
Bank (Cr.)48,000
Bills Receivable5,000

Subsequently, the following and errors were discovered

  1. The figure for wages should have been Rs 23,000
  2. The figure for repairs has been understated by Rs 2,000
  3. Purchase of new motor van for Rs 2,50,000 had been included in the purchases account
  4. The total of return inwards book amounting to Rs 15,000 had been omitted to be recorded
  5. Debtors balance amounting to Rs 2,31,000 had not been included, nor had the credit balance
    Drew up a corrected Trail Balance after including the amount of creditor which had been omitted.

The solution of Question No 10 Chapter No 10: –

Trail Balance A/c
Capital A/c  3,00,000
Drawing A/c 36,000 
Wages A/c 23,000 
Expenses A/c 15,000 
Repairs A/c 10,000 
Return Outwards A/c  6,500
Purchases A/c 3,70,000 
Sales A/c  7,50,000
Opening Stock A/c 1,50,000 
Carriage Inwards A/c 4,500 
Carriage Outwards A/c 1,000 
Cash A/c 22,000 
Bank A/c (Cr.)  48,000
Furniture A/c 30,000 
Bills Receivable A/c 5,000 
New Motor Car A/c 2,50,000 
Debtors A/c 2,31,000 
Return Inwards A/c 15,000 
Creditor A/c  58,000

What is Ledger in accounting – explain its Types

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D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

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