Question No 11 Chapter No 17 – T.S. Grewal 11 Class

Question No 11 Chapter No 17

Question No 11 Chapter No 17

11. Rectify the following errors:

(i) Purchases Book has been undercast by 1,000.
(ii) Credit sale to Anu Prakash 7,000 was recorded in Purchases Book.
(iii) Credit sale to Rahul 7,000 was recorded as 700.

The solution of Question No 11 Chapter No 16:-

 

Date   Particulars
L.F. Debit Credit
i Purchases A/c Dr.   1,000  
  To Suspense A/c       1,000
  (Being Purchases Book was undercast by Rs 1,000, now rectified)        
ii Aru Prakash’s A/c Dr.   14,000  
  To Sales A/c       7,000
  To Purchases A/c       7,000
  (Being Sales to Aru Prakash was recorded in Purchases Book, now rectified)        
iii Rahul’s A/c Dr.   6,300  
  To Sales A/c       6,300
  (Being Sales to Rahul Rs 7,000 was recorded as Rs 700, now rectified)        

 

Note: In the book, this transaction is incomplete, thus it has been assumed that ‘Credit sales to Rahul was recorded as Rs 700 instead of Rs 7,000’.

 

 

 

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

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T.S. Grewals Double Entry Book Keeping - Question No 11 Chapter No 17 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

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