Question No 12 Chapter No 17 – T.S. Grewal 11 Class

Question No 12 Chapter No 17

Question No 12 Chapter No 17

12.Rectify the following errors:
(i) Total of one page of the Sales Book was carried forward to the next page as 2,785 instead of 2,587.
(ii) A cheque of 400 received from Mohan was dishonoured and had been posted to the debit side of the ‘Allowance Account’.
(iii) Return of goods worth 5,000 by a customer was entered in the Purchases Return Book.
(iv) Sum of 200 owed by ‘X’ has been included in the list of Sundry Creditors.
(v) Sale of old furniture worth 430 was credited to the Sales Account as 340.

 

The solution of Question No 12 Chapter No 16:-

 

Date   Particulars
L.F. Debit Credit
i Sales A/c Dr.   198  
  To Suspense A/c       198
  (Being Carry forwarding Rs 2,785 instead of Rs 2,587, now rectified))        
ii Mohan A/c Dr.   400  
  To Allowance A/c       400
  (Being A Cheque received from Mohan was dishonoured but debited wrongly to Allowance’s Account, now rectified)        
iii Sale Return A/c Dr.   5,000  
  Purchases Return A/c Dr.   5,000  
  To Customer / Debtor       10,000
  (Being Goods return by a customer was recorded wrongly to Purchase Return Book, now rectified)        
iv Sundry Creditors Dr.   200  
  Sundry Debtors Dr.   200  
  To X A/c       400
  (Being Amount owed by X was included in Sundry Creditors, now rectified)        
v Sales A/c Dr.   340  
  Suspense A/c Dr.   90  
  To Furniture A/c       430
  (Being Sale of Old furniture Rs 430 was wrongly debited to Sales Account for Rs 340, 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

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T.S. Grewals Double Entry Book Keeping - Question No 12 Chapter No 17 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

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