Question No 14 Chapter No 17 – T.S. Grewal 11 Class

Question No 14 Chapter No 17

Question No 14 Chapter No 17

14.Correct the following errors in Mohan Lal’s Book:
(i) Payment of 5,000 for salaries (to Mr. Ram) has been posted twice to the Salaries Account.
(ii) 750 received from Rajesh are entered on the debit side of the Cash Book. No posting was done in Rajesh’s Account.
(iii) Sales Book was overcast by 3,000.
(iv) Goods (Cost 2,000, Sales Price 2,500) distributed as free simples among prospective customers were not recorded anywhere.

 

The solution of Question No 14 Chapter No 16:-

 

Date   Particulars
L.F. Debit Credit
i Suspense A/c Dr.   5,000  
  To Salaries A/c       5,000
  (Being Payment of Salaries Rs 5,000 was posted twice wrongly in Salaries Account, now rectified)        
ii Salaries A/c Dr.   750  
  To Rajesh       750
  (Being Received Rs 750 from Rajesh was omitted to be posted his account, now rectified))        
iii Sales A/c Dr.   3,000  
  To Suspense A/c       3,000
  (Being Sales was overcast, now rectified)        
iv Advertisement A/c Dr.   2,000  
  To Purchases A/c       2,000
  (Being Goods distributed as free sample were not recorded, now recorded)        

 

 

 

 

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 14 Chapter No 17 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

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