Question No 17 Chapter No 10 - Unimax 11 Class

Question No 17 Chapter No 10 – Unimax Class 11

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The solution of Question No 17 Chapter No 10 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

17. A book keeper while balancing his books found that there was a difference of ₹ 86.12 in the trial balance. Being required to prepare the final account he placed this difference to a newly opened suspense account, which was carried forward to the next year when the following errors were discovered:
(a) Goods bought form a merchant ₹ 5.31 had been posted to the credit of his account as ₹ 55.
(b) An item of ₹ 10.63 entered in the sales returns book has been posted to the debit of the customer who retuned the goods.
(c) ₹ 60 owing by a customer has been mitted from the schedule of sundry debtors.
(d) ₹ 2.31 discount received from a creditor had been duly entered in his account, but not posted to discount account.

The solution of Question No 17 Chapter No 10 –

Journal
Date	Particulars		L.F.	Debit	Credit

a.	Merchant’s A/c	Dr.		49.69
	To Suspense A/c				49.69
	(Being goods bought form Merchant of ₹5.31 posted to credit of his a/c, now rectified)
b.	Suspense A/c	Dr.		21.26
	To Customer’s A/c				21.26
	(Being item entered in sales returns book posted to debit of customer a/c, now rectified)
c.	Sundry debtors A/c	Dr.		60
	To Suspense A/c				60
	(Being customer committed to include in sundry debtors, now rectified)

d.	Suspense A/c	Dr.		2.31
	To Discount A/c				2.31
	(Being discount received not posted to discount a/c, now rectified)

Dr.	Suspense A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
	To Balance b/d		52,200		By Purchases A/c		20,000
	To Vasudev A/c		7,800		By Return outward A/c		10,000
					By Return outward A/c		15,000
					By Return inward A/c		15,000
			60,000				60,000

It is all about Question 17 Chapter 10 of Class 11 unimax, If you have any problem please comment below.

Read out the full article to know the meaning of Rectification of Errors

Error Rectification in accounting – Explanation with examples

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Error Rectification in accounting – Explanation with examples-in Hindi

Also, Check out the solved question of all Chapters: –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

Chapter No. 1 – Introduction of Accounting
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Vouchers and Transactions
Chapter No. 4 – Journal
Chapter No. 5 – Goods and Services Tax (GST): An Introduction
Chapter No. 6 – Ledger
Chapter No. 7 – Special Purpose Book – Cash Book
Chapter No. 8 – Other Subsidiary Books
Chapter No. 9 – Trial Balance
Chapter No. 10 – Rectification of Errors
Chapter No. 11 – Depreciation
Chapter No. 12 – Provision and Reserves
Chapter No. 13 – Bank Reconciliation Statement
Chapter No. 14 – Bills of Exchange

Students may choose only one part from the Part II and Part III

Part-II

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Chapter No. 15 – Financial Statements (Without Adjustments)
Chapter No. 16 – Financial Statements (With Adjustments)
Chapter No. 17 – Accounts from Incomplete Records – Single Entry System

Part-III

Chapter No. 18 – Introduction to Computers and Accounting information System
Chapter No. 19 – Computerised Accounting
Chapter No. 20 – Accounting Software: Tally
Chapter No. 21 – Data Base System
Chapter No. 22 – Concept of Entity and Relationship

Question No 17 Chapter No 10 – Unimax 11 Class

The solution of Question No 17 Chapter No 10 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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