Question No 18 Chapter No 10 - Unimax 11 Class

Question No 18 Chapter No 10 – Unimax Class 11

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The solution of Question No 18 Chapter No 10 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Give journal entries necessary to correct these errors and prepare the suspense account. A trial balance disclosed a difference of ₹ 417, placed on credit side of suspense account. Later on following errors were located. Pass rectifying entries and prepare suspense account.
(a) Goods worth ₹ 200 purchased from Sohan has been posted to his account as ₹ 250.
(b) A purchase of furniture for ₹ 500 was recorded in purchases book.
(c) Instead of crediting Gian’s A/c with ₹ 512’ it was debited with ₹ 215.
(d) Goods worth ₹ 130 returned by G were entered in sales book and posted therefrom to credit of G’s personal A/c.

The solution of Question No 18 Chapter No 10 –

Journal
Date	Particulars		L.F.	Debit	Credit

a.	Sohan’s A/c	Dr.		50
	To Suspense A/c				50
	(Being goods of ₹ 200 purchased from Sohan posted to his a/c as ₹ 250, now rectified)
b.	Furniture A/c	Dr.		500
	To Purchases A/c				500
	(Being furniture purchases recorded in purchases book, now rectified)
c.	Suspense A/c	Dr.		727
	To Gian’s A/c				727
	(Being instead of crediting Gian’s a/c wrongly debited, now rectified)

d.	Sales return A/c	Dr.		130
	Sales A/c	Dr.		130
	To Suspense A/c				260
	(Being goods returned by G entered in sales book, now rectified)

Dr.	Suspense A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
	To Gain’s A/c		727		By Balance b/d		417
					By Sohan’s A/c		50
					By Sales A/c		130
					By Sales returns A/c		130

			727				727

It is all about Question 18 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

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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

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Part-II

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 18 Chapter No 10 – Unimax 11 Class

The solution of Question No 18 Chapter No 10 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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