Question No 25 Chapter No 16

Question No 25 Chapter No 16

Recertification after the Preparation of Trail Balance but before Final Account

Single Account Errors

25. There were errors in the trial balance of Aanchal Arora on 31st December 2017and the different of Rs 15,800 in the book was carried to the credit of Suspense Account. On going through the books you find that
(i) 5,400 received from Rajiv Arora was posted to the debit of his account. (ii) 1,000 being purchase return was posted to the debit of Purchases Account.
(iii) Discount received 2,000 was posted to Discount Allowed Account.
(iv) 2,740 paid for Repairs to Motor Car was debited to Motor Car Account as 1,740.
(v) 4,000 paid to Sohail was debited to Salman. Give Journal Entries to rectify the above errors and show the Suspense Account.

 

The solution of Question No 25 Chapter No 16:-

Journal
Date  Particulars
L.F.DebitCredit
      
(i)Suspense A/cDr. 10,800 
 To Rajiv A/c   10,800
 (Being amount received from Rajiv being debited to his account instead of credit now corded.)    
      
(ii)Suspense A/cDr. 2,000 
 To Purchases A/c   1,000
 To Purchase return A/c   1,000
 (Being purchase retune posted in purchase account now corded.)    
      
(iii)Suspense A/cDr. 4,000 
 To Discount received A/c   2,000
 To Discount allowed A/c   2,000
 (Being discount received posted in discount allowed account now corded.)    
      
(iv)Suspense A/cDr. 3,480 
 To Motor Car A/c   1,740
 To Suspense A/c   1,740
 (Being acceptance unrecorded in the book now corrected )    
      
(v)R.S. Sanjai A/cDr. 4,000 
 To S. Sanjai A/c   4,000
 (Being amount paid to R.S. Sanjai a debited to S. Sanjai now corded.)    
     

 

Suspense A/c
Cr.
Particulars
J.F.AmountParticulars
J.F.Amount
To Rajiv A/c 10,800   
To Purchases A/c 1,000By Car repair A/c 1,000
To Purchases return A/c 1,000   
To Discount received A/c 2,000   
To Discount allowed A/c 2,000   
   By Balance c/d 15,800
  16,800  16,800

 

 

Error Rectification in accounting – Explanation with examples

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

 

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

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