Question No 25 Chapter No 17 – T.S. Grewal 11 Class

Question No 25 Chapter No 17

Question No 25 Chapter No 17

25.Rectifying the following errors:
(i) Sales Book has been totalled 1,000 short.
(ii) Goods worth 1,500 returned by Green & Co. have not been recorded anywhere.
(iii) Goods purchased worth 2,500 have been posted to the debit of the supplier, Gupta & Co.
(iv) Furniture purchased from Gulab & Co. worth 10,000 has been entered in Purchases Book.
(v) Cash received from A 2,500 has not been posted in his account.

The solution of Question No 25 Chapter No 16:-

 

Date   Particulars
L.F. Debit Credit
i Suspense A/c Dr.   1,000  
  To Sales A/c       1,000
  (Being Sales Book was undercast, now rectified)        
ii Sales Return A/c Dr.   1,500  
  To Green & Co       1,500
  (Being Goods returned by Green & Co was not recorded, now recorded)        
iii Suspense A/c Dr.   5,000  
  To Gupta & Co       5,000
  (Being Goods purchased of Rs 2,500 from Gupta & Co was wrongly debited to his account, now rectified        
iv Furniture A/c Dr.   10,000  
  To Purchases A/c       10,000
  (Being Purchase of goods Rs 10,000 was debited wrongly to Purchases Book, now rectified)        
v Suspense A/c Dr   2,500  
  To A A/c       2,500
  (Being Cash received from A was not posted to his account, 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 25 Chapter No 17 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

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