Question No 27 Chapter No 10 - Unimax 11 Class

Question No 27 Chapter No 10 – Unimax Class 11

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The solution of Question No 27 Chapter No 10 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

27 A book-keeper while balance his books finds that he is out excess credit ₹ 88. Being required to prepare the final accounts, he place the difference to a newly opened suspense account while he carried froward to the next year. The following mistakes were discovered.
(1) Goods bought from a merchant amount to ₹ 5 had been posted to the credit of his account as ₹ 55.
(2) A dishonoured bill of exchange received for ₹ 200 returned by the bank has been credited to the bank A/c and debited to B/R A/c.
(3) An item of ₹ 10 entered in the sales return book had been posted to then debit of the customer who returned the goods.
(4) Sundry items of plant sold amount to₹ 260 had been entered in the sales day book.
(5) An amount of ₹ 60, owing by a customer had been omitted from the schedule of sundry debtors.
(6) Discount amounting to ₹ 2 from a creditor had been duly entered in his account but not posted to discount A/c

The solution of Question No 27 Chapter No 10 –

Journal

Date	Particulars			L.F.	Debit	Credit

1	Merchant’s A/c	Dr.			50
	To Sales A/c					2,500
	(Being goods bought from Merchant of ₹ 05 posted to credit of his a/c as ₹ 55, now rectified)
2	Debtors A/c	Dr.			200
	To Bills receivable A/c					200
	(Being bill receivable dishonoured & credited to Bank & debit of B/R now rectified)
3	Suspense A/c	Dr.			20
	To Customer’s A/c					20
	(Being goods returned by customer entered in debit of his a/c, now rectified)

4	Sales A/c	Dr.			260
	To Plant A/c					260
	(Being plant sold entered in sales book, now rectified)

5	Sundry debtors A/c		Dr.		60
	To Suspense A/c					60
	(Being customer not entered in sundry debtors, now rectified)

6	Suspense A/c		Dr.		2
	To discount A/c					2
	(Being discount from a credit entered in his account but 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		88		By Machinery A/c		50
	To Customer A/c		20		By Sundry debtors A/c		60
	To Discount A/c		02

			110				110

It is all about Question 27 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

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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

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 27 Chapter No 10 – Unimax 11 Class

The solution of Question No 27 Chapter No 10 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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