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.

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

Error Rectification in accounting – Explanation with examples

Also, Check out the same article in Hindi from the following link

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

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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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