Question No 33 Chapter No 17 – T.S. Grewal 11 Class

Question No 33 Chapter No 17

Question No 33 Chapter No 17

33. You are presented with a Trial Balance showing a difference which has been carried to the Suspense Account and the following errors are revealed: (i) 1,700 paid in cash for an office equipment was charged to Office Expenses Account.
(ii) A cash sale of 5,000 to Black, correctly entered in the Cash Book, was posted to the credit of Black’s Account in the Ledger.
(iii) Goods amounting to 800, returned by Blue, were entered in the Sales Book and posted therefrom to the credit of Blue’s Account.
(iv) Furniture purchased for 8,100 was posted to Furniture Account as 810. (v) Goods amounting to 10,000 sold to Red were correctly entered in Sales Book but posted to Red’s Account for 18,000.
(vi) Sales Return Book was overcast by 100. You are required to pass the necessary rectification entries in respect of the above.

The solution of Question No 33 Chapter No 16:-

Date   Particulars
L.F. Debit Credit
i Typewriter A/c Dr.   1,700  
  To Office Expenses A/c       1,700
  (Being Purchase of Typewriter was wrongly charged to Office Expense Account, now rectified        
ii Black A/c Dr.   5,000  
  To Sales A/c       5,000
  (Being Cash Sale to Black was entered in the Cash Book but was wrongly posted to the credit of Black’s Account, now rectified)        
iii Sales Return A/c Dr.   800  
  Sales A/c Dr.      
  To Suspense A/c       800
  (Being Goods returned by Blue was wrongly entered in the Sales Book but correctly posted in Blue’s Account, now rectified)        
iv Furniture A/c Dr.   7,290  
  To Suspense A/c       7,290
  (Being Furniture purchased posted as 810 instead of 8,100, now rectified)        
v Suspense A/c Dr   8,000  
  To Red A/c       8,000
  (Being Goods sold to Red Rs 10,000 was entered in Sales book but posted in Red A/c Rs 18,000, now rectified)        
vi Suspense A/c Dr.   100  
  To Sales Return A/c       100
  (Being Sales Return book was over cast)        

 

 

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 33 Chapter No 17 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

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