Question No 34 Chapter No 10 - Unimax 11 Class

Question No 34 Chapter No 10 – Unimax Class 11

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The solution of Question No 34 Chapter No 10 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

34 Rectify the following errors assuming that suspense account was opened. Ascertain the difference in trial balance.
(a) Furniture purchases for ₹ 10,000 wrongly debited to Purchases account as ₹ 4,000.
(b) Machinery purchases on credit form Raman for ₹ 20,000 recorded through purchases book as ₹ 6,000.
(c) Repair on machinery ₹ 1,400 debited to machinery account as ₹ 2,400.
(d) Repair on overhauling of second hand machinery purchases ₹ 2,000 was debited to Repairs account as ₹ 200.
(e) Sales of old machinery at book value ₹ 3,000 was credited to sales account as ₹ 5,000.

The solution of Question No 34 Chapter No 10 –

Journal

Date	Particulars		L.F.	Debit	Credit

a.	Furniture A/c	Dr		10,000
	To Purchases returns A/c				4,000
	To Suspense A/c				6,000
	(Being furniture purchases debited to purchases a/c with wrong amount, now rectified)
b.	Machinery A/c	Dr		20,000
	To Purchases A/c				6,000
	To Suspense A/c				14,000
	(Being machinery purchases on credit passed through purchases book with wrong amount, now rectified)

c.	Repair A/c	Dr		1,400
	Suspense A/c	Dr		1,000
	To Purchases A/c				2,400
	(Being repair to machinery debited to machinery a/c with wrong amount, now rectified)

d.	Machinery A/c	Dr		2,000
	To Repair A/c				200
	To Suspense A/c				1,800
	(Being overhauling expenses on second hand machinery entered in repair wrongly, now rectified)

e.	Sales A/c	Dr		5,000
	To Machinery A/c				3,000
	To Suspense A/c				2,000
	(Being sales of machinery credited to sales a/c wrongly with wrong amount, now rectified)
				39,400	39,400

Dr.	Suspense A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
	To Different in trial balance		22,800		By Furniture A/c		6,000
	To Machinery A/c		1000		To Machinery A/c		14,000
					To Machinery A/c		1,800
					To Sales A/c		2,000
			23,800				23,800

It is all about Question 34 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 34 Chapter No 10 – Unimax 11 Class

The solution of Question No 34 Chapter No 10 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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