Question No 40 Chapter No 10 - Unimax 11 Class

Question No 40 Chapter No 10 – Unimax Class 11

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The solution of Question No 40 Chapter No 10 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

40 Trial balance of Madan did not agee and he put the difference to suspense account. He discovered the following errors:
(a) Sales return book overcast by ₹ 800.
(b) Purchases return to Sahu ₹ 2,000 were not posted.
(c) Goods purchases on credit from Narula ₹ 4,000 through taken into stock, but no entry was passed in the books.
(d) Installation charges on new machinery purchased ₹ 500 were debited to sundry expense account as ₹ 50.
(e) Rent paid for residential accommodation of Madah (the proprietor) ₹ 1,400 was debited to rent account as ₹ 1,000.
(f) Rectify the errors and prepare suspense account to ascertain the difference in trial balance.

The solution of Question No 40 Chapter No 10 –

Journal
Date	Particulars		L.F.	Debit	Credit

a.	Suspense A/c	Dr		800
	To Sales returns A/c				800
	(Being sales returns book overcasted, now rectified)
b.	Sahu’s A/c	Dr		2,000
	To Suspense A/c				2,000
	(Being purchases return to Sahu not posted, now rectified)
c.	Purchases A/c	Dr		4,000
	To Narula A/c				4,000
	(Being goods purchases on credit from Narula not recorded in books, now rectified)
d.	Machinery A/c	Dr		500
	To Sundry expense A/c				50
	To Suspense A/c				450
	(Being installation expenses of machinery debited wrongly to sundry expenses a/c, now rectified)
e.	Drawing A/c	Dr		1,400
	To Rent A/c				1,000
	To Suspense A/c				400
	(Being cash withdrawn for paying rent of residence)

				8,700	8,700

Dr.	Suspense A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
	To Different in trial balance		2,050		By Sahu’s A/c		2,000
	To Sales returns A/c		800		By Machinery A/c		450
					By Drawing A/c		400

			2,850				2,850

It is all about Question 40 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

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

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

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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 40 Chapter No 10 – Unimax 11 Class

The solution of Question No 40 Chapter No 10 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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