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Question No 40 Chapter No 10 – Unimax 11 Class

Question-No-40-Chapter-No-10-Unimax-11-Class
Question-No-40-Chapter-No-10-Unimax-11-Class

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Question No 40 Chapter No 10 – Unimax Class 11

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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  ParticularsL.F.DebitCredit
      
a.Suspense A/cDr 800 
 To Sales returns A/c   800
 (Being sales returns book overcasted, now rectified)    
b.Sahu’s A/cDr  2,000 
 To Suspense A/c   2,000
 (Being purchases return to Sahu not posted, now rectified)    
c.Purchases A/cDr 4,000 
 To Narula A/c   4,000
 (Being goods purchases on credit from Narula not recorded in books, now rectified)    
d.Machinery A/cDr 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/cDr 1,400 
 To Rent A/c   1,000
 To Suspense A/c   400
 (Being cash withdrawn for paying rent of residence)    
      
    8,7008,700
Dr.Suspense A/cCr.
DateParticulars
J.F.AmountDateParticulars
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

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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

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

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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

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