Question No 44 Chapter No 17 – T.S. Grewal 11 Class

Question No 44 Chapter No 17

Question No 44 Chapter No 17

44. Rectify the following errors:
(i) The total of one page of Sales Book was carried forward as 371 instead of 317.
(ii) 540 received from Yatin was posted to the debit of his Account.
(iii) Purchases Returns Book was overcast by 300.
(iv) An item of 1,062 entered in Sales Return Book had been posted to the debit of customer who returned the goods.
(v) 1,500 paid for furniture purchased had been charged to ordinary Purchase Account.

The solution of Question No 44 Chapter No 16:-

Date   Particulars
L.F. Debit Credit
i Sales A/c Dr.   54  
  To Suspense A/c       54
  (Being One page of Sale Book Rs 317 was wrongly forwarded as Rs 371, now rectified)        
ii Suspense A/c Dr.   1,080  
  To Yatin       1,080
  (Being Received Rs 540 from Yatin posted wrongly to the debit side of his account, now rectified)        
iii Purchases Return A/c Dr.   300  
  To Suspense A/c       300
  (Being Purchases Return Book was overcast, by now rectified)        
iv Suspense A/c Dr.   2,124  
  To Customer       2,124
  (Being Goods return by Customer Rs 1,062 was posted wrongly to the debit of his account, now rectified)        
v Furniture A/c Dr.   1,500  
  To Purchases A/c       1,500
  (Being Amount paid for purchase of Furniture wrongly debited to Purchases Account, now rectified)        

 

 

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

T.S. Grewal’s Double Entry Book Keeping

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