Question No 47 Chapter No 17 - T.S. Grewal 11 Class

Question No 47 Chapter No 17

47.While trying to close his books for the year ended 31 st March, 2014, Mahesh found that the Trial Balance did not agree. He traced the following errors:
(i) In the Sales Book for the month of January total of Page No. 2 was carried forward to Page No. 3 as 1,000 instead of 1,200 and total of Page No. 6 was carried forward to Page No. 7 as 5,600 instead of 5,000.
(ii) Goods returned to Ram 1,000 were recorded in the Sales Book.
(iii) Bills Receivable for 1,600 from Noor was dishonoured and posted to debit of Allowances Account. Rectify the above errors.

The solution of Question No 47 Chapter No 16:-

Date	Particulars		L.F.	Debit	Credit
i	Sales A/c	Dr.		400
	To Suspense A/c				400
	(Being Sale book was undercasted by Rs 200 and overcastted by Rs 600, now rectified)
ii	Sales A/c	Dr.		1,000
	To Purchases Return A/c				1,000
	(Being Goods Returned to Ram recorded in Sales Book, now rectified)
iii	Noor’s A/c	Dr.		1,600
	To Allowances A/c				1,600
	(Being Bills Receivable from Noor dishonoured and recorded to allowances account, now rectified)

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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