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Question No 7 Chapter No 10 – Unimax 11 Class

Question-No-7-Chapter-No-10-Unimax-11-Class
Question-No-7-Chapter-No-10-Unimax-11-Class

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Question No 7 Chapter No 10 – Unimax Class 11

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7. An accountant while balancing his books found that there was a difference (excess credit) of ₹ 860 in the trial balance. The difference was placed in the Suspense account and books were closed. The following errors were disclosed afterward:

  1. ₹ 3,000 sales proceeds of old machinery had been posted to the sales account.
  2. ₹ 30 discount allowed by Rizvi was shown in his account, but not posted in the discount account.
  3. A sum of ₹ 640 owed by Mohan had not been included in the list of debtors.
  4. Account of Sukhram had been debited with ₹ 100 on account of goods returned by him.
  5. Goods worth ₹ 50 purchased from Ramratan had been shown on the credit side of his account as ₹ 500.

The solution of Question No 7 Chapter No 10 –

 Journal
Date  ParticularsL.F.DebitCredit
      
a.Sales A/cDr. 3,000 
 To Machinery A/c   3,000
 (Being sales of old machinery posted to sales a/c, now rectified)    
      
b.Suspense A/c  Dr.  30 
 To Discount A/c   30
 (Being discount allowed by Rizvi not posted discount a/c, now rectified)    
      
c.Debtors A/cDr. 640 
 To Suspense A/c   640
 (Being Mohan not included in the list of debtors, now rectified)    
      
d.Suspense A/cDr. 200 
 To Sukhram’s A/c   200
 (Being a/c of Sukhram debited on account of goods returned by him, now rectified)    
      
e.Ram Nathan’s A/c Dr. 450 
 To Suspense A/c   450
 (Being goods purchases of ₹ 50, shown credit side his a/c, now rectified)   

It is all about Question 7 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 

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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

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 

 

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