Question No 8 Chapter No 10 - Unimax 11 Class

Question No 8 Chapter No 10 – Unimax Class 11

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The solution of Question No 8 Chapter No 10 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

8 Give journal entries to correct these errors and prepare the suspense account. How would you rectify the following errors?

(1) Amount received from A ₹ 200 is debited to his account in ledger.
(2) Purchases book is overcast by ₹ 100.
(3) ₹ 500 paid for furniture purchases charged to purchases account.
(4) Goods returned by a customer are valued at ₹ 97 but in the returns inward book the amount is wrongly entered ₹ 79.
(5) A sum of ₹ 600 paid by way of rent has been debited to landlord’s personal account.

The solution of Question No 8 Chapter No 10 –

Journal
Date	Particulars		L.F.	Debit	Credit
2019
Dec.31
1	Suspense A/c	Dr.		400
	To A’s A/c				400
	(Being received from A is debited to his a/c, now rectified)
2	Suspense A/c	Dr.		100
	To Purchases A/c				100
	(Being purchases book overcast, now rectified)
3	Furniture A/c	Dr.		500
	To Purchases A/c				500
	(Being furniture purchases charged to purchases a/c, now rectified)

4	Returns inwards A/c	Dr.		18
	To Customer’s A/c				18
	(Being goods returned by customer of ₹ 97 but recorded as ₹ 79, now rectified)

5	Rent A/c	Dr.		600
	To Landlord’s A/c				600
	(Being rent debited to landlord’s a/c, now rectified)

Dr.	Suspense A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
	To A’s A/c		400		By Difference in suspense A/c		500
	To Purchases A/c		100

			500				500

It is all about Question 8 Chapter 10 of Class 11 unimax, If you have any problem please comment below.

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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

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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

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 8 Chapter No 10 – Unimax 11 Class

The solution of Question No 8 Chapter No 10 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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