Question No 8 Chapter No 10 – Unimax 11 Class

Posted by By Rajan Suman 6 Min Read May 27, 2022
Question No 8 Chapter No 10 - Unimax 11 Class
Question No 8 Chapter No 10 - Unimax 11 Class

Question No 8 Chapter No 10 – Unimax Class 11

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.

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: –

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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

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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