Download App

Trial Balance and Rectification of Errors — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountTrial Balance and Rectification of Errors6 Marks
Question
Pass Journal Entries to rectify the following errors:-
  1. Machinery purchased for ₹ 5,000 has been debited to Purchases A/c.
  2. ₹ 700 paid to Sh. Mohan Kapoor as Legal Charges were debited to his personal account.
  3. ₹ 10,000 paid to Escorts Company for Machinery purchased stand debited to Escorts Company account.
  4. Typewriter purchased for ₹ 6,000 was wrongly passed through purchase book.
  5. ₹ 20,000 paid for the purchase of a Motor Cycle for proprietor has been charged to 'General Expenses' A/c.
  6. ₹ 15,000 paid for the purchase of 'Gas Engine' were debited to 'Purchases' A/c.
  7. Cash paid to Ram ₹ 400 was debited to the account of Shyam.
✓

Answer

Get the step-by-step solution for this question inside the Vidyadip app.

Get the answer in the app

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "6 Marks Question" from Trial Balance and Rectification of Errors→Trial Balance and Rectification of Errors — all question types→Account STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

Rectify the following errors assuming that a suspense account was opened. Ascertain the difference in trial balance.
  1. Credit sales to Mohan ₹ 7,000 were posted to the credit of his account.
  2. Credit purchases from Rohan ₹ 9,000 were posted to the debit of his account as ₹ 6,000.
  3. Goods returned to Rakesh ₹ 4,000 were posted to the credit of his account.
  4. Goods returned from Mahesh ₹ 1,000 were posted to the debit of his account as ₹ 2,000.
  5. Cash sales ₹ 2,000 were posted to the debit of sales account as ₹ 5,000.
→
Enter the following transactions in a Single Column Cash Book∶
2016
 
(₹)
May 1
Commenced business with Cash
25,000
May 3
Bought goods for Cash
10,000
May 3
Paid Carriage
200
May 4
Sold goods for Cash
6,000
May 10
Received from Ram
1,000
May 12
Paid to Shiv Kumar
2,600
May 15
Cash Sales
8,400
May 18
Purchased furniture for cash for office
5,000
May 20
Paid for Advertisement
500
May 20
Purchased goods from Mahesh on credit
6,000
May 24
Paid to Mahesh
4,000
May 25
Paid Wages
400
May 27
Received for Commission
1,500
May 28
Withdrew for personal use
2,200
May 31
Paid salary
700
→
Fill in the missing assuming CGST @ 6% and SGST @ 6%:
→
Reliance Ltd. Purchased a second hand machine for ₹ 56,000 on October 01, 2011 and spent ₹ 28,000 on its overhaul and installation before putting it to operation. It is expected that the machine can be sold for ₹ 6,000 at the end of its useful life of 15 years. Moreover an estimated cost of ₹ 1,000 is expected to be incurred to recover the salvage value of ₹ 6,000. Prepare machine account and Provision for depreciation account for the first three years charging depreciation by fixed installment Method. Accounts are closed on March 31, every year.
→
Trial balance of Khatau did not agree. He put the difference to suspense account and discovered the following errors:
  1. Credit sales to Manas ₹ 16,000 were recorded in the purchases book as ₹ 10,000 and posted to the debit of Manas as ₹ 1,000.
  2. Furniture purchased from Noor ₹ 6,000 was recorded through purchases book as ₹ 5,000 and posted to the debit of Noor ₹ 2,000.
  3. Goods returned to Rai ₹ 3,000 recorded through the Sales book as ₹ 1,000.
  4. Old machinery sold for ₹ 2,000 to Maneesh recorded through sales book as ₹ 1,800 and posted to the credit of Manish as ₹ 1,200.
  5. Total of Returns inwards book ₹ 2,800 posted to Purchase account. Rectify the above errors and prepare suspense account to ascertain the difference in trial balance.
→
Prepare Two-column Cash Book of Bimal, Lucknow from the following transactions:
2019
 
₹
June 1
Cash Balance
5,000
June 1
Bank Balance
17,500
June 5
Cash received from sale of personal asset deposited in firm's account
5,000
June 6
Cheque received as advance against sale, paid into bank
50,000
June 7
Paid S. Bose by cheque
12,500
 
Discount received
200
June 9
Paid wages in cash
3,000
June 20
Received a cheque from A. Mukherjee and sent it to bank
6,000
June 21 Drawn from Bank 5,000
June 29 Paid office salaries in cash 4,000
June 30 Sold goods in cash for ₹ 8,000 plus CGST and SGST @ 6% each and banked the same  
June 30 Paid rent by cheque including CGST and SGST @ 6% each 1,120
June 30 Paid into Bank 7,500
→
State whether the following accounts will indicate a debit or credit balance:
  1. Drawings
  2. Advance Rent Received
  3. Bad Debts
  4. Sales Return
  5. Furniture
  6. Bank Overdraft
→
On 31st March, 2019 the Cash Book of Gopal disclosed a balance of ₹ 12,580. On checking entries in the Cash Book with the bank statement, it was ascertained that:
  1. Cheques amounting to ₹ 18,000 were drawn on 25th March, of which cheques of ₹ 4,800 were cashed before 31st March.
  2. Cheques for ₹ 18,000 were sent for collection out of which cheques for ₹ 8,200 were credit by bank after 31st March.
  3. An amount of ₹ 5,000 paid directly into the merchant's account by a customer was not entered in the Cash Book.
  4. On 31st March, cash was deposited into the bank ₹ 12,720 but the cashier debited the bank account with ₹ 12,270 by mistake.
  5. Dividend collected by bank on our behalf ₹ 570 does not appear in the Cash Book.
  6. ₹ 300 is entered in the bank statement as bank charges. This was recorded as ₹ 200 in the cash book.
You are required:
  1. To prepare the Amended Cash Book.
  2. Then prepare a Bank Reconciliation Statement.
→
Enter the following transactions in a Single Column Cash Book:
2016
 
(₹)
Dec. 1
Cash-in-hand
25,000
Dec. 2
Cash Sales (CGST 6%, SGST 6%)
40,000
Dec. 4
Received from X on behalf of Y
4,000
Dec. 9
Paid to Som Pal
4,900
Discount Received
100
Dec. 12
Received from Vijay Kumar
7,800
discount allowed
200
Dec. 20
Bought goods for Cash (CGST 6%, SGST 6%)
20,000
Dec. 21
Paid Cartage (CGST 6%, SGST 6%)
1,000
Dec. 23
Remitted to Dharamvir
1,880
discount allowed by him
120
Dec. 25
Received M.O. from Mohan
500
Dec. 27
Borrowed from Mahabir
7,500
Dec. 29
Received from Bhushan
3,900
discount allowed
100
Dec. 31
Paid to Lalit ₹ 2,700 in full settlement of his account of ₹ 3,000
 
→
Enter the following transactions in the Journal of Sahil Bros.:
2018
 
₹
October 1
 Purchased goods from Anil for Cash
40,000
October 3 Purchased goods from Atul
75,000
October 6
 Returned goods to Atul
3,000
October 8 Paid cash to Atul
50,000
October 10 Sold goods to Charu
1,00,000
October 12 Charu returned 20% of goods
 
October 15 Paid rent
2,000
October 20 Sahil withdrew for personal use
10,000
→