Question 1653495

Download as pdf or txt
Download as pdf or txt
You are on page 1of 11

ED VISION :COACHING FOR JEE NEET

NEW DELHI

27-10-24 SUNDAY TEST OF ACCOUNTS TEST SYLLABUS 1. RECTIFICATION OF


ERROR 2. BRS(BANK RECONSIDERATION STATEMENT) 3. DEPRECIATION TILL
WDB METHOD
Class 11 - Accountancy
Time Allowed: 2 hours Maximum Marks: 214

Section A
1. Bank Reconciliation is

a) Not a part of Single Entry System. b) a part of Double Entry System

c) not a part of Double Entry System d) a part of Single Entry System.


2. Which of the following will not require adjustment in the Cash Book balance?
i. Error in Bank Pass Book
ii. Cheque issued but not presented for payment
iii. Cheque deposited but not cleared
iv. All of these

a) Statement (i) is Correct. b) Statement (iv) is Correct.

c) Statement (iii) is Correct. d) Statement (ii) is Correct.


3. One outgoing cheque of ₹300 was recorded twice in the cash book. How will it be treated for the purpose of a bank
reconciliation statement?

a) ₹300 will be deducted from the balance as b) ₹300 will be added to the balance as per
per cash book. cash book.

c) ₹600 will be deducted from the balance as d) ₹600 will be added to the balance as per
per cash book. cash book.
4. Which of the following is an example of difference caused due to errors in cash book and pass book?

a) Cheque collection charges worth ₹ 45,000 b) Cheques paid into the bank of ₹ 93,000 but
levied by bank. not yet collected.

c) Wrong totalling as ₹ 2,50,000 instead of ₹ d) Cheques issued by the firm to suppliers


2,30,000 by the accountant of the firm. worth ₹ 60,000 not presented by supplier to
the bank for payment immediately.
5. A bank reconciliation statement can be prepared with the balance of

a) Bank A/c b) both pass book and cash book

c) pass book d) cash book


6. Bank Reconciliation Statement is prepared because:

1 / 11
BORN TO WIN!!
a) it provide the summary of Ledger account b) it helps in preparing of Final accounts

c) it helps in locating error d) it helps in locating and rectifying the errors


or omissions
7. The reason for the difference in the cash book and pass book is

a) Time gap and errors committed in recording b) Errors Committed in recording transactions
transactions

c) Recording error d) Time gap in recording transactions


8. Credit balance of cash book means:

a) None of these b) Positive i.e. Favourable Balance

c) Negative i.e. Unfavourable Balance d) Both Positive and Negative Balance


9. Unfavourable bank balance means

a) Cr. balance in the Pass Book b) Favourable balance in the Cash Book

c) Dr. balance in the Cash Book d) Credit balance in the Cash Book means
overdraft balance.
10. Balance shown in the Balance Sheet is of:

a) Cash Book b) Adjusted Cash Book

c) Adjusted Cash account d) Pass Book


11. ________ of an asset is the estimated economic or commercial life or the asset.

a) Residual life b) Useful life

c) Physical life d) Remaining life


12. Characteristic of Depreciation is:

a) Decline in the value of assets b) Depreciation is of permanent nature

c) All of these d) Depreciation is non-cash expense


13. Obsolescence means a decrease in assets

a) Overuse of assets b) inefficient use of asset

c) Due to its use in business operations d) Assets become out of fashion


14. Depreciation is a process of:
A. Valuation of asset
B. Allocation of the cost of asset
C. Valuation and allocation of the cost of asset
D. Valuation of Charge

a) Statement A is correct. b) Statement C is correct.

c) Statement B is correct. d) Statement D is correct.


15. Original cost of an asset is ₹ 4,80,000; Salvage value is 25% of the Cost of the asset; Useful Life is 10 Years. The rate of
depreciation under Straight Line Method will be:

a) 9% p.a. b) 10% p.a.

2 / 11
BORN TO WIN!!
c) 7.5% p.a. d) 8% p.a.
16. A machine is purchased for ₹ 50,000 and is expected to have a useful life of 10 years. At the end of 10th year it is
expected to have a sale value of ₹ 6,000 but expenses related to its disposal are estimated at ₹ 1,000. Then its depreciable
cost is

a) ₹ 18,000 b) ₹ 44,00

c) ₹ 50,000 d) ₹ 45,000
17. What is the rate of charging depreciation under diminishing method?

a) 12% p.a. b) Not fixed

c) 10% p.a. d) 15% p.a.

18. On 1st October 2021, a machine is purchased for ₹ 10,00,000. Depreciation is charged @ 15% p.a. on diminishing
balance method on 31st March each year. The amount of depreciation on 31st March 2023 will be:

a) ₹ 1,27,500 b) ₹ 1,44,375

c) ₹ 1,38,750 d) ₹ 69,375
19. An asset was purchased for ₹ 5,00,000 and as per reducing balance method, 20% deprecation is charged each year. What
is the value of assets at the end of three years?

a) ₹ 2,56,000 b) ₹ 3,50,000

c) ₹ 4,00,000 d) ₹ 3,20,000

20. On 1st April, 2022 a machine is purchased for ₹ 1,00,000 and CGST and SGST are paid @ 9% each. Depreciation is
provided @ 10% p.a. Depreciation for the year ending 31st March 2023 will be:

a) ₹ 10,900 b) ₹ 8,200

c) ₹ 11,800 d) ₹ 10,000
21. Which of the following is/are the advantage(s) of written down value method?
i. It results into almost equal burden of depreciation and repair expenses taken together every year on profit and loss
account
ii. Income Tax Act accept this method for tax purposes
iii. As a large portion of cost is written-off in earlier years, loss due to obsolescence gets reduced
iv. All of these

a) Option (iv) b) Option (i)

c) Option (iii) d) Option (ii)


22. Which of the following is \are limitations of straight line method?
i. This method reduces the book value of an asset to zero although the asset may still be in existence.
ii. It is a very simple method.
iii. Depreciation charged is same every year making comparison of profits for different years easy.
iv. All of these

a) Option (iv) b) Option (iii)

c) Option (ii) d) Option (i)


23. Rs.218,400 paid to a supplier was posted to the supplier as Rs.214,800. What amount is to be adjusted now?

3 / 11
BORN TO WIN!!
a) Cr. Rs.214800 b) Dr. Rs.218400

c) Dr. Rs.3600 d) Cr. Rs.3600


24. An amount of ₹ 8,460 spent on the extension of Building was wrongly debited to Repairs A/c as ₹ 4,860. In rectifying
entry Suspense A/c will be credited by:

a) ₹ 13,320 b) ₹ 8,460

c) ₹ 3,600 d) ₹ 4,860
25. Sale of office furniture is credited to:

a) Cash Account b) Sales Account

c) bank account d) Office Furniture Account


26. There can be of two types of error of omission

a) error of compensating omission and error of b) error of complete omission and error of
partial omission partial omission

c) error of first omission and error of last d) error of complete omission and error of
omission principle omission
27. Which of the following is one-sided error:

a) All of these b) Subsidiary book undercast

c) Omission of posting to an account d) Posting to the wrong side of an account


28. Sales for Rs.20000 made to Malvika was not entered in the Sales Book. The rectifying journal entry would be

a) Malvika Dr 20000 b) Malvika Dr 20000

To Goods A/c 20000 To Sales A/c 20000

c) Malvika Dr 2000 d) Goods Dr 20000

To Sales A/c 2000 To Sales A/c 20000

29. Goods returned from Ravindra ₹ 12,000 were recorded in Purchases Return Book as ₹ 2,000. Rectifying entry will be:

a) Ravindra Dr. 14,000 b) Sales Return A/c Dr. 12,000

To Sales Return A/c 12,000 Purchases Return


Dr. 2,000
A/c
To Purchases Return
2,000
A/c To Ravindra 14,000

c) Sales Return A/c Dr. 12,000 d) Sales Return A/c Dr. 12,000

Purchases Return To Purchases Return


Dr. 2,000 2,000
A/c A/c

To Suspense A/c 14,000 To Ravindra 10,000

30. Repairs to Machinery is debited to :

a) Profit and loss A/c b) Fixed Asset A/c

c) Repairs A/c d) Machinery A/c

4 / 11
BORN TO WIN!!
31. Which of the following errors is disclosed by the trial balance:

a) Error of Omission b) Compensating error

c) Error of balancing and carry forward d) Error of Principle


32. Rectify through suspense account- Goods purchased from Manohar for Rs.2500 has been posted to the debit of his
account. Which account should be credited

a) None b) Suspense A/c

c) Manohar A/c d) Goods A/c


Section B
33. On 31st March, 2019, the balance as per the Bank Statement was ₹ 10,000 debit. On the same date, outstanding cheques
amounted to ₹ 30,000 and outstanding deposits amounted to ₹ 50,000. Also, there was a dishonoured cheque from a
customer of ₹ 5,000 recorded in the Bank Statement but not in the Cash Book. On the basis of the above information,
determine the balance as per the Cash Book.
34. Overdraft as per cash book is Rs 10,000. Cheques deposited but not credited Rs 2,500. Cheques issued but not encashed
Rs 3500. What is the balance as per pass book?
35. On 31st March, 2023 the Pass Book of Sh. Janvi Malhotra showed a credit balance of ₹ 20,600. Prepare a Bank
Reconciliation Statement from the following information:
i. Cheques amounting to ₹ 15,000 were drawn in March 2023, out of which, cheques for ₹ 5,500 were presented for
payment on 3rd April.
ii. A cheque for ₹ 5,475 was deposited into the bank, but wrongly entered in the Cash Book as ₹ 5,745.
iii. A cheque of ₹ 5,000 which was received from a customer was entered in the cash column of the Cash Book in March
2023 but was omitted to be banked in the month of March.
iv. A B/P of ₹ 10,000 was retired by the bank under a rebate of ₹ 100 but the full amount of the bill was credited in the
Cash Book.
v. Bank charges entered in the Cash Book twice ₹ 200.
36. Prepare a Bank Reconciliation Statement as on 31st March, 2023 from the following:
i. On 31st March, 2023, Cash Book of a firm showed bank balance of ₹ 36,000 (Dr.).
ii. Cheques had been issued for ₹ 30,000, out of which cheques of ₹ 24,000 were presented for payment.
iii. Cheques of ₹ 8,400 were deposited in the bank on 28th March, 2023 but had not been credited by the bank. Also, a
cheque of ₹ 3,000 entered in the Cash Book on 30th March, 2023 was banked on 3rd April.
iv. A cheque from Sunil for ₹ 2,400 was deposited in the bank on 26th March, 2023 was dishonoured, advice was
received on 2nd April, 2023.
v. Pass Book showed bank charges of ₹ 120 debited by the bank.
vi. One of the Debtors deposited ₹ 3,000 in the bank account of the firm on 26th March, 2023, but the intimation in this
respect was received from the bank on 2nd April, 2023.
37. Enumerate the steps to ascertain the correct cash book balance.
38. Is depreciation affected by obsolescence? Give reason.
39. Explain basic factors affecting the amount of depreciation.
40. A company bought a machine for Rs.90,000 on credit. Another Rs.10,000 is spent on its installation. If the estimated
useful life is 5 years and scrap value at the end was Rs.5,000. Calculate the amount and rate of depredation.

5 / 11
BORN TO WIN!!
41. Govind Plastics bought machinery for ₹ 1,80,000 on 1st April, 2023 and ₹ 20,000 are spent on its installation. Its
estimated useful life is 5 years. Its realisable value at the end of the estimated useful life is ₹ 10,000. Determine the

amount of annual depreciation and rate of depreciation. The books of account are closed on 31st March, every year.
42. Give four advantages of Straight Line Method of providing depreciation.
43. Give two merits of providing depreciation by the Written Down Value Method.
44. Rectify the following errors found in the books of Mr. Amit by passing entries:
i. The purchase of ₹ 610 from Karan was entered into sales book but Karan’s personal account was rightly credited.
ii. Sale of old furniture of ₹ 2,500 was credited to sales account as ₹ 250.
iii. An item of ₹ 500 relating to prepaid insurance account was omitted to be brought forward from the previous year’s
books.
iv. ₹ 220 discount received from a creditor had been duly entered in his account but not posted to discount received
account.
45. Pass the necessary journal entries to rectify the following errors
i. Credit sale of Rs.1,700 to Raj was recorded as sales to Aryan.
ii. Credit sale of Rs.1,700 to Nisha was recorded as sale to Vishu as Rs.7,100.
iii. Credit sale of old machinery to Sohan for Rs.1,700 was entered in the sales book for Rs.7,100.
46. Rectify the following errors-
i. Purchases Book has been undercast by ₹ 1,000.
ii. Credit sale to Ram Lal ₹ 7,000 was recorded in Purchases Book.
iii. Credit sale to Rohit ₹ 7,000 was recorded as ₹ 700.
47. Give the Journal entries to rectify the following errors:
i. Purchases Book was overcast by ₹ 1,000.
ii. Installation charges on new machinery purchased ₹ 500 were debited to Sundry Expenses Account as ₹ 50.
iii. Govind Ram returned goods worth ₹ 500 which was entered in the Purchases Return Book.
iv. Goods taken by the proprietor for ₹ 5,000 have not been entered in the books at all.
48. Explain compensating errors and give atleast one example of such errors.
Section C
49. Following information has been given by Rajendra. Prepare a Bank Reconciliation Statement as on 31st March, 2019,
showing balance as per the Cash Book.
i. Debit balance shown by Bank Statement ₹ 17,800
ii. Cheques of ₹ 21,600 were issued in the last week of March but only cheques of ₹ 14,800 were presented for
payment.
iii. Cheques of ₹ 10,750 were presented to the bank. Out of them, a cheque of ₹ 4,200 was credited in the first week of
April, 2019
iv. A cheque of ₹ 1,200 was debited in the Cash Book but was not presented in the bank.
v. Insurance premium paid by the bank ₹ 1,450 as per standing instruction.
vi. A Bill of Exchange of ₹ 6,200 which discounted with the bank was returned dishonoured but no entry was made in
the Cash Book.
vii. A draft for ₹ 5,000 favouring Basu Brothers was issued by the bank levying bank charges of ₹ 100. In the books,
entry for ₹ 5,000 was recorded.
viii. 400 for bank charges were recorded twice in Cash Book and Bank charges of ₹ 350 were not recorded in Cash Book.

6 / 11
BORN TO WIN!!
50. Prepare Bank Reconciliation Statement from the following :

(i) Overdraft as per Pass Book ₹ 20,000

(ii) Interest on overdraft ₹ 500

(iii) Cheque issued to creditors not yet presented for payment ₹ 3,000

(iv) Cheque paid into Bank not collected ₹ 30,000

(v) Interest on investment collect by Bank not recorded in Cash Book ₹ 500

(vi) The payment side of Bank column of Cash Book overcast by ₹ 700

51. Draw bank Reconciliation statement showing adjustment between your cash book and pass book as on 31st March 2023.
i. On 31st March, 2023 your passbook showed a balance of ₹ 6,000 to your credit.
ii. Before that date, you had issued cheques amounting to ₹ 1,500 of which cheques of ₹ 900 have been presented for
payment.
iii. A cheque of ₹ 800 paid by you into the bank on 29th March 2023 is not yet credited in Passbook.
iv. There was a credit of ₹ 85 for interest on current account in the passbook.
v. On 31st March 2023, a cheque for ₹ 510 received by you and was paid into bank but the same was omitted to be
entered in cash book.
52. Prepare Bank Reconciliation Statement as on 31st January, 2023, if Cash Book of Mr. Suraj showed a credit balance of ₹
20,100.
i. The bank had paid fire insurance premium of ₹ 550 which does not appear in the Cash Book.
ii. Cheques for ₹ 25,000 issued during January, but cheques for only ₹ 18,500 were presented for payment.
iii. Interest collected by bank ₹ 740.
iv. Cheques of ₹ 8,700 were deposited into bank, but cheques for ₹ 7,000 were cleared till 31st January, 2023.
v. A customer deposited ₹ 620 directly into bank without informing Mr. Suraj.
53. On 30th June, 2023, the bank Column of Anuj’s Cash Book showed a balance of ₹8,250. On examination of the Cash
Book and bank statement you find that:
i. Out of total cheques amounting to ₹8,000 issued, cheques amounting to ₹5,800 have been presented for payment
upto 30th June, 2023.
ii. Out of total cheques amounting to ₹6,000 sent to bank for collection, cheques of ₹4,100 were credited in Pass Book
upto 30th June, 2023.
iii. On 28th June a customer deposited ₹3,500 direct in the bank account but it was entered only in the Pass Book.
iv. Debit side of Anuj’s Cash Book (Bank Column) has been overcast by ₹ 100.
v. No entry has been made in the Cash Book for the Rent of ₹800 paid by bankers according to Anuj’s standing
instructions.
vi. The Pass Book showed a credit of ₹320 for interest and a debit of ₹40 for bank charges, but these have not been
entered in the Cash Book.
Prepare a Bank Reconciliation Statement as on 30th June, 2023.
54. Explain the following briefly:
i. Asset Disposal Account
ii. Written Down Value Method of providing Depreciation.
55. Explain the determinants of the amount of depreciation.

7 / 11
BORN TO WIN!!
56. Original cost of an asset is Rs.2,00,000 and depreciation is charged @ 10% per annum at written down value. Calculate
the amount of depreciation for the next 4 years.
57. What are two methods for providing Depreciation? Give the merits and demerits of each method.
58. Write out the journal entries to rectify the following errors, using a suspense account.
i. Goods of the value of Rs 1,000 returned by P were entered in the sales day book and posted there-from to the credit
of his account.
ii. An amount of Rs 1,500 entered in the sales returns book, has been posted to the debit of Q who returned the goods.
iii. A sale of Rs 2,000 made to R was correctly entered in the sales day book but wrongly posted to the debit of S as
Rs.200.
iv. Bad debts aggregating Rs.4,500 were written-off during the year in the sales ledger but were not adjusted in the
general ledger.
v. The total of 'discount allowed' column in the cash book for the month of September, 2013 amounting to Rs 2,500 was
not posted.
59. Is the agreement of a Trial Balance absolute proof of the accuracy of the books of account? If not, what are the errors
which remain even after agreement?
60. What are the different types of errors that are usually committed to recording business transactions?
61. Pass journal entries to rectify the following errors
i. Material from store Rs 15,000 and wages Rs 6,000 had been used in making tools and implements for use in own
factory, but no adjustments were made in the books.
ii. Wages paid for the construction of office, debited to wages account Rs 26,000.
iii. Wages paid Rs 3,720 were recorded in the cash books as Rs 3,270.
iv. A cheque for Rs 1,000 received from Varsha was dishonoured and has been posted to the debit of sales return
account.
v. Rs 20,000 paid to Gopal Furniture Store for the purchase of furniture as per their cash memo were debited to
furniture account.
62. Following errors are discovered in the books of Sh. Roshan Verma. Make the necessary entries to rectify them:
i. Purchases Journal was under cast by ₹ 6,150.
ii. ₹ 500 received from K. Radhe was debited to his account.
iii. An amount of ₹ 3,000 withdrawn by the proprietor of the firm for his personal use, was posted to the travelling
expense account.
iv. An amount of ₹ 175 for a credit sale of R. Govind correctly entered in the Sales Book, has been debited to his
account as ₹ 157.
Section D
63. Explain the reasons where the balance shown by the pass book does not agree with the balance as shown by the bank
column of the cash book.
64. Kumar find that the bank balance shown by his cash book on December 31, 2017 is ₹ 90,600 (Credit) but the pass book
shows a difference due to the following reason:
A cheque (post dated) for ₹ 1,000 has been debited in the bank column of the cash book but not presented for payment.
Also, a cheque for ₹ 8,000 drawn in favour of Manohar has not yet been presented for payment. Cheques totalling ₹
1,500 deposited in the bank have not yet been collected and cheque for ₹ 5,000 has been dishonoured.
65. The bank account of Noddy was balanced on 31st March, 2013. It showed an overdraft of Rs 2,000. The bank statement
of Noddy showed a credit balance of Rs 30,700. Prepare a bank reconciliation statement taking the following into

8 / 11
BORN TO WIN!!
account
i. Cheques issued but not presented for payment till 31st March, Rs 4,800.
ii. Cheques deposited but not collected by bank till 31st March, Rs 8,000.
iii. Interest on term loan Rs 8,000 debited by bank on 31st March but not accounted in Noddy's books.
iv. Bank charge Rs 100 was debited by bank during March but not accounted in the books of Noddy on 4th April.
v. An amount of Rs 40,000 representing collection of Toddy’s cheque was wrongly credited to the account of Noddy by
the bank in their bank statement.
66. On comparing the cash book with pass book of Prasad, it is found that on March 31, 2023, bank balance of ₹ 40,960
showed by the cash book differs from the bank balance with regard to the following:
i. Bank charges ₹ 100 on March 31, 2023, are not entered in the cash book.
ii. On March 21, 2023, a debtor paid ₹ 2,000 into the company’s bank in settlement of his account, but no entry was
made in the cash book of the company in respect of this.
iii. Cheques totaling ₹ 12,980 were issued by the company and duly recorded in the cash book before March 31, 2023,
but had not been presented at the bank for payment until after that date.
iv. A bill for ₹ 6,900 discounted with the bank is entered in the cash book without recording the discount charge of ₹
800.
v. ₹ 3,520 is entered in the cash book as paid into bank on March 31st, 2023, but not credited by the bank until the
following day.
vi. No entry has been made in the cash book to record the dishonour on March 15, 2023 of a cheque for ₹ 650 received
from Bharat.
Prepare a Bank reconciliation statement as on March 31, 2023.
67. On 31st March, 2023, the Bank Pass Book of Sumit Enterprises showed an overdraft of ₹ 7,700. On the basis of the
following particulars, prepare Bank Reconciliation Statement:
i. Cheques issued before 31st March, 2023 but not yet presented for payment amounted to ₹ 3,500.
ii. Cheques paid into the Bank but a cheque amounting to ₹ 2,600, has not been collected yet.
iii. Interest on Loan amounting to ₹ 554, debited by the Bank was not recorded in the Cash Book.
iv. A debtor deposited ₹ 4,800 directly into the bank but the information was received on 3rd April, 2023.
v. Payment side of Cash Book was totalled ₹ 1,000 short.
68. Carriage Transport Company purchased 5 trucks at the cost of ₹ 2,00,000 each on April 01, 2011. The company writes
off depreciation @ 20% p.a. on original cost and closes its books on December 31, every year. On October 01, 2013, one
of the trucks is involved in an accident and is completely destroyed. Insurance company has agreed to pay ₹ 70,000 in
full settlement of the claim. On the same date the company purchased a second-hand truck for ₹ 1,00,000 and spent ₹
20,000 on its overhauling. Prepare truck account and provision for depreciation account for the three years ended on
December 31, 2013. Also, give truck account if truck disposal account is prepared.
69. On 1st April, 2020, machinery was purchased for ₹ 20,000. On 1st October, 2021 another machine was purchased for ₹

10,000 and on 1st April, 2022, one more machine was purchased for ₹ 5,000. The firm depreciates its machinery @ 10%
p.a. on the Diminishing Balance Method. What is the amount of Depreciation for the years ended 31st March, 2021,
2022 and 2023? What will be the balance in Machinery Account as on 31st March, 2023?
70. Discuss in detail the straight-line method and written down value method of depreciation. Distinguish between the two
and also give situations where they are useful.
71. Fill in the missing information in the following Rectifying Journal Entries:

9 / 11
BORN TO WIN!!
JOURNAL

Dr. Cr.
Date Particulars L.F.
(₹) (₹)

(i) ... ...Dr. ...

To Suspense A/c ...

(wages paid ₹ 10,000 debited in Wages Account as ₹ 1,000, now rectified)

(ii) Suspense A/c ...Dr. ...

To Manoj ...

(Sales Return of ₹ 5,000 debited to Manoj, who returned the goods, now rectified)

(iii) .... ...Dr. 1,200

To ... 1,200

(Sales Book overcasted, now rectified)

(iv) ... ...Dr. ...

... ...Dr. ...

To Suspense A/c 8,000

(goods returned to Roshan for ₹ 6,000 wrongly credited to Nitin as ₹ 2,000, now
rectified)

(v) Abhi ...Dr. ...

To ... ...

(goods sold to Abhi for ₹ 12,000 credited to him as ₹ 2,000, now rectified)

72. The accountant of a firm found that his Trial Balance was out (excess credit) by ₹ 742. He placed the amount in a
Suspense Account and subsequently found the following errors:
i. A discount of ₹ 178 was allowed to Ramesh but in his account, only ₹ 100 is recorded.
ii. The total of the Purchases Book was ₹ 1,000 short.
iii. A sale of ₹ 375 to Guruji was entered in the Sales Book as ₹ 735.
iv. From the Purchases Book, Bose’s Account was debited with ₹ 175.
v. Cash ₹ 250 received from Mahi against debt previously written off was credited to his account.
vi. Purchase of office furniture worth ₹ 750 on credit from Delhi Furnitures was entered in the Purchases Book.
vii. While carrying forward the total of the Sales Book from one page to another the amount of ₹ 11,358 was written as ₹
11,538.
viii. The proprietor took goods of the value of ₹ 150 for his domestic consumption. No record of it has been made in the
books.
ix. Repairs bill of ₹ 410 for the proprietor's personal car, has been paid by the firm and debited to the Repairs Account.
x. A sale to Karan of ₹ 700 has been entered in the Purchases Book.
Rectify the errors by means of suitable Journal entries and show the Suspense Account.

10 / 11
BORN TO WIN!!
73. Rectify the following errors which were detected before preparing the Trial Balance:
i. The total of Sales Book carried forward ₹ 5,000 less.
ii. A credit sale to Geeta ₹ 6,300 posted as ₹ 3,600.
iii. A credit sale to Krishna ₹ 2,400 posted as ₹ 4,200.
iv. A credit sale to Pratibha ₹ 3,000 credited to her account.
v. A credit sale to Monika ₹ 5,600 credited as ₹ 6,500.
74. Rectify the following errors:
i. Sold old furniture of A for ₹ 11,500 was passed through the Sales Book.
ii. Credit purchases of ₹ 12,000 from Ashely omitted to be recorded in the books.
iii. Repair made were debited to Building Account ₹ 7,000.
iv. Credit Sale of ₹ 1,800 to Anshika was recorded as ₹ 8,100.
v. ₹ 6,000 paid for office furniture was debited to the office expense account.
vi. A credit sale of goods ₹ 15,000 to Rajesh has been wrongly passed through the Purchases Book.
75. Rectify the following errors and prepare Suspense Account on the assumption that all the errors have been identified and
rectified:
i. ₹ 10,800 received from Mohit was posted to the debit of his account.
ii. ₹ 2,000 being purchase return was posted to the debit of Purchase Account.
iii. Discount received ₹ 400 was posted to the debit of Discount Allowed Account.
iv. ₹ 11,480 paid for repairs of motor car were debited to Motor Car Account as ₹ 1,480.
v. A sale of ₹ 23,500 to Ravi was entered in the Sales Book as ₹ 25,300.
vi. While carrying forward the balance on one page in Chandan’s Account, the amount of ₹ 2,500 was written on the
credit side instead of the debit side.

11 / 11
BORN TO WIN!!

You might also like