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11th Accountancy - Rectification of Errors Two Marks Questions

Published on: 26/09/2019

Rectification of Errors

Download Tamil Nadu 11th Standard Accountancy question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.

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Questions:

Generic 2

10 x 2 = 20

Will the trial balance agree in case of errors of partial omission? Why?

Is it necessary that a suspense account will balance off after rectification of the errors detected by the accountant? If not, then what happens to the balance still remaining in suspense account?

What is error of commission?

What is error of omission?

The following errors were located after the preparation of trial balance. Pass journal entries to rectify them. Assume that there exists a suspense account.
(a) The total of sales book was undercast by Rs.350.
(b) The total of the discount column on the debit side of cash book Rs.420 was not posted.
(c) The total of one page of the purchases book of Rs.5,353 was carried forward to the next page as Rs.5,533.
(d) Salaries Rs.2,400 was posted as Rs.24,000.
(e) Purchase of goods from Sembiyanmadevi on credit for Rs.180 was posted to her account as Rs.1,800

State the account/s affected in each of the following errors:
(a) Goods sold to Vasu on credit for Rs.1,000 was not recorded in the sales book.
(b) The total of sales book Rs.2,500 was posted twice.

What is meant by error of partial omission?

What is meant by error of principle?

The following errors were detected before preparation of trial balance. Rectify them.
(a) The total of purchases book is carried forward to the next page Rs. 100 short.
(b) The total of purchases returns book is carried forward to the next page Rs. 200 excess.
(c) The total of sales book is carried forward to the next page Rs. 300 excess.
(d) The total of sales returns book is carried forward to the next page Rs. 400 short.

10.

The following errors were detected before preparation of trial balance. Rectify them.
(a) Purchases returns book is undercast by Rs. 500.
(b) Purchases returns book is overcast by Rs. 600.
(c) Sales returns book is undercast by Rs. 700.
(d) Sales returns book is overcast by Rs. 800.

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Answers Key:

Generic 2

10 x 2 = 20

No, the trial balance will not agree. Because a trial balance will agree only if both the aspects of a transaction are posted into ledger accounts with correct amount.

No, it is not necessary that a suspense account will balance after rectification of the errors detected by the accountant.
Suspense account can remain unbalanced if all the' errors are not detected. Balance remaining in the suspense account is transferred to the balance sheet on the assets side, if there is a debit balance, or the liabilities side if there is a credit balance.

(i) When the accountant has done something which should not have been done, it is known as error of commission.
(ii) It usually occurs due to lack of concentration or carelessness of the accountant.

(i) The failure of the accountant to record a transaction in the books of accounts is known as an error of omission.
(ii) It can be complete omission or partial omission.

Journal Entries
S.No.	Particulars		Debit Rs	Credit Rs
(a)	Suspense A/c	Dr.	350
	To Sales A/c			350
	(Being the undercasting of sales book, now rectified)
(b)	Discount allowed A/c	Dr.	420
	To Suspenses A/c			420
	(Being total of the discount column on the debit side, now rectified)
(c)	Purchases A/c	Dr.	180
	To Suspense A/c			180
	(Being the total one page of the Purchase book 5,353 was carried forward to the next page as 5,533 now rectified)
(d)	Suspense A/c	Dr.	21,600
	To Salaries A/c			21,600
	(Being the excess amount posted to the salaries account rectified)
(e)	Sernbiyanmadevi A/c	Dr.	1,620
	To Suspense A/c			1,620
	(Being the excess amount posted to Sembiyanmadevi account rectified)

Journal Entries
S.No.	Particulars		Debit Rs	Credit Rs
(a)	Vasu A/c	Dr.	1,000
	To Sales A/c			1,000
	(Being the sale of goods to Vasu was recorded in the Sales Book)
(b)	Sales A/c	Dr.	2,500
	To Suspense A/c			2,500
	(Being the sale of goods to Vasu was recorded in the Sales Book)

(i) When the accountant has failed to record a transaction partially, it is known as error of partial omission.
(ii) This error usually occurs in posting. This error affects only one account.

Error of principle means the mistake committed in the application of fundamental accounting principles in recording a transaction in the books of accounts.

(a) Purchases account should be debited with Rs. 100.
(b) Purchases returns account should be debited with Rs. 200.
(c) Sales account should be debited with Rs. 300.
(d) Sales returns account should be debited with Rs. 400.

10.

(a) Purchases returns account should be credited with Rs. 500
(b) Purchases returns account should be debited with Rs. 600
(c) Sales returns account should be debited with Rs. 700
(d) Sales returns account should be credited with Rs. 800