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11th Standard English Medium Accountancy Subject Rectification of Errors Book Back 2 Mark Questions with Solution Part - I

Published on: 08/06/2021

QB365 provides detailed and simple solution for every Book back Questions in class 11 Accountancy Subject. It will helps to get more idea about question pattern in every book back questions with solution.

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Std: 11th Standard - Accountancy

chapter: - Book back Questions

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Questions:

Generic 2

5 x 2 = 10

State the account/s affected in each of the following errors:
(a) Goods purchased on credit from Saranya for Rs.150 was posted to the debit side of her account.
(b) The total of purchases book Rs.4,500 was posted twice.

What is meant by error of complete omission?

What is meant by error of principle?

The following errors were detected before preparation of trial balance. Rectify them.
(a) The total of rent received account is carried forward Rs. 900 short.
(b) The total of rent received account is carried forward Rs. 1,000 excess.
(c) The total of salary account is carried forward Rs. 1,100 short.
(d) The total of salary account is carried forward Rs. 1,200 excess

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

5 x 2 = 10

Journal Entries
S.No.	Particulars		Debit Rs	Credit Rs
(a)	Purchases A/c Dr.	Dr.	300
	To Saranya A/c			300
	(Credit purchases from Saranya for Rs 150 wrongly posted to the debit of his account now corrected)
(b)	Suspense A/c	Dr.	4,500
	To Purchases.A/c			4,500
	(wrongly posted wages entry is rectified)

It means the failure to record a transaction in the journal or subsidiary book or failure to post both the aspects in ledger. This error affects two or more accounts.

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

(a) Rent received account is to be credited with Rs. 900
(b) Rent received account is to be debited with Rs. 1,000
(c) Salary account is to be debited with Rs. 1,100
(d) Salary account is to be credited with Rs. 1,200

(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