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11th Standard English Medium Accountancy Subject Rectification of Errors Book Back 3 Mark Questions with Solution Part - I

Published on: 08/06/2021

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Std: 11th Standard - Accountancy

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Questions:

Generic 3

5 x 3 = 15

The following errors were located by the accountant after the preparation of trial balance. There exists a suspense account. Rectify them.
(a) The total of the discount column of Rs.1,180 on the debit side of the cash book was not posted.
(b) Purchase of goods from Arivuchelvan on credit for Rs.600 was posted to the debit side of his account.
(c) The total of the discount column on the credit side of the cash book was undercast by Rs.400.
(d) The total of sales returns book of Rs.570 was posted twice.
(e) Sold goods to Mukil on credit for Rs.87 was posted to her account as Rs.78.

Rectify the following errors assuming that the trial balance is already prepared and the difference was placed to suspense account:
(a) Sales book was undercast by Rs.250
(b) Purchases book was undercast by Rs.120
(c) Sales book was overcast by Rs.130
(d) Bills receivable book was undercast by Rs.75
(e) Purchases book was overcast by Rs.35.

What are the errors disclosed by a trial balance?

Write a note on suspense account.

The following errors were located after the preparation of the trial balance. Assume that there exists a suspense account. Rectify them.
(a) Sale of goods on credit to Arun for Rs. 152 posted to his account as Rs. 125.
(b) Bought goods from Lakshmi on credit for Rs. 550, credited to her account as Rs. 505.
(c) Purchase of furniture from Abirupa for Rs. 404 on credit was debited to furniture account as Rs. 440.
(d) Purchased machinery for cash Rs. 200 was not posted to machinery account.
(e) The total of purchases book Rs. 89 was carried forward as Rs. 98.

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Answers Key:

Generic 3

5 x 3 = 15

Rectification of Errors
S.No.	Particulars		Debit Rs	Credit Rs
(a)	Discount allowed A/c	Dr.	1,180
	To Suspense A/c			1,180
	(Being the omission to post the total of discount allowed, now rectified)
(b)	Suspense A/c	Dr.	1,200
	To Arivuchelvan A/c			1,200
	(Being the excess amount posted to Arivuchelvan account rectified)
(c)	Suspense A/c	Dr.	400
	To Discount received A/c			400
	(Being Partial omission in discount received A/c is now rectified)
(d)	Suspense A/c	Dr.	570
	To Sales returns book			570
	(Being Sales return book of Rs. 570 was po ted twice, now rectified)
(e)	Mukil A/c	Dr.	9
	To Suspense A/c			9
	(Being Sales to Mukil Rs 87 was posted to her Account as Rs. 78, now rectified)

Rectification of Errors
S.No.	Particulars		Debit Rs	Credit Rs.
(a)	Suspense A/c	Dr.	250
	To Sales A/c			250
	(Being the uridercasting of sales book now rectified)
(b)	Purchases A/c	Dr.	120
	To Suspense A/c			120
	(Being the undercasting of Purchase book now rectified)
(c)	Sales A/c	Dr.	130
	To Suspense A/c			130
	(Being the overcasting the sales book now rectified)
(d)	Bills receivable A/c	Dr.	75
	To Suspense A/c			75
	(Being bills receivable book undercast, now rectified)
(e)	Suspense A/c	Dr.	35
	To Purchases A/c			35
	(Being Purchase book was overcast by Rs 35, now rectified)

Certain errors affect the agreement of trial balance. If such errors have occurred in the books of accounts, the total of debit and credit balances will not be the same. The trial balance will not tally.
Examples of such errors are follows:
(i) Entered in the journal but posted to one account and omitted to be posted to the other.
(ii) Posting an amount to the wrong side of a ledger account
(iii) Posting twice in a ledger account
(iv) Over-casting or Under-casting in a subsidiary book
(v) Posting a wrong amount to the correct sideof an account
(vi) Posting a wrong amount to the wrong side of an account
(vii) Errors arising in carrying forward the page total from one page to the next page of an account or subsidiary book.
(viii) Errors arising in the balancing of an account.
(ix) Omission to post an entry from a subsidiary book.

(i) When the trial balance does not tally, the amount of difference is placed to the debit (when the total of the credit column is higher than the debit column) or credit (when the total of the debit column is higher. than the credit column) to a temporary account known as 'suspense account'.
(ii) Suspense account will remain in the books until the location and rectification of errors.
(iii) If all the errors are located and rectified, the suspense account gets closed.

	Particulars		Dr.	Cr.
a	Arun A/c	Dr.	27	27
	To Suspense A/c
	(Wrong amount posted to Arun account rectified)
b	Suspense A/c	Dr.	45
	To Lakshmi A/c			45
	(Short credit to Lakshmi account rectified)
c	Suspense A/c	Dr.	36
	To Furniture A/c			36
	(Excess debit to furniture account rectified)
d	Machinery A/c	Dr	200
	To Suspense A/c			200
	(Omission to debit machinery account rectified)
e	Suspense A/c	Dr	9
	To Purchases A/c			9
	(Excess amount carried forward to purchases account rectified)