Short Answers for NCERT Accountancy Solutions Class 11 Chapter 6 1. Errors that are committed when recording of transactions is done against the accounting principle are known as Errors of principle. (h) Credit sales to Raman Rs 4,000 posted to the credit of Raghvan as Rs 1,000. In this transaction, wages paid for the construction of building is a capital expenditure, so the building account should have been debited. (Credit Sales to Mohan, Error rectification recording, credit sales were posted as ₹ 9,000 instead of ₹ 7,000), (Credit Purchases from Mohan, Error rectification recording, Credit purchases were posted as ₹ 6,000 instead of ₹ 9,000), (Goods returned to Rakesh, Error rectification recording, Goods returned were recorded as ₹ 5,000 instead of ₹ 4,000), (Goods returned from Mahesh, Error rectification recording, Goods returned were posted as ₹ 3,000 instead of ₹ 1,000), (Cash Sales, Error rectification recording, Cash sales were posted as ₹ 200 instead of ₹ 2,000). There is good chances of coming these Accountancy Class 11 TS Grewal solutions on CBSE Final exam question papers. It is carefully prepared after balancing of all the accounts of ledger. Following are the balances extracted from the books of Manish Gupta on 31st March, 2018: Prepare Trading and Profit and Loss Account and Balance Sheet as at 31st March, 2018 after following adjustments are made: (i) Closing Stock was ₹ 16,000. (iv)Goods returned from Mahesh Rs 1,000 were not recorded. The students who are in Class 11 and have the TS Grewal Accountancy Books can check this page to know the solutions for all the chapters of Accountancy book. FREE Downloadable! All the solutions of Rectification of Errors - Accountancy explained in detail by experts to help students prepare for their CBSE exams. Rajasthan Board RBSE Class 11 Accountancy Solutions in English Medium. (b) Machinery purchased on credit from Raman for Rs 20,000 recorded through Purchases Book as Rs 6,000. Hence, the trial balance shows ₹ 3,000 excess debit. (d) Credit purchases from Nanak Rs 7,000 were recorded in sales Book. Errors that are committed when transactions are recorded with wrong amounts, improper balancing, wrong posting or wrong carrying forwarding are called errors of commission. In this case, wrong amount is carried forward from one accounting period to another or from an end of one page to the beginning of another page. Check trial balances of previous year and compare with the current year. (e) Sale of old car for Rs 10,000 was credited to sales account as Rs 6,000. 5. (d) Cash sales to Rana Rs 5,000 were not posted. (m) Material Rs 10,000 and wages Rs 3,000 were used for construction of building. 1,000, In this case, Manu’s account is credited with 1000 instead of 1,500, so the rectification entry should be. NCERT Solution For Class 11 commerce Accountancy Chapter 6 – Trial Balance And Rectification Of Errors furnishes us with an all-inclusive data to all the concepts. In this transaction, amount of repair on machinery is a revenue expenditure. Get the CBSE NCERT accounting part 2 Chapter 5 Computerised Accounting System at free of cost. TS Grewal Solutions for Class 11 Accountancy Chapter 7 – Origin of Transactions – Source Documents and Preparation of Voucher TS Grewal Class 11 SolutionsNCERT Solutions AccountancyNCERT Solutions Question 1. (Depreciation provided on machinery, Error rectification recording, was wrongly posted as ₹ 400 instead of ₹ 4,000), (Bad debts written off, Error rectification recording, was posted as ₹ 6,000 instead of ₹ 5,000), (Discount allowed to debtors, Error rectification recording, was wrongly posted as ₹ 60 instead of ₹ 100), (Goods withdrawn by proprietor for personal use, Error rectification recording, was wrongly posted as ₹ 300 instead of ₹ 800), (Bills receivable from debtors, Error rectification recording, was wrongly posted as ₹ 3,000 instead of ₹ 2,000). TS Grewal Solutions for Class 11 Accountancy Chapter 19 – Accounts from Incomplete Records – Single Entry System. (a) Credit sales to Mohan Rs 7,000 were posted to Karan. The second example of errors of principle is the sale of old machinery recorded as sales. (d) Repairs on overhauling of secondhand machinery purchased Rs 2,000 was debited to Repairs account. 15,600 on the trial balance. Therefore, total of the suspense account is ₹17,700. Pen-drive falls under stationery and is wrongly debited to office equipment account, instead of stationery account and also supplier account is debited instead of crediting. In this case, Wages is paid for the construction of building which is a capital asset and hence it should be treated as a capital expenditure and by rule should be debited to the building account. (d) Goods withdrawn by proprietor for personal use Rs 800 were not posted to Drawings account. (c) Goods purchased on credit from Narula Rs 4,000 though taken into stock, but no entry was passed in the books. Errors of commission refer to those errors that are committed when transactions are recorded with wrong amounts, wrong balancing, and wrong posting and/or wrongly carried forwarded. 23. (a) Cash received from Ravish Rs 8,000 posted to his account as Rs 6,000. Classify them under Assets, Liabilities, Expenses and Revenue Accounts. 2, 40,000 before correcting the error, what is the total of credit column? (b) Bad debts written off Rs 5,000 were posted as Rs 6,000. There is no doubt that this is a vital chapter which will add strength in their foundation of Accountancy, that they grow even more competent to take up this subject in their graduation study. (e) Cash sales Rs 2,000 were posted to the debit of sales account as Rs 5,000. Purchases made from Raj, recorded in Rohit’s Account, who is another creditor, Wages paid for construction of building, recorded in the Wages Account. He put the difference to suspense account. 3,500 debit to creditor’s accounts. It is unable to detect errors known as Errors of Complete Omission which arise when an entry is not recorded in the Journal. Trial balance of Khatau did not agree. (j) Cash paid to Mani Rs 5,000 against our acceptance was debited to Manu. Solution: Question 2. ! (c) Goods returned to Rai Rs 3,000 recorded through the Sales book as Rs 1,000. (b) Credit purchases from Rohan Rs 9,000 were posted to Gobind. 123 is written as 132. TS Grewal Solutions for Class 11 Accountancy Chapter 6 - Ledger Q.2 Suresh, Kanpur commenced business on 1st January, 2019 introducing capital in cash ₹ 1,00,000. (e) Goods returned from Nahesh Rs 2,000 were recorded in purchases book. (iv) Goods returned from Mahesh Rs 1,000 were recorded as Rs 1,600. (d) Goods withdrawn by proprietor for personal use Rs 800 were posted as Rs 300. B.K Gupta, Kolkata, during the month of April, 2018. (Furniture purchased, Error rectification recording, Furniture purchased for ₹ 10,000 was wrongly debited to purchases account as ₹ 4,000), (Machinery purchased, Error rectification recording, Machinery purchased on credit from Raman for ₹ 20,000 was recorded through purchases book as ₹ 6,000), (Repairs on machinery, Error rectification recording, Repairs on machinery ₹ 1,400 was debited to machinery account as ₹ 2,400), (Repairs on overhauling of second hand machinery purchased, error rectification entry, Repairs account was wrongly debited with ₹ 200 instead of crediting the machinery account with ₹ 2,000), (Sale of old machinery at book value, error rectification entry, Sale of old machinery on book value was credited to sales account instead of crediting the machinery account.).
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