Trial Balance and Rectification of Errors — Account STD 11 Commerce — Question

Rectify the following errors:

1. Total of one page of the Sales Book was carried forward to the next page as ₹ 2,785 instead of ₹ 2,587.
2. A cheque of ₹ 400 received from Mohan was dishonoured and had been posted to the debit side of the ‘Allowance Account’.
3. Return of goods worth ₹ 5,000 by a customer was entered in the Purchases Return Book.
4. Sum of ₹ 200 owed by ‘X’ has been included in the list of Sundry Creditors.
5. Sale of old furniture worth ₹ 430 was credited to the Sales Account as ₹ 340.

Prepare a Bank Reconciliation Statement from the following particulars as on 31st March 2015:

1. Cheques were deposited into bank on 25th March for ₹ 20,000. Out of these cheques for ₹ 8,000 were cleared on 4th April, cheques for ₹ 6,000 on 6th April and one cheque for ₹ 1,400 was dishonoured on 7th April.
2. Cheques amounting to ₹ 12,000 were issued in March, out of which cheques for ₹ 2,000 were encashed upto 31st March.
3. A bill for ₹ 5,000 (discounted with the bank in January) dishonoured on 30th March 2015 and noting charges paid by bank ₹ 50. No information regarding the dishonour was received from the bank in March 2015.
4. Cheque issued to a creditor for ₹ 2,000 was through mistake entered in the cash column of the Cash Book. The same has not been presented for payment till today.
5. Receipt side of the Cash Book (bank column) was undercast by ₹ 100.
6. Bank has paid a bill payable amounting to ₹ 2,500 but it has not been entered in the Cash Book.
7. A cheque for ₹ 2,000 issued to Mr. X was omitted to be recorded in Cash Book.
8. Dr. balance as per Pass Book was ₹ 7,200.

Fill in the missing information in the following journal entries:

Complete the following Accounting Equation by filling the missing amounts:

Enter the following transactions in Return Inward Book of M/s Kanitkar & Co. of Mumbai (Maharashtra) assuming CGST @ 2.5% and SGST @ 2.5% and post it into Ledger:

2018
Jan. 5	Goods returned to us by Giriraj & Co., Pune (Maharashtra) worth ₹ 40,000, less 10% trade discount
Jan. 10	Shah Brothers, Jaipur (Rajasthan) returned goods, being not according to sample ₹ 30,000
Jan. 16	Allowance claimed by Jai Singh & Co., Mathura (U.P) on account of a mistake in the invoice ₹ 10,000
Jan. 20	Good returned by Gopalsons, Mumbai being defective ₹ 20,000

Complete the following Accounting Equation by filling the missing amounts:

Pass journal entries to rectify the following errors. The trial balance had ₹ 1,260 excess credit. The difference has been posted to a suspense account:

1. The total of returns inwards book has been cast ₹ 2,000 short.
2. The purchase of an office table costing ₹ 6,000 has been passed through the purchases day book.
3. A sum of ₹ 7,500 paid to workman for wages for making showcases has been charged to wages account.
4. A purchase of ₹ 1,340 has been posted to the creditor's account as ₹ 600.
5. A cheque of ₹ 4,000 received from Y has been dishonoured; it has been posted to the debit of allowances account.

After passing journal entries, prepare the suspense account.

From the following particulars, prepare Sales Book of Gupta & Co., Kolkata who deals in furniture:
Show the Posting from Sales Book to Ledger Accounts.

Enter the following transactions in Return Outward Book of Modern Furniture House, Udaipur (Rajasthan) assuming CGST @ 6% and SGST @ 6% and post it into Ledger:

2017
Nov. 7	Returned to Sachdeva Furniture Store, Ahmedabad (Gujarat):
	5 Chairs @ ₹ 2,000 each
	1 Table for ₹ 15,000
	Less: 10% Trade Discount
Nov. 22	Returned 8 Chairs to India Furniture House, Jodhpur (Rajasthan) @ ₹ 1,500 each, being not of specified quality
Nov. 24	Returned one Dining Table to Arora & Co., Jaipur (Rajasthan) being not according to sample ₹ 50,000
Nov. 28	Allowance claimed from Delhi Furniture Shop, Ahmedabad (Gujarat) on account of mistake in the invoice ₹ 16,000

On 1st Jan. 2012, Panjim Dryfruits Ltd. bought a plant for ₹ 15,00,000. The company writes off depreciation @ 20% p.a. on Written Down Value Method and closes its books on 31st March every year. On 1st Oct. 2014, a part of the plant purchased on 1st Jan. 2012 for ₹ 3,00,000 was sold for ₹ 1,75,000. On 1st Jan. 2015 a fresh plant was purchased for ₹ 5,00,000. Prepare Plant A/c, Provision for Dep. A/c and Plant Disposal A/c.