Download App

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

CBSE BoardEnglish MediumSTD 11 CommerceAccountTrial Balance and Rectification of Errors3 Marks
Question
Give one example of error of Omission?
✓

Answer

Suppose goods for ₹ 10,000 have been purchased from Dinesh on credit and the transaction was omitted to be recorded in the books.The omission will not affect the Trial Balance in any way, because neither has it been recorded on the credit side of Dinesh nor on the debit side of purchase account.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "3 Marks Question" from Trial Balance and Rectification of Errors→Trial Balance and Rectification of Errors — all question types→Account STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

Distinguish between Provision and Reserve on the following basis:
  1. Basic Nature.
  2. Purpose.
  3. Effect on Taxable Profits.
  4. Presentation in Balance Sheet.
  5. Element of Compulsion.
  6. Use for payment of dividend.
→
Explain the procedure of balancing the personal accounts.
→
Mohan, the owner of a business receives an order for supply of goods worth ₹ 2,00,000. He has also received ₹ 25,000 against this order. Mohan wants to record it as a sale. Is Mohan correct in doing so?
→
Open 'T' shape account for Machinery and write the following on the proper side:
    (₹)
i. Machinery purchased for 5,00,000
ii. Machinery sold 1,20,000
iii. Machinery discarded 50,000
iv. New Machinery purchased 2,00,000
v. Machinery destroyed 40,000
→
Journalise the following transactions in the books of Prakash:
  1. Opened a current account with Punjab National Bank ₹ 1,00,000.
  2. Received a cheque of ₹ 12,900 from Chandradev and allowed discount ₹ 300 to him. The cheque was deposited into Bank on the same day.
  3. Purchased machinery for ₹ 1,00,000, payment made by cheque. Installation charge of machinery ₹ 6,000 paid in cash.
  4. Purchased a horse for business for ₹ 20,000.
  5. Sold goods to Gokul at a list price of ₹ 4,000. Trade discount 10% and cash discount 5%. He paid the amount on the same day and availed the cash discount.
  6. Purchased goods for ₹ 10,000 and paid ₹ 400 for carriage on these goods.
  7. Additional cash introduced by the proprietor ₹ 40,000.
  8. Purchased stationery ₹ 800 and postal stamps ₹ 100.
  9. Withdrawn from bank ₹ 20,000.
  10. Received an order to supply goods of ₹ 40,000 from Manu and received ₹ 10,000 as an advance together with the order.
  11. Cash ₹ 10,000 and goods worth ₹ 4,000 were stolen.
  12. Purchased goods from Devendra for ₹ 40,000 and the payment was made by cheque.
  13. Sold $\frac{1}{4}\text{th}$ of the above goods at a profit of 25% on cash.
→
Distinguish between expenses and expenditure.
→
Do you think that the Convention of conservatism results in creation of secret reserves?
→
What is ‘Imprest System' of Petty Cash Book?
→
Journalise the following transactions:
2018
 
April 1
Purchased goods for ₹ 1,00,000 from Manoj and availed discount of ₹ 10,000
April 2
Paid amount due to Manoj by cheque and availed discount of ₹ 4,500
April 5
Cash ₹ 5,000 paid to Desai and discount allowed by him ₹ 200
April 10
Cash ₹ 10,000 received from Govardhan and allowed him discount ₹ 500.
April 12
Sold personal Car of the proprietor for ₹ 80,00 against cheque, which was deposited into the firm's bank account.
April 16
Sold personal Car of the proprietor for ₹ 1,50,000 against cheque, which was deposited into the proprietor's personal bank account.
April 20
Sold goods to Gaurav costing ₹ 1,00,000 at a profit of 40% and allowed him 10% trade discount and paid for cartage ₹ 3,000 not to be charged from him.
April 24
Placed an order with Rudra & Co. for supply of goods of ₹ 80,000 and a cheque for 40% amount is sent to them as an advance.
→
Pass entries in the books of Mukerjee & Sons. assuming all transactions have taken place within the state of Uttar Pradesh. Assume CGST @ 9% and SGST @ 9%.
2018
 
March 1
Purchased goods for ₹ 5,00,000 from Mehta Bros.
March 10
Sold goods for ₹ 8,00,000 to Munjal & Co.
March 15
Paid for advertisement ₹ 40,000 by cheque.
March 18
Purchased furniture for office use ₹ 50,000 and payment made by cheque.
March 25
Paid for printing and stationery ₹ 8,000.
March 31
Payment made of balance amount of GST.
→