Sample QuestionsP2 C1 Rectification ofErrors questions
One sample from each question group in this chapter. Select any group above to see the full set with answer keys.
By opening suspense account, which of the following accounts brings effect on 'Profitand Loss account'?
- A
- B
- C
Error in both personal A/c and assets A/c
- ✓
Errors in Goods A/c. and Nominal A/c.
Answer: D.
View full solution →When trial balance does not tally, it is tallied temporarily with the help of$………$account.
Answer: B.
View full solution →An error arises because of debiting or crediting a wrong account with correct amounton the correct side is known as$……….$
- A
- B
- ✓
- D
Errors of recording to a wrong A/c
Answer: C.
View full solution →An error arises because of non-compliance of accounting principles is known as$........$
- A
- B
- ✓
- D
Not carry forward to suspense Alc.
Answer: C.
View full solution →When a transaction is left unrecorded in primary books the errors is known as$.......$
- A
- ✓
- C
- D
Not carry forward to suspense Ale.
Answer: B.
View full solution →When does the accounting errors do not effect the profit?
When does the accounting errors affect the profit?
When is the Suspense A/c used?
State the errors affecting trial balance.
State the errors not affecting trial balance.
Write note on suspense accounts.
What is compensatory errors? How to rectify these errors? Explain with illustration.
What is errors of principle? How to rectify these errors? Explain with illustration.
What is errors of omission? How to rectify there errors? Explain with illustration.
| Pass necessary rectification entries to rectify the following journal entries written by Ishwarlal: |
| Date |
Particulars |
L.F. |
Debit(Rs.) |
Credit (Rs.) |
| $1$ |
Kishan’s A/c. |
Dr. |
|
$7,000$ |
|
| |
To Cash A/c. |
|
|
$7,000$ |
| |
(Being the salary of current month $Rs.7,000$ paid to Kishan) |
|
|
|
| $2$ |
Purchase A/c. |
Dr. |
|
$9,500$ |
|
| |
To Clinton's A/c. |
|
|
$9,500$ |
| |
(Being the goods of $Rs.9,500$ sold to Clinton on credit) |
|
|
|
| $3$ |
Purchase A/c. |
Dr. |
|
$17,100$ |
|
| |
To Cash A/c. |
|
|
$17,100$ |
| |
(Being the goods worth $Rs.20,000$ purchased at $10\%$ trade discount and $5\%$ cash discount) |
|
|
|
| |
Total |
|
$33,600$ |
$33,600$ |
Prepare rectification to rectify the following errors detected while preparing final accounts of Shri Balram as on $31-3-2015$
$(1)$ Purchase of goods $Rs.5,000$ is left to be recorded.
$(2)$ Installation charges paid $Rs.2,000$ on purchase of machinery is debited to sundry expense account.
$(3)$ $Rs.2,400$ paid to Devanshi is recorded to Karan's account by mistake.
View full solution →
| Pass necessary rectification entries to rectify the following journal entries written by Ramlal: |
| Date |
Particulars |
L.F. |
Debit(Rs.) |
Credit (Rs.) |
| $1$ |
Brokerage A/c. |
Dr. |
|
$16,000$ |
|
| |
To Cash A/c |
|
|
$16,000$ |
| |
(Being the brokerage $Rs.16,000$ paid for the purchase of machinery for business.) |
|
|
|
| $2$ |
Cash A/c. |
Dr. |
|
$4,500$ |
|
| |
To Karina's A/c. |
|
|
$4,500$ |
| |
(Being the amount $Rs. 4,500$ written off as bad debts in last year, received in current year from Karina) |
|
|
|
| $3$ |
Chaitali's A/c. |
Dr. |
|
$6,900$ |
|
| |
To Cash A/c. |
|
|
$6,900$ |
| |
(Being the amount $Rs.6,900$ paid to Chaitali for cash purchase) |
|
|
|
| |
Total |
|
$27,400$ |
$27,400$ |
Trial balance of Pallavi as on $31-3-2015$ does not tally. The difference is transferred to suspense account in order to get it tallied which is as under :
Trial Balance of Pallavi as on $31-3-2015$
(1) $₹ 1300$ received from Anita is posted on the debit side of her account.
(2) Total of sales book is overcast by $₹ 600 .$
(3) Salary paid to Jalpa is debited to her personal ₹.
(4) Opening balance of $₹ 1600$ of Meena, a debtor's A/c, is omitted to be carried down. Give necessary rectification entries to rectify the above errors. Prepare suspense account and the rectified trial balance. View full solution →Prepare rectification to rectify the following errors detected while preparing final accounts of Shri ram as on $31-3-2015$
(1) Goods of $Rs.5,000$ sold to Nayana is recorded in purchase book by mistake.
(2) Our bill receivable of $Rs.1,900$ accepted by Rekha is recorded in bills receivable book by $Rs.1,000.$
(3) $Rs.150$ credited by bank as interest in pass book recorded on payment side of cash book
(4) Goods of $Rs.1,200$ sold to Amita is recorded in purchase book by $Rs.200$
View full solution →Pass necessary rectification entries in the books of Shyam to rectify the following errors $1. R1.500$ withdrawn from bank for personal use is left to be recorded $2.$ Machine of $Rs 5.600$ is purchased from Naresh is recorded in Purchase book $3. R5500$ paid to Kajal is debited to Raj's account by mistake $4$. Goods of Rs $7$rors $00$ sold to Switoo is recorded in purchase book by mistake
View full solution →Pass necessary rectification entries to rectify the following journal entries written by Ishwarlal:
What is compensatory errors? How to rectify these errors? Explain with Illustration.
As on $31-12-2014$ trial balance of Shri Ramanlal does not tally and therefore he has written a difference of $₹ 576$ on the credit side of suspense account and gets his trial balance tallied. Later on, after preparing final accounts the following errors are detected in the next year.
$(1) ₹ 2596$ received from Ashok is posted as $₹ 180$ on the debit side of his account.
$(2) ₹ 1424$ paid for repairing expenses were posted on the debit side of machinery account as $₹ 624 .$
$(3)$ Discount of $₹ 100$ given by Piyush is credited to his account as well as discount received account.
$(4) ₹ 1828$ paid to Narendra is debited to Mahendra's account as $₹ 1028 .$
$(5)$ Total of purhcase book is undercast by $₹ 400 .$
$(6)$ Purchase of furniture of $₹ 1468$ debited to purchase account.
To rectify the above errors, pass necessary rectification entries and prepare suspense account. At the end of the year $2014 ,$ if profit and loss $\mathrm{A} / \mathrm{c}$ discloses a profit of $₹ 31,440$. Find out correct profit after rectification of errors.
View full solution →Shri Harjit has tallied his trial balance by debiting a difference of $₹ 1000$ to suspense account and thereafter he has prepared final accounts. After preparation of final accounts the following errors are detected.
$(1)$ Goods of $₹ 3500$ returned by Beena is posted on debit side of her account.
$(2)$ Total of purchase return book is overcast by $₹ 800 .$
$(3)$ Harjit has paid $₹ 600$ for his personal medical bill and the amount is debited to miscellaneous expense account.
$(4) ₹ 1200 $ received from Neela for rent is posted to the credit of her account as well as to rent account.
$(5)$ Goods of $₹ 5000$ sold to Surendra is recorded in purchase book.
$(6) ₹ 6000$ paid to Esha for repayment of loan is not posted to her account. From the above information pass rectification entries and prepare suspense account:
View full solution →Trial balance of Shri Marmik as on $31-3-15$ does not tally and therefore a difference $Rs. 1,440$ is credited to suspense account. The following errors are detected after final accounts are prepared.
$(1) Rs. 6,490$ received from Paresh is posted as $Rs. 450$ on the debit side of his account.
$(2) Rs. 3,560$ paid for repairing expenses were posted on the debit side of machinery account as $Rs. 1,560.$
$(3)$ Discount of $Rs. 250$ given by Palak is credited to his account as well as discount received account.
$(4) Rs. 4,570$ paid to Sureshbhai is debited to Maheshbhai's account as $Rs. 2,570.$
$(5)$ Total of purchase book is undercast by $Rs. 1,000.$
$(6)$ Purchase of furniture of $Rs. 3,670$ debited to purchase account. To rectify the above errors, pass necessary rectification entries and prepare suspense account. At the end of the year $2015,$ if profit and loss account discloses a profit of $Rs.78,600.$ Find the correct profit after the rectification of errors.
View full solution →Rectify the following errors committed while writing the books of Margi.
$(1)$ Total of goods return book is under cast by $₹ 800 .$
$(2)$ $₹ 480$ received from Prerna a customer, is posted in her account as $₹ 840 .$
$(3)$ Balance of $₹ 5000$ of Kaushik's account, a debtor, is left unrecorded in the trial balance.
$(4)$ $₹ 900$ paid to Manan a supplier, is recorded correctly in the cashbook but by mistake it is credited to his account.
$(5)$ Salary paid $₹ 1000$ is debited twice to salary account.
$(6)$ $₹ 2500$ the balance of drawings account is shown in the credit column of the trial balance.
$(7)$ Wages paid $₹ 3000$ are recorded correctly in the cashbook but are not posted to wages account.
$(8)$ Debit balance of rent account $₹ 850$ is written as credit balance of $₹ 540$ in the trial balance.
$(9)$ $₹ 240$ paid for general expenses, posted to that account as $₹ 140 .$
$(10)$ Opening balance of the cash account $₹ 1500$ is brought forward as $₹ 1050$.
View full solution →Pass necessary rectification entries to rectify the following journal entries written by Vandana. Journal Entries of Vandan
Pass necessary entries in the books of Shri Rakesh to rectify the following errors :
$1.\ ₹ 1500$ withdrawn from bank for personal use is left to be recorded.
$2.$ Installation charges paid $₹ 400$ on purchase of machinery is debited to sundry expenses account.
$3.\ ₹ 500$ paid to Kajal is debited to Rajal's account by mistake.
$4.$ Our bill receivable of $₹ 1550$ accepted by Komal is recorded in the books by $₹ 500$.
$5.$ Goods of $₹ 700$ sold to Switoo is recorded in purchase book by mistake.
$6.$ Goods of $₹ 1250$ purchased from Rekha is recorded in sales book by $₹ 250 .$
$7.\ ₹ 200$ credited by bank as interest in passbook recorded on payment side of cashbook.
$8.\ ₹ 300$ paid for salary is debited to salary account by $₹ 400 ,$ whereas furniture sold for $₹ 400$ is credited to furniture account by $₹ 500$.
View full solution →At the time of preparing final accounts of Vivek as on $31-3-15,$ the following errors are found out. Pass necessary rectification entries to rectify the same:
$(1)$ $Rs. 5,000$ paid for purchase of a computer is debited to purchase account at the time of posting from cashbook.
$(2)$ $Rs. 74,800$ paid for rent to Vedant, a owner of shop, by mistake is debited to his personal account.
$(3)$ Goods of $Rs. 9,000$ are completely burnt by fire and insurance co. has accepted a claim at $40\%$ for the same, which is unrecorded by mistake.
$(4)$ $Rs. 1,200$ paid for brokerage is posted twice in brokerage A/c.
$(5)$ $Rs. 1,00,000$ incurred for extension of building, by mistake, is debited to repairing expense account
$(6)$ $Rs. 560$ paid for general expense is posted to that account as $Rs. 650.$
$(7)$ $Rs. 720$ received towards interest is posted to interest account on debit side.
$(8)$ A machinery of $Rs. 20,400$ is sold for $Rs. 22,000$. It is recorded in sales book by $Rs. 22,000.$
$(9)$ Total of bills payable book is undercast by $Rs. 300$
$(10)$ In March $2015$ discount received and discount paid are $Rs. 3,400$ and $Rs. 3,600 $ respectively.
But by mistake they are recorded on their opposite sides.
View full solution →Trial balance of Shri Dinesh as on $31-3-15$ does not tally. The difference is transferred to suspense account in order to get it tallied, which is as under:
| Debit Balance |
Amt.(Rs.) |
Credit Balance |
Amt.(Rs.) |
| Drawings A/c |
$1,00,000$ |
Capital A/c |
$9,00,000$ |
| Purchase A/c |
$4,80,000$ |
Sales A/c |
$7,20,000$ |
| Salary A/c |
$3,08,000$ |
Jignesh's A/c |
$84,000$ |
| Building A/c |
$2,24,000$ |
Suspense A/c |
$36,000$ |
| Dev's A/c |
$48,000$ |
|
|
| Manan's A/c |
$1,00,000$ |
|
|
| Cash A/c |
$42,000$ |
|
|
| Bank A/c |
$3,66,000$ |
|
|
| Sundry expense A/c |
$32,000$ |
|
|
| Insurance premium A/c |
$24,000$ |
|
|
| Carriage outward A/c |
$16,000$ |
|
|
| |
$17,40,000$ |
|
$17,40,000$ |
The following errors are detected after the final accounts are prepared:
$(1) Rs. 26,000$ received from Dev is posted on the debit side of her account
$(2)$ Total of sales book is overcast by $Rs. 12,000. $
$(3)$ Personal expense of $Rs. 14,000$ is debited to sundry expenses account.
$(4)$ Goods of $Rs. 14000$ purchased from Dev are recorded correctly in purchase book but while posting the same were debited to Dev's account.
$(5)$ Salary paid to Jignesh $Rs. 28,000$ is debited to his personal account.
$(6)$ Opening balance of $Rs. 32,000$ of Manisha, debtor's account, is omitted to be carried down. Give necessary rectification entries to rectify the above erros. Prepare suspense account and the rectified trial balance View full solution →