Question No 10 Chapter No 10
10. You Have been Supplied the following figure:
| Amount | |
| Capital | 3,00,000 |
| Drawings | 36,000 |
| Wages | 32,000 |
| Expenses | 15,000 |
| Repairs | 8,000 |
| Return outwards | 6,500 |
| Purchases | 6,20,000 |
| Sales | 7,50,000 |
| Opening stock | 1,50,000 |
| Carriage Inwards | 4,500 |
| Carriage outwards | 1,000 |
| Cash | 22,000 |
| Bank (Cr.) | 48,000 |
| Furniture | 30,000 |
| Bills Receivable | 5,000 |
Subsequently, the following and errors were discovered
- The figure for wages should have been Rs 23,000
- The figure for repairs has been understated by Rs 2,000
- Purchase of new motor van for Rs 2,50,000 had been included in the purchases account
- The total of return inwards book amounting to Rs 15,000 had been omitted to be recorded
- Debtors balance amounting to Rs 2,31,000 had not been included, nor had the credit balance
Drew up a corrected Trail Balance after including the amount of creditor which had been omitted.
The solution of Question No 10 Chapter No 10: –
| Trail Balance A/c | |||
| Particulars |
J.F. | Debit | Credit |
| Capital A/c | 3,00,000 | ||
| Drawing A/c | 36,000 | ||
| Wages A/c | 23,000 | ||
| Expenses A/c | 15,000 | ||
| Repairs A/c | 10,000 | ||
| Return Outwards A/c | 6,500 | ||
| Purchases A/c | 3,70,000 | ||
| Sales A/c | 7,50,000 | ||
| Opening Stock A/c | 1,50,000 | ||
| Carriage Inwards A/c | 4,500 | ||
| Carriage Outwards A/c | 1,000 | ||
| Cash A/c | 22,000 | ||
| Bank A/c (Cr.) | 48,000 | ||
| Furniture A/c | 30,000 | ||
| Bills Receivable A/c | 5,000 | ||
| New Motor Car A/c | 2,50,000 | ||
| Debtors A/c | 2,31,000 | ||
| Return Inwards A/c | 15,000 | ||
| Creditor A/c | 58,000 | ||
| 11,62,500 | 11,62,500 | ||
https://tutorstips.com/ledger/
Thanks, Please Like and share with your friends
Comment if you have any question.
Also, Check out the solved question of all Chapters: –
D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution
- Chapter 1 Evolution of Accounting & Basic Accounting Terms
- Chapter 2 Accounting Equations
- Chapter 3 Meaning and Objectives of Accounting
- Chapter 4 Double Entry System
- Chapter 5 Books of Original Entry – Journal
- Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)
- Chapter 7 Books of Original Entry – Cash Book (Coming soon)
- Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)
- Chapter 9 Ledger (Coming soon)
- Chapter 10 Trial Balance and Errors (Coming soon)
- Chapter 11 Bank Reconciliation Statement (Coming soon)
- Chapter 12 Depreciation (Coming soon)
- Chapter 13 Bills of Exchange (Coming soon)
- Chapter 14 Generally Accepted Accounting Principles(GAAP)
- Chapter 15 Bases of Accounting
- Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)
- Chapter 17 Capital and Revenue
- Chapter 18 Provisions and Reserves
- Chapter 19 Final Accounts (Coming soon)
- Chapter 20 Final Accounts – With Adjustments (Coming soon)
- Chapter 21 Errors and their Rectification (Coming soon)
- Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)
- Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)
- Chapter 24 Computerised Accounting System (Coming soon)
- Chapter 25 Introduction to Accounting Information System (Coming soon)
Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.
