Question No 11 Chapter No 10
11. Following trial balance is extracted from the books of Sh. S. Banerjee & Sons as at 31st March,2018
| Dr. | Cr. | |
| Stock on 1st April, 2017 | 4,50,000 | |
| Purchases & sale | 36,50,000 | 52,40,000 |
| Capital | 20,00,000 | |
| Drawings | 36,000 | |
| Trade Expenses | 75,000 | |
| Debtors & Creditor | 2,25,000 | 6,10,000 |
| Premises | 15,00,000 | |
| Plant & Machinery | 7,80,000 | |
| Return Inwards | 24,600 | |
| Discount allowed & Discount received | 4,500 | 6,300 |
| Bank overdraft | 2,60,000 | |
| Bank interest paid | 32,400 | |
| Equipment | 8,900 | |
| Bad debts written off | 12,000 | |
| Wages | 3,15,000 | |
| Bills Receivable & Payable | 2,50,000 | 40,000 |
| 75,98,800 | 75,98,800 |
Subsequently, the following and errors were discovered
- The debtors and Creditor’s balance have been wrongly interchanged while entering them in the trial balance.
- A similar error has been made with the balance of discount allowed and discount received
- A credit sale of Rs 10,000 has been left unrecorded
- Bank overdraft balance is undercast by 5,000
- Cash balance amounting to Rs 24,300 has been left unrecorded
Drew up a corrected trial balance
The solution of Question No 11 Chapter No 10: –
| Trail Balance A/c | |||
| Particulars |
J.F. | Debit | Credit |
| Stock on 1st April 2017 A/c | 4,50,000 | ||
| Purchases A/c | 36,50,000 | ||
| Sale A/c | 52,50,000 | ||
| Capital A/c | 20,00,000 | ||
| Drawings A/c | 36,000 | ||
| Trade expenses A/c | 75,000 | ||
| Debtors A/c | 6,20,000 | ||
| Creditor A/c | 2,25,000 | ||
| Premises A/c | 15,00,000 | ||
| Plant & Machinery A/c | 7,80,000 | ||
| Return Inwards A/c | 24,600 | ||
| Discount allowed A/c | 6,300 | ||
| Discount Received A/c | 4,500 | ||
| Bank Overdraft A/c | 2,65,000 | ||
| Equipment A/c | 32,400 | ||
| Bad debts Written off A/c | 8,900 | ||
| Wages A/c | 3,15,000 | ||
| Bill Receivable A/c | 2,50,000 | ||
| Bill Payable A/c | 40,000 | ||
| Cash A/c | 24,300 | ||
| 77,84,500 | 77,84,500 | ||
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.
