Question No 11 Chapter No 10 – D.K Goal 11 Class

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

1. The debtors and Creditor’s balance have been wrongly interchanged while entering them in the trial balance.
2. A similar error has been made with the balance of discount allowed and discount received
3. A credit sale of Rs 10,000 has been left unrecorded
4. Bank overdraft balance is undercast by 5,000
5. 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

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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.