11th Accountancy Monthly Test - 1 ( Rectification of Errors )

MABS Institution

11th Accountancy Monthly Test - 1 ( Rectification of Errors )-Aug 2020

Time : 2.30 Hours

Part - A

Multiple Choice Question - Answer All Question

Which of the following errors will not affect the trial balance?

Wrong balancing of an account
Posting an amount in the wrong account but on the correct side
Wrong totalling of an account
Carried forward wrong amount in a ledger account

Cash received from Mani whose account was previously written off as a Bad debt should be credited _______________

Cash account
Mani's account
Bad debts recovered account
Miscellaneous income account

Many business enterprises have shifted from manual accounting to ________________ accounting.

Journal
Ledger
Computerised
None of these

The total of purchases book was overcast. Which of the following accounts should be debited in the rectifying journal entry?

Purchases account
Suspense account
Creditor account
None of the above

Rs. 60,000 paid on extension of building wrongly debited to repairs account. This is called the error of__________.

Commission
Omission
Principle
None of these

Suspense account is usually closed when ______.

Accounts are finalised
After the completion of auditing
All the errors are rectified
None of the above

A transaction not recorded at all is known as an error of

Principle
Complete omission
Partial omission
Duplication

______________ is prepared to avoid the delay in the preparation of final accounts.

Suspense account
Trading account
Profit and loss account
Final account

________ are those transactions which are not recorded as per the rules of debit and credit.

Error of principle
Error of Commission
Error of Omission
Compensating errors

Casting errors are the result of _________.

Wrong totalling
Wrong Balancing
Wrong carry forward
none of the above

Part - B

Generic 2 - Answer All Question

Rectify the following errors after preparation of trial balance:
(a) Salary paid to Ram Rs.1,000 was wrongly debited to his personal account.
(b) A credit sale of goods to Balu for Rs.450 was debited to Balan.

The following errors were detected before the preparation of trial balance. Rectify them.
(a) Sales book is undercast by Rs 100
(b) Sales book is overcast by Rs 200
(c) Purchases book is undercast by Rs 300
(d) Purchases book is overcast by Rs 400

Is it necessary that a suspense account will balance off after rectification of the errors detected by the accountant? If not, then what happens to the balance still remaining in suspense account?

What is meant by error of complete omission?
Rectify the following errors assuming that the trial balance is yet to be prepared:
(a) Sales book was undercast by Rs.400
(b) Sales returns book was overcast byRs.500
(c) Purchases book was undercast by Rs.600
(d) Purchases returns book was overcast by Rs.700
(e) Bills receivable book was undercast by Rs.800

The following errors were detected before preparation of trial balance. Rectify them.
(a) Purchases returns book is undercast by Rs 500.
(b) Purchases returns book is overcast by Rs 600.
(c) Sales returns book is undercast by Rs 700.
(d) Sales returns book is overcast by Rs 800.

What is meant by error of principle?

Sales of Rs 30,000 by ABC Ltd was recorded in the sales book as Rs 3,000. The accountant has come to know about it but it was his last day in the company as he has already resigned. He presented the sales figures to the management without rectifying error.
(i) Rectify the error
(ii) Identify the value being overlooked by th accountant

Rectify the following errors located after the preparation of trial balance:
(a) Purchases book was undercast by Rs.900.
(b) Sale of old furniture for Rs.1,000 was credited to sales account.
(c) Purchase of goods from Arul for Rs.1,500 on credit was not recorded in the books

What do you mean by errors?

Part - C

Generic 3 - Answer All Question

The following errors were located after the preparation of the trial balance. Assume that there exists a suspense account. Rectify them.
(a) Sale of goods on credit to Arun for Rs 152 posted to his account as Rs 125.
(b) Bought goods from Lakshmi on credit for Rs 550, credited to her account as Rs 505.
(c) Purchase of furniture from Abirupa for Rs 404 on credit was debited to furniture account as Rs 440.
(d) Purchased machinery for cash Rs 200 was not posted to machinery account.
(e) The total of purchases book Rs 89 was carried forward as Rs 98.

The following errors were located after the preparation of trial balance. The difference in trial balance has been taken to suspense account. Rectify them.
(a) The total of purchases book was carried forward Rs.70 less.
(b) The total of sales book was carried forward Rs.340 more.
(c) The total of purchases book was carried forward Rs.150 more.
(d) The total of sales book was carried forward Rs.200 less.
(e) The total of purchase returns book was carried forward Rs.350 less

What are the types of errors at the stage of posting?

The Accountant in a firm committed the following errors.
(a) Rent paid to landlord Rs 12,600 was debited to the Landlord's personal account.
(b) Sold Computer for Rs 6,000 was entered in sales account.
(c) Cash drawn by the proprietor for his personal use Rs 7,400 was debited to Trade expenses account.
(d) Repairs to machinery Rs 500 was passed through the Machinery account. Rectify the above errors.

Write a note on error of principle by giving an example
What are the errors not disclosed by a trial balance?

The following errors were located before the preparation of the trial balance. Rectify them.
(a) Goods sold to Anand for Rs 1,000 on credit was not entered in the sales book.
(b) An amount of Rs 400 paid for repairs to the machinery stands wrongly posted to machinery account.
(c) Salaries Rs 2,000 paid to Gandhiraj was wrongly debited to his personal account in the ledger.

What are the types of errors at the stage of joumalising?

Pass the journal entries rectifying the following errors:
(i) Purchases of office furniture of Rs 10,000 was recorded in Purchases book.
(ii) Office rent of Rs 15,000 was debited to the personal account of the landlord.
(iii) Old machine was sold for Rs 5,000 was credited to Sales account.

The following errors were located at the time of preparation of the trial balance. Pass rectifying entries.
(a) Goods of the value of Rs 100 returned by Bhuvana were included in stock, but no entry was made in the books.
(b) Sale of goods to Mani on credit for Rs 475 has been wrongly entered in the sales book as Rs 745.
(c) A cheque of Rs 500 received from Sandhiya was dishonoured and debited to allowances account.
(d) A sum of Rs 300 drawn by the proprietor for personal use was debited to wages account.

Part - D

Generic 5 - Answer All Question

The accountant of a firm located the following errors after preparing the trial balance.Rectify them assuming that there is a suspense account.
(a) Machinery purchased for Rs.3,500 was debited to purchases account.
(b) Rs.1,800 paid to Raina as salary was debited to his personal account.
(c) Interest received Rs.200 was credited to commission account.
(d) Goods worth Rs.1,800 purchased from Amudhanila on credit was not recorded in the books of accounts.
(e) Used furniture sold for Rs.350 was credited to sales account.

Pass journal entries to rectify the following errors located after the preparation of the trial balance. Assume that there exists a suspense account.
(a) The total of sales book was undercast by Rs 2,000.
(b) The purchase of machinery for Rs 3,000 was entered in the purchases book.
(c) A credit sale of goods for Rs 450 to Mathi was posted in his account as Rs 540.
(d) The purchases returns book was overcast by Rs 200.
(e) The total of sales book Rs 1,122 were wrongly posted in the ledger as Rs 1,222.

Rectify the following Journal Entries.

Rs Rs

(i) Purchases A/c Dr. 5,000

To Cash A/c 5,000

(Purchase of furniture)

(ii) Anbu A/c Dr. 10,000

To Cash A/c 10,000

(Salary paid to Anbu)

(iii) Raju A/c Dr. 3,000

To Cash A/c 3,000

(Rent paid)

(iv) Sales A/c Dr. 10,000

To Cash A/c 10,000

(Credit sale to Naresh)

(v) Cash A/c Dr. 15,000

To Babu A/c 15,000

(Cash Sales)

Rectify the following journal entries

Particulars L.F. Dr. Rs Cr. Rs

a Kumanan A/c Dr 10,000

To Cash A/c 10,000

(Salary paid to Kumanan)

b Senguttuvan A/c Dr 6,000

To Cash A/c 6,000

(Rent paid to Senguttuvan)

c Cash A/c Dr 2,000

To Sales A/c 2,000

(Furniture sold for cash)

d Cash A/c Dr 10,000

To Kumararaja A/c 10,000

(Goods sold to Kumararaja for cash)

e Manimaran A/c Dr 1,000

To Purchases A/c 1,000

(Goods taken by the proprietor Mr. Manimaran for his personal use)

The following errors were located at the time of preparing trial balance. Rectify them.
(a) A personal expense of the proprietor Rs 200 was debited to travelling expenses account.
(b) Goods of Rs.400 purchased from Ramesh on credit was wrongly credited to Ganesh’s account.
(c) An amount of Rs.500 paid as salaries to Mathi was debited to his personal account.
(d) An amount of Rs.2,700 paid for extension of the building was debited to repairs account.
(e) A credit sale of goods of Rs.700 on credit to Mekala was posted to Krishnan’s account.

A book-keeper finds that the debit column of the trial balance is short by Rs.308 and the difference is put to a suspense account. Subsequently, the following errors were located.
(a) An entry for sale of goods on credit for Rs 102 to Mekala was posted to her account as Rs.120.
(b) Rs.100 being the monthly total of discount allowed to customers was credited to discount received account in the ledger.
(c) Rs.275 paid by Mannan was credited to Kannan account.
(d) Rs. 26 appearing in the cash book as paid for the purchase of stationery for office use has not been posted to ledger.
(e) The purchases book was undercast by Rs.100.
Rectify the errors and prepare suspense account.
The following errors were located after the preparation of the trial balance. Rectify them.
(a) Paid Rs 50 to Anitha was wrongly debited to Vanitha account.
(b) Sale of furniture for Rs 500 was credited to sales account.
(c) Purchased goods from Natarajan on credit for Rs 750 were wrongly passed through sales book.
(d) Wages Rs 1,000 paid on erection of machinery was debited to wages account.

The accountant of a firm located the following errors before preparing the trial balance.Rectify them.
(a) Machinery purchased for Rs.3,000 was debited to purchases account.
(b) Interest received Rs.200 was credited to commission account.
(c) An amount of Rs.1,000 paid to Tamilselvan as salary was debited to his personal account.
(d) Old furniture sold for Rs.300 was credited to sales account.
(e) Goods worth Rs.800 purchased from Soundarapandian on credit was not recorded in the books of accounts.

Rectify the following errors which were located at the time of preparing the trial balance:
(a) The total of the discount column on the debit side of the cash book of Rs.225 was posted twice.
(b) Goods of the value of Rs.75 returned by Ponnarasan was not posted to his account.
(c) Cash received from Yazhini Rs.1,000 was not posted.
(d) Interest received Rs.300 has not been posted.
(e) Rent paid Rs.100 was posted to rent account as Rs.10.

An accountant could not tally the trial balance. The Difference of Rs 520 was temporarily placed to the credit of suspense account arid subsequently found the following errors.
(a) The total of the Discount column on the credit side of the cash book Rs 230 was not posted in the ledger.
(b) The total of the Discount column on the debit side of the cash book Rs 150 was omitted to be posted in the ledger.
(c) The total of the Purchases book was short by Rs 600.
(d) A sale of Rs 675 to Kannan was entered in the sales book as Rs 975.
(e) A sale of Rs 500 to Vimal has been entered in the purchase book.
Rectify the above errors through suspense account. Also give journal entries for rectification.

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			Rs	Rs
(i)	Purchases A/c	Dr.	5,000
	To Cash A/c			5,000
	(Purchase of furniture)
(ii)	Anbu A/c	Dr.	10,000
	To Cash A/c			10,000
	(Salary paid to Anbu)
(iii)	Raju A/c	Dr.	3,000
	To Cash A/c			3,000
	(Rent paid)
(iv)	Sales A/c	Dr.	10,000
	To Cash A/c			10,000
	(Credit sale to Naresh)
(v)	Cash A/c	Dr.	15,000
	To Babu A/c			15,000
	(Cash Sales)

	Particulars		Dr. Rs	Cr. Rs
a	Kumanan A/c	Dr	10,000
	To Cash A/c			10,000
	(Salary paid to Kumanan)
b	Senguttuvan A/c	Dr	6,000
	To Cash A/c			6,000
	(Rent paid to Senguttuvan)
c	Cash A/c	Dr	2,000
	To Sales A/c			2,000
	(Furniture sold for cash)
d	Cash A/c	Dr	10,000
	To Kumararaja A/c			10,000
	(Goods sold to Kumararaja for cash)
e	Manimaran A/c	Dr	1,000
	To Purchases A/c			1,000
	(Goods taken by the proprietor Mr. Manimaran for his personal use)

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Institutions

12th Standard English Medium

12th Standard Tamil Medium

11th Standard English Medium

11th Standard Tamil Medium

10th Standard English Medium

9th Standard English Medium

8th Standard English Medium

7th Standard English Medium

Class XII

Class XI

12Th Standard

11Th Standard

10Th Standard

9Th Standard

11th Accountancy Monthly Test - 1 ( Rectification of Errors )

MABS Institution

11th Accountancy Monthly Test - 1 ( Rectification of Errors )-Aug 2020

Part - A

Multiple Choice Question - Answer All Question

Which of the following errors will not affect the trial balance?

Cash received from Mani whose account was previously written off as a Bad debt should be credited _______________

Many business enterprises have shifted from manual accounting to ________________ accounting.

The total of purchases book was overcast. Which of the following accounts should be debited in the rectifying journal entry?

Rs. 60,000 paid on extension of building wrongly debited to repairs account. This is called the error of__________.

Suspense account is usually closed when ______.

A transaction not recorded at all is known as an error of

______________ is prepared to avoid the delay in the preparation of final accounts.

________ are those transactions which are not recorded as per the rules of debit and credit.

Casting errors are the result of _________.

Part - B

Generic 2 - Answer All Question

Rectify the following errors after preparation of trial balance: (a) Salary paid to Ram Rs.1,000 was wrongly debited to his personal account. (b) A credit sale of goods to Balu for Rs.450 was debited to Balan.

The following errors were detected before the preparation of trial balance. Rectify them. (a) Sales book is undercast by Rs 100 (b) Sales book is overcast by Rs 200 (c) Purchases book is undercast by Rs 300 (d) Purchases book is overcast by Rs 400

Is it necessary that a suspense account will balance off after rectification of the errors detected by the accountant? If not, then what happens to the balance still remaining in suspense account?

What is meant by error of complete omission?

The following errors were detected before preparation of trial balance. Rectify them. (a) Purchases returns book is undercast by Rs 500. (b) Purchases returns book is overcast by Rs 600. (c) Sales returns book is undercast by Rs 700. (d) Sales returns book is overcast by Rs 800.

What is meant by error of principle?

Rectify the following errors located after the preparation of trial balance: (a) Purchases book was undercast by Rs.900. (b) Sale of old furniture for Rs.1,000 was credited to sales account. (c) Purchase of goods from Arul for Rs.1,500 on credit was not recorded in the books

What do you mean by errors?

Part - C

Generic 3 - Answer All Question

What are the types of errors at the stage of posting?

Write a note on error of principle by giving an example

What are the errors not disclosed by a trial balance?

What are the types of errors at the stage of joumalising?

Pass the journal entries rectifying the following errors: (i) Purchases of office furniture of Rs 10,000 was recorded in Purchases book. (ii) Office rent of Rs 15,000 was debited to the personal account of the landlord. (iii) Old machine was sold for Rs 5,000 was credited to Sales account.

Part - D

Generic 5 - Answer All Question

Comment

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Rectify the following errors after preparation of trial balance:
(a) Salary paid to Ram Rs.1,000 was wrongly debited to his personal account.
(b) A credit sale of goods to Balu for Rs.450 was debited to Balan.

The following errors were detected before the preparation of trial balance. Rectify them.
(a) Sales book is undercast by Rs 100
(b) Sales book is overcast by Rs 200
(c) Purchases book is undercast by Rs 300
(d) Purchases book is overcast by Rs 400

The following errors were detected before preparation of trial balance. Rectify them.
(a) Purchases returns book is undercast by Rs 500.
(b) Purchases returns book is overcast by Rs 600.
(c) Sales returns book is undercast by Rs 700.
(d) Sales returns book is overcast by Rs 800.

Rectify the following errors located after the preparation of trial balance:
(a) Purchases book was undercast by Rs.900.
(b) Sale of old furniture for Rs.1,000 was credited to sales account.
(c) Purchase of goods from Arul for Rs.1,500 on credit was not recorded in the books

Pass the journal entries rectifying the following errors:
(i) Purchases of office furniture of Rs 10,000 was recorded in Purchases book.
(ii) Office rent of Rs 15,000 was debited to the personal account of the landlord.
(iii) Old machine was sold for Rs 5,000 was credited to Sales account.