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

MABS Institution

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

Time : 1.30 Hours

Part - A

Multiple Choice Question - Answer All Question

Goods of Rs. 5000 purchased from Mr.B were recorded in sales book, the rectification of this error will________.

Increase the gross profit
Reduce the gross profit
Have no effect on gross profit
None of the above

Suspense account is usually closed when ______.

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

Wages paid for installation of machinery wrongly debited to wages account is an error of

Partial omission
Principle
Complete omission
Duplication

The errors can be classified into ________ types.

one
Two
Three
Four

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

Journal
Ledger
Computerised
None of these

Which of the following errors will be rectified using suspense account?

Purchases returns book was undercast by Rs.100
Goods returned by Narendran was not recorded in the books
Goods returned by Akila 900 was recorded in the sales returns book as Rs.90
A credit sale of goods to Ravivarman was not entered in the sales book

The total of salary account is carried forward Rs. 1200 excess _________.

Errors in carry forward
Errors in posting
Errors in casting
Errors of commission

The difference in trial balance is taken to

The capital account
The trading account
The suspense account
The profit and loss 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

Goods taken by the Proprietor for domestic use should be credited to ______________

Proprietor's drawings account
Sales account
Purchases account
Suspense account

Part - B

Generic 2 - Answer All Question

Rectify the following errors before the preparation of trial balance:
(a) Returns outward book was undercast by Rs.2,000
(b) Returns inward book total was taken as Rs.15,000 instead of Rs.14,000
(c) The total of the purchases account was carried forward Rs.100 less

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.

The following errors were located after the preparation of trial balance. Pass journal entries to rectify them. Assume that there exists a suspense account.
(a) The total of sales book was undercast by Rs.350.
(b) The total of the discount column on the debit side of cash book Rs.420 was not posted.
(c) The total of one page of the purchases book of Rs.5,353 was carried forward to the next page as Rs.5,533.
(d) Salaries Rs.2,400 was posted as Rs.24,000.
(e) Purchase of goods from Sembiyanmadevi on credit for Rs.180 was posted to her account as Rs.1,800
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.

What is error of omission?

Part - C

Generic 3 - Answer All Question

Write a note on suspense account

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 types of errors at the stage of joumalising?

The following errors were located before the preparation of the trial balance. Rectify them.
(a) Paid Rs 500 to Angappan were wrongly debited to Angannan’s account.
(b) Sale of furniture for Rs 750 was credited to sales account.
(c) Purchase of goods from Bagya for Rs 2,100 was wrongly passed through sales book.
(d) Wages Rs 1,000 paid on erection of machinery were debited to wages account.

Part - D

Generic 5 - Answer All Question

The book-keeper of a firm found that the trial balance was out by Rs.922 (excess credit).He placed the amount in the suspense account and subsequently found the following errors:
(a) The total of discount column on the credit side of the cash book Rs.78 was not posted in the ledger.
(b) The total of purchases book was short by Rs.1,000.
(c) A credit sale of goods to Natarajan for Rs.375 was entered in the sales book as Rs.735.
(d) A credit sale of goods to Mekala for Rs.700 was entered in the purchases book.
You are required to give rectification entries and prepare suspense account.

Rectify the following journal entries.

Particulars L.F. Dr. Cr.

a Purchases A/c Dr 5,000

To Cash A/c 5,000

(Furniture purchased for cash)

b Nila A/c Dr 8,000

To Cash A/c 8,000

(Salary paid to Nila)

c Kuralamudhu A/c Dr. 2,000

To Cash A/c 2,000

(Rent paid to Kuralamudhu)

d Cash A/c Dr 9,000

To Sales A/c 9,000

(Furniture sold for cash)

e Cash A/c Dr 6,000

To Kothaimalar A/c 6,000

(Goods sold to Kothaimalar for cash)

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.

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.
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.

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	Particulars	L.F.	Dr.	Cr.
a	Purchases A/c	Dr	5,000
	To Cash A/c			5,000
	(Furniture purchased for cash)
b	Nila A/c	Dr	8,000
	To Cash A/c			8,000
	(Salary paid to Nila)
c	Kuralamudhu A/c	Dr.	2,000
	To Cash A/c			2,000
	(Rent paid to Kuralamudhu)
d	Cash A/c	Dr	9,000
	To Sales A/c			9,000
	(Furniture sold for cash)
e	Cash A/c	Dr	6,000
	To Kothaimalar A/c			6,000
	(Goods sold to Kothaimalar for cash)

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

MABS Institution

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

Part - A

Multiple Choice Question - Answer All Question

Goods of Rs. 5000 purchased from Mr.B were recorded in sales book, the rectification of this error will________.

Suspense account is usually closed when ______.

Wages paid for installation of machinery wrongly debited to wages account is an error of

The errors can be classified into ________ types.

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

Which of the following errors will be rectified using suspense account?

The total of salary account is carried forward Rs. 1200 excess _________.

The difference in trial balance is taken to

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

Goods taken by the Proprietor for domestic use should be credited to ______________

Part - B

Generic 2 - Answer All Question

Rectify the following errors before the preparation of trial balance: (a) Returns outward book was undercast by Rs.2,000 (b) Returns inward book total was taken as Rs.15,000 instead of Rs.14,000 (c) The total of the purchases account was carried forward Rs.100 less

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 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.

What is error of omission?

Part - C

Generic 3 - Answer All Question

Write a note on suspense account

Write a note on error of principle by giving an example

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

Part - D

Generic 5 - Answer All Question

Comment

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Rectify the following errors before the preparation of trial balance:
(a) Returns outward book was undercast by Rs.2,000
(b) Returns inward book total was taken as Rs.15,000 instead of Rs.14,000
(c) The total of the purchases account was carried forward Rs.100 less

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 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.