[ISC] Q 37 Rectification of Errors Solution TS Grewal Class 11 (2023-24)

Solution of solution of Question number 37 of Rectification of Errors TS Grewal class 11 ISC 2023-24?

An accountant could not tally the Trial Balance. The difference was temporarily placed to Suspense Account for preparing the final accounts. The following errors were discovered later:

(i) The Sales Book was undercast by ₹ 530.

(ii) Entertainment expenses ₹ 95 though correctly entered in the Cash Book were omitted to be posted in the Ledger.

(iii) Commission of ₹ 25 paid was posted twice, once to Discount Account and then to Commission Account.

(iv) A sale of ₹ 139 to Ramnath, though correctly entered in the book was posted wrongly to his account as ₹ 193.

You are required to pass necessary rectifying Journal entries in teh books of the next accounting year so as not to affect the profit of that year.

Solution:-

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