Class name Subject Book title Chapter number Content Created at
Class XI Accountancy Financial Accounting-I 5 5. (F) 6. (T) 7. (T) 8. (T) 9. (F) Reprint 2026-27
Class XI Accountancy Financial Accounting-I 6 180 Accountancy Trial Balance and Rectification of Errors n the earlier chapters, you have learnt about the I basic principles of accounting that f...
Class XI Accountancy Financial Accounting-I 6 the trial balance is usually prepared with the balances of accounts. Reprint 2026-27 Trial Balance and Rectification of Errors 181 Trial Balance of...
Class XI Accountancy Financial Accounting-I 6 ✓ • Land and Buildings ✓ • Plant and Machinery ✓ • Equipment ✓ • Furniture and Fixtures ✓ • Cash in Hand ✓ • Cash at Bank ✓ • Debtors ✓ • Bills Rec...
Class XI Accountancy Financial Accounting-I 6 of journal entries in the ledger, (3) calculating account balances, (4) carrying account balances to the trial balance, and (5) totalling the trial...
Class XI Accountancy Financial Accounting-I 6 the following three ways: (i) Totals Method (ii) Balances Method (iii) Totals-cum-balances Method 6.3.1 Totals method Under this method, total of e...
Class XI Accountancy Financial Accounting-I 6 in preparing the trial balance using: (i) Totals method, (ii) Balances method, (iii) Totals-cum-Balances method. Reprint 2026-27 Trial Balance and ...
Class XI Accountancy Financial Accounting-I 6 Cash 12,000 62,000 The trial balance under the three methods is illustrated below: (i) Trial Balance as at March 31, 2014 (Using Totals Method) Acc...
Class XI Accountancy Financial Accounting-I 6 totalling of the debit and credit balances in the trial balance. • Error in totalling of subsidiary books. • Error in posting of the total of subsi...
Class XI Accountancy Financial Accounting-I 6 trial balance. 6.4.3 Errors of Omission The errors of omission may be committed at the time of recording the transaction in the books of original e...
Class XI Accountancy Financial Accounting-I 6 These errors do not affect the trial balance. 6.4.5 Compensating Errors When two or more errors are committed in such a way that the net effect of ...
Class XI Accountancy Financial Accounting-I 6 the errors which do not affect the trial balance usually take place in two accounts in such a manner that it can be easily rectified through a jour...
Class XI Accountancy Financial Accounting-I 6 credited. Accordingly, recording usual entry for credit sales will rectify the error. Reprint 2026-27 Trial Balance and Rectification of Errors 193...
Class XI Accountancy Financial Accounting-I 6 (e) Rent paid ` 2,000 was wrongly shown as payment to landlord in the cash book: The effect of wrong posting has been: Landlord’s A/c Dr. 2,000 To ...
Class XI Accountancy Financial Accounting-I 6 error of posting to the correct account but on the wrong side; posting to the wrong side with the wrong amount; omitting to show an account in the ...
Class XI Accountancy Financial Accounting-I 6 The accountant tallies his trial balance by putting the difference on shorter side as ‘suspense account’. The process of opening of suspense accoun...
Class XI Accountancy Financial Accounting-I 6 trial balance are not located it is not possible to rectify them and tally the trial balance in such a situation, is shown in the Suspense account,...
Class XI Accountancy Financial Accounting-I 6 for ` 5,800 in full settlement of his account of ` 6,000, dishonoured but no entry made in books, now rectified) (iii) Khanna’s A/c Dr. 800 To Bad ...
Class XI Accountancy Financial Accounting-I 6 at all. (iv) ` 700 received from Khalil, a debtor, whose account had earlier been written-off as bad, were credited to his personal account. (v) Ca...
Class XI Accountancy Financial Accounting-I 6 One sided errors only. (b) Two sided errors only. (c) Both (a) and (b). (d) None of the above. (2) Which of the following is not an error of princi...
Class XI Accountancy Financial Accounting-I 6 debited to wages Account, it is: (a) An error of commission. (b) An error of principle. (c) A compensating error. (d) An error of omission. (8) Tri...
Class XI Accountancy Financial Accounting-I 6 or more errors committed in such a way that they nullify the effect of each other on the debits and credits. 5. Rectification of errors: Errors aff...
Class XI Accountancy Financial Accounting-I 6 of errors that are usually committed in recording business transaction. 5. As an accountant of a company, you are disappointed to learn that the to...
Class XI Accountancy Financial Accounting-I 6 21. Trial balance of Madan did not agree and he put the difference to suspense account. He discovered the following errors: (a) Sales return book o...
Class XI Accountancy Financial Accounting-I 6 Bill receivable received from a debtor ` 6,000 was not posted to his account. (d) Total of Returns inwards book ` 1,200 was posted to Returns outwa...