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Standard XI
Accountancy
Rectification for Error of Commission
Following bal...
Question

Following balances appeared in the books of Miss Sonali as on April 1, 2011.
Particulars
Debit Balance
Rs
Credit Balance
Rs
Cash A/c
3,000
Sanjay A/c
2,000
Vijay A/c
5,000
Capital A/c
10,000
Machinery A/c
8,000
Outstanding Wages A/c
500
Bank A/c
2,500
15,500
15,500
Transactions:
2011 Apr.
1
2
6
8
10
15
20
21
30
Cash Sales Rs 4000.
Cash Purchases Rs 1,500.
Sold goods on credit to Sanjay Rs 1,800.
Purchased goods on credit from Vijay Rs 700.
Brought additional Capital in Cash Rs 8,000.
Paid Outstanding wages in full.
Received cash from Sanjay Rs 3,600.
Paid cash Rs 5,500 to Vijay in full settlement of his A/c.
Paid cash into Bank in excess of Rs 1,100.
(i) Prepare necessary ledger accounts and balance them. ii) Prepare statement of debit and credit balances.

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Solution

Cash Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
April
2011
April
2011
1
Balance b/d
3,000
2
Purchases A/c
1,500
1
Sales A/c
4,000
15
Wages A/c
500
10
Capital A/c
8,000
21
Vijay’s A/c
5,500
20
Sanjay A/c
3,600
30
Bank A/c*
10,000
30
Balance c/d*
1,100
18,600
18,600

Sanjay’s Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
April 2011
April 2011
1
Balance b/d
2,000
20
Cash A/c
3,600
6
To Sales A/c
1,800
30
Balance c/d
200
3,800
3,800

Vijay’s Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
April 2011
April 2011
21
Cash A/c
5,500
1
Balance b/d
5,000
30
Discount Received A/c (Balancing figure)
200
8
Purchase A/c
700
5,700
5,700

Capital Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
April 2011
April 2011
30
Balance c/d
18,000
1
Balance b/d
10,000
10
Cash A/c
8,000
18,000
18,000

Machinery Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
April 2011
April 2011
1
Balance b/d
8,000
30
Balance c/d
8,000
8,000
8,000

Outstanding Wages Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
April 2011
April 2011
15
Cash A/c
500
1
Balance b/d
500
500
500

Bank Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
April 2011
April 2011
1
Balance b/d
2,500
30
Balance c/d
12,500
30
Cash A/c
10,000
12,500
12,500

Sales Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
April 2011
April 2011
30
Balance c/d
5,800
1
Cash A/c
4,000
6
Sanjay A/c
1,800
5,800
5,800

Purchases Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
April 2011
April 2011
1
Cash A/c
1,500
30
Balance c/d
2,200
8
Vijay A/c
700
2,200
2,200

Discount Received Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
April 2011
April 2011
30
Balance c/d
200
30
Vijay A/c
200
200
200

*The balance in the cash account is Rs 11,100 out of which Rs 1,100 are to be kept as balance c/d and rest is transferred to Bank account.

Trial Balance (Statement of Debit and Credit Balances)

Particulars
Debit
Amount
(Rs)
Credit
Amount
(Rs)
Cash A/c
1,100
 –
Sanjay’s A/c
200
 –
Vijay A/c
 – –
Capital A/c
 –
18,000
Machinery A/c
8,000
 –
Bank A/c
12,500
 –
Sales A/c
5,800
Purchases A/c
2,200
 –
Discount Received A/c
200
24,000
24,000

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3
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14
Purchased goods from Bhushan Rs 30,000 at 10% Trade Discount and paid him 1/3rd amount in cash after getting 5% cash discount.
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Payment of Bank loan with interest Rs 6,000 [Interest amount Rs 1,500]
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