NCERT Solutions Class 11 Accountancy Chapter 6 Trial Balance and Rectification of Errors

Scroll down for PDF

NCERT Solutions class 11 Accountancy Chapter 6 Trial Balance and Rectification of Errors. NCERT book for Accountancy in class 11 is strongly recommened by teachers and the CBSE and NCERT boards. Please download the NCERT solutions for class 11 Accountancy free in PDF made by teachers of the best schools in India. These solutions are carefully compiled to give detailed understanding of the concepts and also steps of solutions. The NCERT solutions are free to download in pdf format. Please refer to the download link below to download the pdf file and also refer to other chapters and subjects to get the solutions to Accounts NCERT book questions and exercises.

Q1. State the meaning of a Trial Balance.

Solution: Trial balance is a statement prepared to check the arithmetical accuracy of transactions recorded in the journal, posted into the ledger and balanced in the ledger accounts. The balance of ledger accounts shows the difference between the total of the debit items and credit items in an account. Personal, real and nominal accounts are considered for preparing the trial balance. Generally, it is prepared at the end of an accounting year. However, it may be prepared at the end of any chosen period, which may be monthly, quarterly, half yearly or annually depending upon when it is required. It helps in the preparation of the financial statements.

Q2. Give two examples of errors of principle?

Solution: Generally accepted accounting principles are to be followed to record the accounting entries. When accounting entries are recorded in contravention of accounting principles, it is known as an error of principle.

1. Wages paid for installation of new machinery debited to wages account:

2. Wages paid for installation of new machinery is a capital expenditure and accordingly machinery account should have been debited. But, here it is treated as revenue expenditure and is debited to wages account. Thus, it violates the accounting principle.

3. Amount spent on repair of building debited to machinery account: Expense on repair is revenue expenditure and not a capital expenditure. The amount should have been debited to repairs account and to the machinery account which is a capital account. Thus, it violates the accounting principle.

Q3. Give two examples of errors of commission?

Solution: Errors of commission are committed because of wrong recording, wrong posting, wrong balancing and wrong casting of subsidiary books. Such errors affect the accuracy of the trial balance. Cash received from a creditor worth Rs.5,000 is recorded in the cash book as Rs.500.

The transaction is recorded in the cashbook as Rs.500 instead of Rs.5,000. This is an error because of the wrong recording of amount in the cash book. 1. Amount received from Arun Rs.2,000, is wrongly posted in Tarun’s account. In this transaction, Tarun’s A/c is credited instead of Arun’s A/c. This is referred to as an error of wrong posting of transactions.

Please click on link below to download NCERT Solutions class 11 Accountancy Chapter 6 Trial Balance and Rectification of Errors.

Tags: 


Click on the text For more study material for Accountancy please click here - Accountancy

Latest NCERT & CBSE News

Read the latest news and announcements from NCERT and CBSE below. Important updates relating to your studies which will help you to keep yourself updated with latest happenings in school level education. Keep yourself updated with all latest news and also read articles from teachers which will help you to improve your studies, increase motivation level and promote faster learning

CBSE class 10, 12 board exam important information

CBSE class 10, 12 board exam: important information to prevent problems for students : The Central Board of Secondary Education (CBSE) has issued an advisory for the students of class 10 and class 12 board. As per the notice, the registration of students appearing in...

CBSE Board Exam 2020 Major developments

CBSE Board Exam 2020: Major developments for Class 9th, 10th, 11th and 12th | Check details : CBSE board exam 2020: Here are all the major decisions that the CBSE (Central Board of Secondary Education) has taken for Classes 9th, 10th, 11th and 12th. In the last 2...

CBSE Class 10 Board Exam 2020

CBSE Class 10 Board Exam 2020: Problems Students May Face In Choosing Subject The Central Board of Secondary Education (CBSE) class 10 board examination will start from February 2020. The Central Board of Secondary Education (CBSE) has started the process of filling...

CBSE Board Exams 2020 Attendance rules revised for Class 10 and 12 students

CBSE Board Exams 2020: Attendance rules revised for Class 10, 12 students : The Central Board of Secondary Education (CBSE) has announced new rules to deal with the cases of short attendance of students of all its affiliated schools. The board has issued a set of...

Sample Papers for Class 12 Boards 2020

CBSE has released the final sample papers for the class 12 boards exams as per the new pattern as per which the question papers are expected to come in the 2020 board exams for class 12. The sample papers have been for class 12 for all subjects along with the suggested...

Vidya Daan by CBSE

CBSE has launched a new initiative to provide free of cost quality education to students in rural areas. CBSE has named that initiative “Vidya Daan”. Lot of reforms are been continuously done by CBSE so that the teachers can offer a personalized experience to students...

×
Studies Today