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

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.



Click to View or Download pdf file
Click for more Accountancy Study Material

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

TV Channels for Students by CBSE

In enhancing the students studying part, the Government is planning to introduce one standard one channel plan. The lockdown in India has adversely collapsed all the operations including schools, colleges, and workplaces with unanticipated setbacks. On behalf of the...

Board Exams FAQs released by CBSE

CBSE has released very important FAQs for class 10 and class 12 students who have given the board exams. Students have been coming up with lot of queries and have lot of questions relating to what are the next steps of CBSE. The following FAQs by CBSE will help to...

Art Integrated Project work for classes 1 to 10

CBSE Board has decided to introduce Art-Integrated Project work for classes I to X to promote Art-Integrated Learning in schools to make teaching learning Competency-Based and joyful. As part of this, at least one Art-Integrated Project in each subject shall be taken...

Class 12 Board Exams Datesheet Announced

CBSE has announced the datesheet of the remaining class 12 board exams, see below:  

Critical notice issued by CBSE relating to Boards and other classes

Critical notice issued by CBSE relating to Boards and other classes

CBSE Board Results for Class 10 and Class 12

Anticipated CBSE result 2020 Date and Time: This is all you wish to know! Here is the news which all students are waiting for. The expected date and time for the CBSE Class X and XII Results 2020 can be viewed here by the students. CBSE Result 2020: The Central Board...

Studies Today