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    CFN 9305 Accounts Question Paper PDF

    Uploaded by

    Divya Punjabi
    This document contains a test on rectification of errors with 4 questions: 1) Question 1 part A asks to provide journal entries to rectify 4 errors in the books. Part B asks to provide journal entries without narrations to rectify 4 other errors. 2) Question 2 part A describes 2 errors committed by an accountant and asks how they would be rectified before and after preparing trial balance and final accounts. 3) Part B asks to classify 4 errors into categories of omission, commission, and principle. 4) Part C defines an error of principle and how it affects the trial balance. Part D explains how to rectify an error located after preparing the trial balance.

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    CFN 9305 Accounts Question Paper PDF

    Uploaded by

    Divya Punjabi
    171 views2 pages
    This document contains a test on rectification of errors with 4 questions: 1) Question 1 part A asks to provide journal entries to rectify 4 errors in the books. Part B asks to provide journal entries without narrations to rectify 4 other errors. 2) Question 2 part A describes 2 errors committed by an accountant and asks how they would be rectified before and after preparing trial balance and final accounts. 3) Part B asks to classify 4 errors into categories of omission, commission, and principle. 4) Part C defines an error of principle and how it affects the trial balance. Part D explains how to rectify an error located after preparing the trial balance.

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    CFN 9305 ACCOUNTS QUESTION PAPER.pdf

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    This document contains a test on rectification of errors with 4 questions: 1) Question 1 part A asks to provide journal entries to rectify 4 errors in the books. Part B asks to provide journal entries without narrations to rectify 4 other errors. 2) Question 2 part A describes 2 errors committed by an accountant and asks how they would be rectified before and after preparing trial balance and final accounts. 3) Part B asks to classify 4 errors into categories of omission, commission, and principle. 4) Part C defines an error of principle and how it affects the trial balance. Part D explains how to rectify an error located after preparing the trial balance.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    171 views2 pages

    CFN 9305 Accounts Question Paper PDF

    Uploaded by

    Divya Punjabi
    This document contains a test on rectification of errors with 4 questions: 1) Question 1 part A asks to provide journal entries to rectify 4 errors in the books. Part B asks to provide journal entries without narrations to rectify 4 other errors. 2) Question 2 part A describes 2 errors committed by an accountant and asks how they would be rectified before and after preparing trial balance and final accounts. 3) Part B asks to classify 4 errors into categories of omission, commission, and principle. 4) Part C defines an error of principle and how it affects the trial balance. Part D explains how to rectify an error located after preparing the trial balance.

    Copyright:

    © All Rights Reserved
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    of 2

    CA FOUNDATION

    SUBJECT- ACCOUNTS
    Test Code – CFN 9305
    (Date :)
    (Marks - 20)
    TOPIC : Rectification of Errors

    QUESTION NO.1

    A. Give journal entries (with narrations) to rectify the following errors located in the
    books of a Trader after preparing the Trial Balance:
    (i) An amount of Rs. 4,500 received on account of Interest was credited to
    Commission account.
    (ii) A sale of Rs. 2,760 was posted from Sales Book to the Debit of M/s Sobhag Traders
    at Rs. 2,670
    (iii) Rs. 35,000 paid for purchase of Air conditioner for the personal use of proprietor
    debited to Machinery A/c.
    (iv) Goods returned by customer for Rs. 5,000. The same have been taken into stock
    but no entry passed in the books of accounts.
    (4 MARKS)

    B. Give journal entries (narrations not required) to rectify the following:


    (i) Purchase of Furniture on credit from Nigam for Rs. 3,000 recorded as
    purchase from Shubham as Rs. 300.
    (ii) A Sales Return of Rs. 5,000 to Jyothy was not entered in the financial
    accounts though it was duly taken in the stock book.
    (iii) Investments were sold for Rs. 75,000 at a profit of Rs. 15,000 and passed
    through Sales account.
    (iv) An amount of Rs. 10,000 withdrawn by the proprietor (Darshan) for his
    personal use has been debited to Trade Expenses account.

    (4 MARKS)
    QUESTION NO.2

    A. The following errors were committed by the Accountant of Geete Dye-Chem.


    (i) Credit sale of Rs. 400 to Trivedi & Co. was posted to the credit of their account.
    (ii) Purchase of Rs. 420 from Mantri & Co. passed through Sales Day Book as Rs. 240
    How would you rectify the errors assuming that :
    (a) they are detected before preparation of Trial Balance.
    (b) they are detected after preparation of Trial Balance but before preparing
    Final Accounts, the difference was taken to Suspense A/c.
    (c) they are detected after preparing Final Accounts

    (6 MARKS)
    B. Classify the following errors under the three categories – Errors of Omission, Errors of
    Commission and Errors of Principle.
    (i) Sale of furniture credited to Sales Account.
    (ii) Purchase worth Rs. 500 from M not recorded in subsidiary books.
    (iii) Credit sale wrongly passed through the Purchase Book.
    (iv) Machinery sold on credit to Mohan recored in Journal Proper but omitted to be
    posted.
    (2 MARKS)
    C. What is error of principle and how does it affect Trial Balance? (2 MARKS)
    D. How to rectify an error if located after preparing Trial Balance. (2 MARKS)

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