47. Pass journal entries to rectify the following errors using suspense account where necessary: (i) Goods of the value of 2,000 returned by Mr. Gupta were entered in the Sales Book and posted therefrom to the credit of his account. (ii) Goods worth 1,500 bought by the proprietor for his personal use without any payment … Read more
46. Pass necessary journal entries to rectify the following errors: (a) Sales Return book overcast ₹1,000. (b) Machinery purchased ₹9,600 from Kunal, wrongly entered in Purchase Book as ₹6,900. (c) Goods purchased from Rahul ₹5,000 wrongly entered in purchase return book. Although, Rahul’s account correctly credited. (d) Rent paid to Landlord ₹12,000, wrongly debited to … Read more
45. Pass Journal Entries to rectify the following errors: These errors are located after the preparation of Trial Balance. ₹17,000 paid in cash for purchase of a Typewriter was charged to office expenses account. Credit sale to Aman ₹5,000 were posted to the Credit of his account. Cash sales ₹20,000 were posted to commission received … Read more
44. Pass journal entries to rectify the following errors in the books of Manish, which were located after preparation of Trial Balance: (a) Goods of the value ₹5,000 returned by Aanchal were entered in the Sales Book and posted therefrom to the credit of her account. (b) Payment of ₹1,000 to Ramesh and ₹1,200 to … Read more
43. Rectify the following errors found in the books of Mr. Aryan by passing entries: (i) The purchase of ₹610 from Kabir was entered into sales book but Kabir’s personal account was rightly credited. (ii) Sale of old furniture of ₹2,500 was credited to sales account as ₹250. (iii) An item of ₹500 relating to … Read more
42. Rectify the following errors found in the books of Mr. Suhail by passing entries: (i) One item of purchase of ₹250 has been posted from the purchases book to the ledger as ₹350. (ii) Sales return of ₹2,000 from a party has not been posted to that account, though the party’s account has been … Read more
41. Pass journal entries to rectify the following errors detected during preparation of Trial Balance: (i) Purchases book is undercast by ₹1,000. (ii) Wages paid for construction of office debited to wages account ₹20,000. (iii) A credit sale of goods ₹1,200 to Ramesh has been wrongly passed through the purchase book. (iv) Goods purchased for … Read more
40. Rectify the following errors (a) ₹500 paid for the purchases of Radio set for the proprietor debited to General expenses account. (b) Goods sold to Ram for ₹300 have been entered in the purchase book. However the account of Ram stands correctly posted. (c) An amount of ₹50 paid to Kewal has been credited … Read more
39. Pass Journal entries to rectify the following errors which were located after preparing the Trial Balance: (a) The Sales Book was overcast by ₹500. (b) Credit purchases from Aradhya ₹6,000 were posted to the debit of her account as ₹9,000. (c) Goods returned from Ayan ₹8,000 were recorded in Purchases Return Book. (d) Wages … Read more
38. Rectify the following errors by passing Journal entries: (i) Old furniture sold for ₹500 has been credited to Sales Account. (ii) Machinery purchased on credit from Raman for ₹2,000 recorded through Purchases Book as ₹16,000. (iii) Cash received from Rajat ₹5,000 was posted to the debit of Bhagat as ₹6,000. (iv) Depreciation provided on … Read more