4. Pass the necessary Journal entries to rectify the following errors: (i) Credit sale of ₹5,700 to Mohan was recorded as ₹7,500. (ii) Credit sale of ₹8,500 to Sohan was recorded as sale to Mohan. (iii) Credit sale of ₹8,500 to Meenu was recorded as sale to Meena as ₹5,800. (iv) Credit sale of ₹8,500 … Read more
3. How will you rectify the following errors? (i) Sales Book is overcasted by ₹15,000. (ii) Sales Return Book is short casted by ₹3,500. (iii) Balance of Sales Book is carried forward in excess by ₹2,000. T.S.Grewal/2024 Edition/Practical Problems/Q-03 For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook … Read more
2. How will be the following errors rectified? (i) Sales Book is short casted by ₹20,000. (ii) Sales Return Book is short casted by ₹2,000. (iii) Balance of Sales Book is carried forward short by ₹2,000. (iv) Balance of Sales Return Book is carried forward short by ₹500. T.S.Grewal/2024 Edition/Practical Problems/Q-02 For full question, please … Read more
1. How will be the following errors rectified? (i) Purchases Book is overcasted by ₹10,000. (ii) Purchases Return Book is overcasted by ₹10,000. (iii) Purchases Return Book’s balance is carried forward in excess by ₹2,000. (iv) Purchases Book’s balance is carried forward in excess by ₹5,000. Note: The above errors have been identified before the … Read more
25. Trial balance of John did not agree. He put the difference to suspense account and discovered the following errors: In the sales book for the month of January total of page 2 was carried forward to page 3 as ₹1,000 instead of ₹1200 and total of page 6 was carried forward to page 7 … Read more
24. Trial balance of Khatau did not agree. He put the difference to suspense account and discovered the following errors: Credit sales to Manas ₹16,000 were recorded in the purchases book as ₹10,000 and posted to the debit of Manas as ₹1,000. Furniture purchased from Noor ₹6,000 was recorded through purchases book as ₹5,000 and … Read more
23. Give journal entries to rectify the following errors assuming that suspense account had been opened. Goods distributed as free sample ₹5,000 were not recorded in the books. Goods withdrawn for personal use by the proprietor ₹2,000 were not recorded in the books. Bill receivable received from a debtor ₹6,000 was not posted to his … Read more
22. Trial balance of Kohli did not agree and showed an excess debit of ₹16,300. He put the difference to a suspense account and discovered the following errors: Cash received from Rajat ₹5,000 was posted to the debit of Kamal as ₹6,000. Salaries paid to an employee ₹2,000 were debited to his personal account as … Read more
21. Trial balance of Madan did not agree and he put the difference to suspense account. He discovered the following errors: Sales return book overcast by ₹800. Purchases return to Sahu ₹2,000 were not posted. Goods purchased on credit from Narula ₹4,000 though taken into stock, but no entry was passed in the books. Installation … Read more
20. Trial balance of Raju showed an excess debit of ₹10,000. He put the difference to suspense account and discovered the following errors: Depreciation written-off the furniture ₹6,000 was not posted to Furniture account. Credit sales to Rupam ₹10,000 were recorded as ₹7,000. Purchases book undercast by ₹2,000. Cash sales to Rana ₹5,000 were not … Read more