27. Rectify the following errors: (i) Sales Book has been totalled ₹1,000 short. (ii) Goods worth ₹1,500 returned by Green & Co, have not been recorded anywhere. (iii) Goods purchased worth ₹2,500 have been posted to the debit of the supplier, Gupta & Co. (iv) Furniture purchased from Gulab & Co. worth ₹10,000 has been … Read more
26. Pass Journal entries rectifying the following errors: (i) A cheque for ₹20,000 was received from Ranjan on which ₹200 Cash Discount was allowed. The cheque was not honoured on due date and the amount of discount was credited to Discount Received Account. (ii) ₹5,000 paid as wages for machinery installation was debited to Wages … Read more
25. Give rectifying entries for the following: (i) ₹5,400 received from A was posted to the debit of his account. (ii) The total of Sales Return Book overcasted by ₹800. (iii) ₹2,740 paid for repairs to motor car was debited to Motor Car Account as ₹1,740. (iv) Returned goods to Shyam ₹1,500 were passed through … Read more
24. Give rectifying Journal entries for the following errors: (i) Sales of goods to Madan ₹6,000 were entered in the Sales Book as ₹600. (ii) Credit purchase of ₹1,500 from Ajay has been wrongly passed through the Sales Book. (iii) Repairs to building ₹300 were debited to Building Account. (iv) ₹2,050 paid to Rohit is … Read more
23. Pass the rectifying entries for the following: (i) Sales of goods ₹6,000 to Madan were recorded as ₹600 in the Sales Book. (ii) Credit purchase of goods from Mohan amounting to ₹2,000 has been wrongly passed through the Sales Book. (iii) Return of goods worth ₹500 by a customer was entered in Purchases Return … Read more
22. Mukesh found that the Trial Balance did not agree. He found the following errors: (i) In the Sales Book for the month of January, total of Page No. 3 was carried forward to Page No. 4 as ₹1,000 instead of ₹1,200 and total of Page No. 7 was carried forward to Page No. 8 … Read more
21. Rectify the following errors: (i) Purchases Book is overcast by ₹500. (ii) Salary paid to an employee, Ajay, is debited to his Personal Account ₹3,000 (iii) Goods sold to Shashi on credit ₹300 have been wrongly passed through the Purchases Book. (iv) Total of Returns Inward Book has been added ₹9 short (v) Purchase … Read more
20. Rectify the following errors: (i) Total of one page of the Sales Book was carried forward to the next page as ₹2,785 instead of ₹2,587. (ii) A cheque of ₹400 received from Mohan was dishonoured and had been posted to the debit side of the Allowance Account. (iii) Return of goods worth ₹5,000 by … Read more
19. Pass the Journal entries rectifying the following errors: (i) Purchases of ₹20,000 was omitted to be recorded. (ii) Purchases of office furniture of ₹10,000 was recorded in Purchases Book. (iii) Office Rent of ₹15,000 was debited to the Personal Account of the landlord. (iv) Old machine sold for ₹7,000 was credited to Sales Account. … Read more
18. Give the rectifying entries of the following: (i) Sales of ₹20,000 to Sunil was recorded as ₹2,000 in the Sales Book. (ii) An amount of ₹35,000 spent for the extension of machinery has been debited to the Wages Account. (iii) Discount received from Ram & Co. ₹350, has not been entered in the discount … Read more