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
37. The books of Ramesh did not agree. The difference of ₹12,700 in trial balance was placed to the debit of suspense account. Subsequently, the following errors were located. Pass journal entries to rectify the errors and prepare the suspense account: (i) The total of the purchases returns book, ₹2,100 has not been posted. (ii) … Read more
36. Pass journal entries to rectify the following errors. The trial balance had ₹1,260 excess credit. The difference has been posted to a suspense account: (i) The total of returns inwards book has been cast ₹2,000 short. (ii) The purchase of an office table costing ₹6,000 has been passed through the purchases day book. (iii) … Read more
35. During the course of an accounting year, an Accountant found a difference in the trial balance. He puts this difference in a newly opened suspense account. Subsequently, he located the following errors in his books of account: (i) Goods purchased from Shiv for ₹10,000, but entered in sales book (ii) Received a bill receivable … Read more
34. During the course of an accounting year, the accountant prepared a trial balance which did not tally. He put the difference in a suspense account. Subsequently, he located the following errors in his books of account: (i) The total of the returns outwards book, ₹21,500 has not been posted. (ii) A sale of ₹4,300 … Read more