13. Rectify the following errors which were detected before preparing the Trial Balance: (i) Purchase book has been overcast by ₹1,000. (ii) Purchase from Ram ₹20,000 has been omitted to be posted to his account. (iii) Purchase from Shyam ₹15,000 has been posted to the debit side of his account. (iv) Purchase from Ghanshyam ₹10,000 … Read more
12. Pass rectifying entries: (i) ₹5,000 being the cost of a Radio purchased for the personal use of the proprietor has been debited to Radio account in the ledger. (ii) Goods taken by the proprietor for ₹1,000, has not been entered in the books at all. (iii) A cheque of ₹500 received from X was … Read more
11. Rectify the following errors: ₹4,500 spent on the extension of Buildings were debited to Repairs A/c. Wages paid to the firm’s own workmen ₹3,600 for the installation of a new machinery were posted to Wages Account. Contractor’s bill for the construction of a godown at a cost of ₹10,000 has been charged to ‘Repairs’ … Read more
10. Pass Journal Entries to rectify the following errors: (1) Machinery purchased for ₹5,000 has been debited to Purchases A/c. (2) ₹700 paid to Sh. Mohan Kapoor as Legal Charges were debited to his personal account. (3) ₹10,000 paid to Escorts Company for Machinery purchased stand debited to Escorts Company account. (4) Typewriter purchased for … Read more
9. Rectify the following errors: (a) Furniture purchased for ₹10,000 wrongly debited to Purchases Account. (b) Machinery purchased on credit from Raman for ₹20,000 was recorded through Purchases Book. (c) Repairs on machinery ₹1,400 debited to Machinery Account. (d) Repairs on overhauling of second-hand machinery purchased ₹2,000 was debited to Repairs Account. (e) Sale of … Read more
8. Rectify the following errors A sale of goods to Raja Ram for ₹2,500 was passed through the Purchases Book. Salary of ₹800 paid to Hari Babu was wrongly debited to his personal account. Furniture purchased on credit from Mohan Singh for ₹1,000 was entered in the Purchases Book. ₹5,000 spent on the extension of … Read more
7. Give Journal Entries to rectify the following errors: Goods purchased from Ajay for ₹2,600 were recorded in Sales Book by mistake. Goods for ₹4,400 sold to Surendra was passed through Purchase Book. A customer returned goods worth ₹1,000. It was recorded in Purchase Return Book’. A credit sale of ₹126 to Rajesh was entered … Read more
6. Rectify the following errors: (i) Sold old furniture to A for ₹11,500 was passed through the Sales Book. (ii) Credit purchases of ₹12,000 from Ojas omitted to be recorded in the books. (iii) Repairs made were debited to Building Account ₹7,000. (iv) Credit sale of ₹1,800 to Avikan was recorded as ₹8,100. (v) ₹6,000 … Read more
5. Rectify the following errors (i) Goods for ₹5,500 were purchased from Modern Traders on credit, but no entry has yet been passed. (ii) Purchase Return for ₹1,500 not recorded in the books. (iii) Goods for ₹2,000 sold to Geeta Traders’ on Credit were entered in the sales book as ₹200 only. (iv) Goods of … Read more
4. Give rectifying entries for the following: (i) A credit sales of goods to Ram ₹2,500 has been wrongly passed through the ‘Purchases Book’. (ii) A credit purchase of goods from Shyam amounting to ₹1,000 has been wrongly passed through the ‘Sales Book’. (iii) A return of goods worth ₹1,100 to Mohan was passed through … Read more