30. Rectify the following errors: (i) Wages paid for the construction of office debited to the Wages Account, ₹5,000. (ii) Machinery purchased for ₹35,000 was passed through the Purchases Book. (iii) Old furniture sold for ₹1,000, passed through the Sales Book. (iv) ₹2,000 paid to Mehta Bros. were debited to Malhotra Bros. Account. (v) Sales … Read more
29. (i) What are the different causes that make a Trial Balance incorrect? (ii) Pass the rectifying Journal entries: (a) A credit sale of goods for ₹2,500 to Krishna has been wrongly passed through the Purchases Book. (b) ₹5,000 paid for freight on machinery purchased was debited to the Freight Account as ₹500. (c) The … Read more
28. Pass Journal entries to rectify the errors in the following cases: (i) A purchase of goods from David amounting to ₹150 has been wrongly passed through the Sales Book. (ii) A credit sale of goods oft ₹120 to Peter has been wrongly passed through the Purchases Book. (iii) ₹200, salary paid to Cashier, Bimal, … Read more
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