5. Rectify the following errors: Credit Sales to Mohan ₹7,000 were recorded in purchases book. Credit Purchases from Rohan ₹900 were recorded in sales book. Goods returned to Rakesh ₹4,000 were recorded in the sales return book. Goods returned from Mahesh ₹1,000 were recorded in purchases return book. Goods returned from Nahesh ₹2,000 were recorded … Read more
4. Rectify the following errors: Salary paid ₹5,000 was debited to employee’s personal account. Rent Paid ₹4,000 was posted to landlord’s personal account. Goods withdrawn by proprietor for personal use ₹1,000 were debited to sundry expenses account. Cash received from Kohli ₹2,000 was posted to Kapur’s account. Cash paid to Babu ₹1,500 was posted to … Read more
3. Rectify the following errors: Credit sales to Mohan ₹7,000 were recorded as ₹7,200. Credit purchases from Rohan ₹9,000 were recorded as ₹9,900. Goods returned to Rakesh ₹4,000 were recorded as ₹4,040. Goods returned from Mahesh ₹1,000 were recorded as ₹1,600. NCERT/Rationalised 2023-24/Numerical Questions/Q-03 Answer : Back
2. Rectify the following errors: Credit sales to Mohan ₹7,000 were recorded as ₹700. Credit purchases from Rohan ₹9,000 were recorded as ₹900. Goods returned to Rakesh ₹4,000 were recorded as ₹400. Goods returned from Mahesh ₹1,000 were recorded as ₹100. NCERT/Rationalised 2023-24/Numerical Questions/Q-02 Answer : Back
1. Rectify the following errors: Credit sales to Mohan ₹7,000 were not recorded. Credit purchases from Rohan ₹9,000 were not recorded. Goods returned to Rakesh ₹4,000 were not recorded. Goods returned from Mahesh ₹1,000 were not recorded. NCERT/Rationalised 2023-24/Numerical Questions/Q-01 Answer : Back
39. On April 1, 2019 Jain & Sons purchased a second-hand plant costing ₹2,00,000 and spent ₹10,000 on its overhauling. It also spent ₹5,000 on transportation and installation of the plant. It was decided to provide for depreciation @ 20% on written down value. The plant was destroyed by fire on Oct. 31, 2022 and … Read more
38. A Limited purchased a machine on 1st July 2017 for ₹3,00,000 and on 1st January 2019 bought another machinery for ₹2,00,000. On 1st August 2019 machine bought in 2017 was sold for ₹1,60,000. Another machine was bought for ₹1,50,000 on 1st October 2019. It was decided to provide depreciation @ 10% p.a. on written … Read more
37. A limited company purchased on 01-01-2017 a plant for ₹38,000 and spent ₹2,000 for carriage and brokerage. On 01-04-2018 it purchased additional plant costing ₹20,000. On 01-08-2019 the plant purchased on 01-01-2017 was sold for ₹25,000. On the same date, the plant purchased on 01-04-2018 was sold at a profit of ₹2,800. Depreciation is … Read more
36. The following balances appear in the books of M/s Amrit: 1st April, 2022 Machinery A/c ₹60,000 Provision for depreciation A/c ₹36,000 On 1st April, 2022, they decided to dispose off a machinery for ₹78,400 which was purchased on 1st April, 2018 for ₹16,000. You are required to prepare Machinery A/c, Provision for Depreciation A/c … Read more
35. On 1st Jan. 2017, Panjim Dryfruits Ltd. bought a plant for ₹15,00,000. The company writes off depreciation @ 20% p.a. on Written Down Value Method and closes its books on 3Ist March every year. On 1st Oct. 2019, a part of the plant purchased on 1st Jan. 2017 for ₹3,00,000 was sold for ₹1,75,000. … Read more