Question

Give the rectifying entries of the following:
(i) Sales of ₹ 20,000 to Manoj were recorded as ₹ 2,000 in the Sales Book.
(ii) An amount of ₹ 25,000 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 column of the Cash Book.
(iv) Goods of ₹ 3,000 sold to Mahesh were recorded in the Purchases Book.

Answer 1

Journal
Date	Particulars		L.F.	Debit Amount Rs	Credit Amount Rs
(i)	Monoj	Dr.		18,000
	To Sales A/c				18,000
	(Sales Rs 20,000 was recorded wrongly as Rs 2,000, now rectified)
(ii)	Machinery A/c	Dr.		25,000
	To Wages A/c				25,000
	(Amount spent on Installation of machinery was debited wrongly to Wages Account, now rectified)
(iii)	Ram & Co. A/c	Dr.		4,750
	To Discount Received A/c				4,750
	(Discount received from Ram & Co. not been entered in Cash Book, now rectified)
(iv)	Mahesh	Dr.		6,000
	To Sales A/c				3,000
	To Purchases A/c				3,000
	(Goods sold to Mahesh was recorded wrongly in Purchases Book now rectified)