Question

How will you rectify the following errors?
(i) ₹ 500 spent on building repairs has been debited to the Building Account.
(ii) Furniture worth ₹ 5,000 purchased from X on credit omitted from being recorded in the books.
(iii) Total of Returns Inward Book was added by ₹ 200 instead of ₹ 250.
(iv) Goods purchased from Mohan for ₹ 5,000 was passed through Returns Inward Book.
(v) Goods returned to Ram was passed through Sales Book.
(vi) Bills payable of ₹ 5,000 accepted in favour of Murari, was passed through bills receivable book with ₹ 500 but Murari's account was correctly debited.

Answer 1

Journal
Date	Particulars		L.F.	Debit Amount Rs	Credit Amount Rs
(i)	Repair A/c	Dr.		500
	To Building A/c				500
	(Repair of building was debited wrongly to Building Account, now rectified)
(ii)	Furniture A/c	Dr.		5,000
	To X				5,000
	(Furniture purchased from X was omitted to be recorded, now recorded)
(iii)	Returns Inward A/c	Dr.		50
	To Suspense A/c				50
	(Returns Inward Book was added short, now rectified)
(iv)	Purchases A/c	Dr.		5,000
	To Returns Inward A/c				5,000
	(Goods purchased from Mohan wrongly passed through Returns Inward Book, now rectified)
(v)	Sales A/c	Dr.		-----
	To Purchases Return A/c				----
	(Goods returned to Ram wrongly passed through Sales Book, now rectified)
(vi)	Suspense A/c Dr. To Bills Receivable A/c To Bills Payable A/c (Bills Payable accepted in favour of Murari, wrongly debited to Bills Receivable as Rs.500, now rectified)			5,500	500 5,000