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Question

Mr. Raj, an electronic goods dealer, gifted a microwave of value Rs.30,000 to his friend Rohan and recorded it in books as drawings. Is he correct?

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Solution

Yes, he is correct,.it will be treated as drawings and will be recorded in the books.


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Q.

Rectify the following errors:

(a)

Credit Sales to Mohan Rs 7,000 were recorded in purchases book.

(b)

Credit Purchases from Rohan Rs 900 were recorded in sales book.

(c)

Goods returned to Rakesh Rs 4,000 were recorded in the sales return book.

(d)

Goods returned from Mahesh Rs 1,000 were recorded in purchases return book.

(e)

Goods returned from Nahesh Rs 2,000 were recorded in purchases book.

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