Question

Rectify the following errors assuming that there is no Suspense Account:
(i) The Returns Inward Book has been overcast by ₹ 200.
(ii) Purchases Book carried forward ₹ 75 less.
(iii) Sales Book carried forward ₹ 41 less on Page 10 and ₹ 43 more on Page 12.
(iv) Goods sold to Gautam were posted as ₹ 215 instead of ₹ 251.

Answer 1

(i)

Return Inwards Book
Dr.								Cr.
Date	Particulars	L.F.	Amount Rs	Date	Particulars	L.F.	Amount Rs
					Over Casting of Return Inwards Book		200

(ii)

Purchases Account
Dr..								Cr.
Date	Particulars	L.F.	Amount Rs	Date	Particulars	L.F.	Amount Rs
	Carry forwarding of Purchases Book Less		75

(iii)

Sales Account
Dr.								Cr.
Date	Particulars	L.F.	Amount Rs	Date	Particulars	L.F.	Amount Rs
	Net Carry forwarding of Sales Book excess		2

(iv)

Sales Account
Dr.							Cr.
Date	Particulars	L.F.	Amount Rs	Date	Particulars	L.F.		Amount Rs
					Difference in the amount posted			36

Gautam Account
Dr.								Cr.
Date	Particulars	L.F.	Amount Rs	Date	Particulars	L.F.	Amount Rs
	Difference in the amount posted		36