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Trading & Profit or Loss Account

Rectify the f...

Question

Rectify the following errors by passing entries:

(i) Rs.2,000 received from Ramesh wrongly entered as from Suresh.

(ii) The purchase Book was under cast by Rs.300.

(iii) Total of Sales return was under cast by Rs.500

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Solution

(i) Suresh Dr.2,000 and Ramesh Cr.2,000.

(ii) Purchase Dr.300 and Suspense Cr.300

(iii) Sales Return Dr.500 and Suspense Cr.500.

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Q. Rectify the following errors:
(i) The Sales Book of December was added short by ₹ 500.
(ii) A periodical total of the Purchases Book was cast short by ₹ 5,000.
(iii) The total of Purchases Return Book has been undercast by ₹ 1,500.
(iv) The Sales Return Book is added ₹ 200 short.

Rectify the following errors by passing entries:

(i) Credit sale of old furniture to Mohan for 1,500 was posted as 5,100.

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(iii) Sales Book has been totaled Rs.2,000 short.

Q. Pass the rectifying entries for the following
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(ii) Credit purchase of goods from Mohan amounting to ₹ 2,000 has been wrongly passed through the Sales Book.
(iii) Return of goods worth ₹ 500 by a customer was entered in ‘Purchases Return Book’.
(iv) Cheque of ₹ 400 received from Ranjan was dishonoured and debited to the Discount Account.
(v) Bill for ₹ 820 received from Ramesh for repair of machinery was entered in the Purchases Book as ₹ 720.

Q. Rectify the following errors by means of Journal entries:
(i) A cheque of ₹ 5,000 received from Ashish was dishonoured and was debited to Discount Account.
(ii) Purchase of ₹ 540 from Ramneek was written in Sales day book, but was correctly posted to correct side of Ramneek’s Account.
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(iv) Furniture costing ₹ 500, purchased from Jyoti, was wrongly entered in Purchase book as ₹ 450.

Q. Rectify the following errors by means of Journal entries:
(i) A cheque of ₹ 5,000 received from Ashish was dishonoured and was debited to Discount Account.
(ii) Purchases of ₹ 540 from Ramneek was written in Sales Book but was correctly posted to correct side to Ramneek's Account.
(iii) Salary paid to Miss Yugakshi ₹ 1,000 was debited to her Personal Account as ₹ 900.
(iv) Furniture costing ₹ 500, purchased from Jyoti, was wrongly entered in Purchases Book as ₹ 450.

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