Question

Rectify the following errors.

(i) A credit purchases of Rs. 3,120 from Vihan was passed in the books as Rs. 4,200.

(ii) Goods (cost Rs. 2,500 sales price Rs. 3,000) distributed as free samples among prospective customers were not recorded.

(iii) Wages paid to the firm's workmen for making additions to machinery to Rs. 1,050 were debited to the wages account.

Answer 1

$\begin{array}{c}\text{Rectification Entries in Journal}\end{array}$

$\begin{array}{ccccc}\text{Date}& \text{Particulars}& \text{LF}& \text{Amt (Dr)}& \text{Amt (Cr)}\\ \text{(i)}& \text{Vihan's A/c}\text{Dr}& & \text{1,080}& \\ & \text{To Purchases A/c}& & & \text{1,080}\\ & \text{(The rectification of a purchase of Rs.}& & & \\ & \underset{–}{\text{3,120 from Vihan passed as Rs. 4,200)}}& & & \\ \text{(ii)}& \text{Free Samples A/c}\text{Dr}& & \text{2,500}& \\ & \text{To Purchases A/c}& & & \text{2,500}\\ & \text{(The goods distributed as free samples}& & & \\ & \underset{–}{\text{omitted to be recorded, now recorded)}}& & & \\ \text{(iii)}& \text{Plant and Machinery A/c}\text{Dr}& & \text{1,050}& \\ & \text{To Wages A/c}& & & \text{1,050}\\ & \text{(The wages for additions to machinery}& & & \\ & \text{(wrongly treated as revenue expenditure,}& & & \\ & \text{now rectified by capitalising the same)}& & & \end{array}$