Question

Rectify the following errors:-
(i) Goods for ₹ 5,500 were purchased from Modern Traders on credit, but no entry has yet been passed.
(ii) Purchase Return for ₹ 1,500 not recorded in the books.
(iii) Goods for ₹ 2,000 sold to 'Geeta Traders' on Credit were entered in the sales book as ₹ 200 only.
(iv) Goods of the value of ₹ 1,800 returned by Sunil & Co. were included in stock, but no entry was passed in the books.
(v) Goods purchased for ₹ 900, entered in the purchases book as ₹ 9,000.
(vi) An invoice for goods sold to X was overcast by ₹ 100.

Answer 1

Two Sided Errors

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
i)	Purchases A/c	Dr.		5,500
	To Modern Traders A/c				5,500
	(Credit purchases from Modern Traders were omitted to be recorded)
ii)	Creditors A/c	Dr.		1,500
	To Purchases Return A/c				1,500
	(Purchases return of Rs 1,500 was not recorded)
iii)	Geeta Traders A/c	Dr.		1,800
	To Sales A/c				1,800
	(Goods sold to Geeta Traders were recorded as Rs 200 instead of Rs 2,000)
iv)	Sales Return A/c	Dr.		1,800
	To Sunil & Co.				1,800
	(Goods returned by Sunil & Co. were omitted to be recorded)
v)	Creditors A/c	Dr.		8,100
	To Purchases A/c				8,100
	(Goods purchased for Rs 900 were recorded as Rs 9,000)
vi)	Sales A/c	Dr.		100
	To X				100
	(Invoice for goods sold was overcast by Rs 100)