Sales made to Mahesh for cash should be debited to ___.
Mahesh`s account
Sales Account
Cash account
Purchases Account
Sales is made in cash. As cash is an asset, increase in cash is always debited.
Rectify the following errors assuming that a suspense account was opened.
Ascertain the difference in trial balance.
(a)
Credit sales to Mohan Rs 7,000 were posted to the credit of his account.
(b)
Credit purchases from Rohan Rs 9,000 were posted to the debit of his account as Rs 6,000.
(c)
Goods returned to Rakesh Rs 4,000 were posted to the credit of his account.
(d)
Goods returned from Mahesh Rs 1,000 were posted to the debit of his account as Rs 2,000.
(e)
Cash sales Rs 2,000 were posted to the debit of sales account as Rs 5,000.
Rectify the following errors assuming that a suspense account was opened. Ascertain the difference in trial balance.
(a) Credit sales to Mohan Rs. 7,000 were posted to the credit of his account.
(b) Credit purchase from Rohan Rs. 9,000 were posted to the debit of his account as Rs. 6,000.
(c) Goods returned to Rakesh Rs. 4,000 were posted to the credit of his account.
(d) Goods returned from Mahesh Rs. 1,000 were posted to the debit of his account as Rs. 2,000.
(e) Cash sales Rs. 2,000 were posted to the debit of sales account as Rs. 5000.
Rectify the following errors assuming that suspense account was opened.
Credit sales to Mohan Rs 7,000 were recorded in Purchase Book. However, Mohan’s account was correctly debited.
Credit purchases from Rohan Rs 9,000 were recorded in sales book. However, Rohan’s account was correctly credited.
Goods returned to Rakesh Rs 4,000 were recorded in sales return book. However, Rakesh’s account was correctly debited.
Goods returned from Mahesh Rs 1,000 were recorded through purchases return book. However, Mahesh’s account was correctly credited.
Goods returned to Naresh Rs 2,000 were recorded through purchases book. However, Naresh’s account was correctly debited.