Q. Pass the necessary journal entries to rectify the following errors :
(a) Goods purchased from Shyam for Rs. 3,000 was passed through sales book as Rs. 30,000 but correctly
credited to Shyam account.
(b) A dishonoured bill of exchange for Rs. 1,600 returned by the firm's Bank had been credited to bank
account and debited to bill receivable account. A cheque was received later from the customer for Rs.
1,600 and duly paid.
(c) Cash sales to Meena Rs. 4,000 recorded as Rs. 14,000 in Mina's Account.
(d) Discount Rs. 2,000 received from Rajni was correctly entered in the journal proper and debited to
discount allowed account Rs. 200.
(e) Cheque of Rs. 500 received from Ravi was credited to Rajni and debited to cash account as Rs. 50.
(f) Goods costing Rs. 10,000 was purchased from Z for Rs. 15,000 cash discount 10% trade discount 5%
was recorded in the Cash Book as Rs. 11,000.
(g) Old furniture originally purchased for Rs. 1,800 and written down to Rs. 1,100 was sold for cash Rs.
1,700 and full amount was credited to furniture account.
(h) Goods (cost Rs. 423 sales price Rs. 432 ) taken by Guru , the proprietor for his personal use was
recorded in the sales account.
(i) A credit sales of goods of Rs. 632 to Meera entered as purchases from Mira as Rs. 623.
Dear Student,
Regards
Journal | |||||
Date | Particulars | L.F. | Debit Amount (Rs) |
Credit Amount (Rs) |
|
(i) | Purchase A/c | Dr. | 3,000 | ||
Sales A/c | Dr. | 30,000 | |||
To Suspense A/c | 33,000 | ||||
(Purchase of goods is wrongly recorded as sales now rectified) | |||||
(ii) | Customer A/c | Dr. | 1,600 | ||
To B/R A/c | 1,600 | ||||
(Bill dishonoured wrongly recorded now rectified) | |||||
(iii) | Cash A/c | Dr. | 4,000 | ||
Suspense A/c | Dr. | 10,000 | |||
To Mina A/c | 14,000 | ||||
(Sales wrongly recorded now rectified) | |||||
(iv) | Suspense A/c | Dr. | 2,200 | ||
To Discount Received A/c | 2000 | ||||
To Discount Allowed A/c | 200 | ||||
(Rectified entry passed) | |||||
(v) | Cash A/c | Dr. | 450 | ||
Rajani A/c | Dr. | 50 | |||
To Ravi A/c | 500 | ||||
(Cheque wrongly credited to Ravi now rectified) | |||||
(vi) | Purchases A/c | Dr. | 3,250 | ||
Cash A/c | Dr. | 11,000 | |||
To Z A/c | 14,250 | ||||
(Goods purchased wrongly transferred in Cash book now rectified) | |||||
(vii) | Furniture A/c | Dr. | 600 | ||
To Profit & Loss A/c | 600 | ||||
( Profit on sale transferred to furniture now rectified) | |||||
(viii) | Drawings A/c | Dr. | 423 | ||
Sales A/c | Dr. | 432 | |||
To Purchases A/c | 423 | ||||
To Suspense A/c | 432 | ||||
(Goods wrongly recorded in sales book) | |||||
(ix) | Meera A/c | Dr. | 632 | ||
Mira A/c | Dr. | 623 | |||
To Sales A/c | 632 | ||||
To Purchases A/c | 623 | ||||
(Goods recorded as purchases now rectified) |
Regards