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,
 
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

  • 0
Rajni A/c Dr                           500
Bank A/c Dr                           500
             To Ravi A/c                          500
             To Cash A/c                         50
             To Suspense A/c                  450

Of course one important thing to be noted,  is that you can  either write Bank or Cheque-in-Hand depending upon your choice.

Hope this Helps.
  • -2
I can't say like this is 100% correct (I think not even close to 80%) I just tried and yea I didn't quite understand the (g) one.

  • 0
In ques (e) the amount credited to rajani is 500 or 50?
  • -1
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