Rectify the following entries by passing entries: i. A credit sale of Rs.2,000 to Ram was posted to Raman’s Account. ii. Goods costing Rs.1,000 (Market priceRs.1,500) were taken by proprietor for personal use, not recorded anywhere. iii. Sales book was overcast by Rs.600.

CBSE 11-commerce - Accountancy Part I

Asked by Topperlearning User | 29 Jul, 2016, 10:17: AM

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CBSE 11-commerce - Accountancy Part I

Explain the steps to be taken to detect and locate errors.

Asked by Topperlearning User | 29 Jul, 2016, 09:59: AM

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CBSE 11-commerce - Accountancy Part I

Rectify the given errors which have been detected before preparation of the trial balance. Sales to Mr. Rs.6,900 posted to his account as Rs.9,600 Credit purchase of machinery worth Rs.45,000 was posted to machinery account as Rs.4,500 Purchase of Rs.3,470 from M.T Agarwal Co. was posted to his account as Rs.4,370 Total of the purchase book was undercast by Rs.740

Asked by Topperlearning User | 29 Jul, 2016, 10:20: AM

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CBSE 11-commerce - Accountancy Part I

Pass the journal entries to rectify the following errors: Wages of Rs.36,000 paid for the construction of new office building debited to wages account Credit purchase of Rs.7,652 from Varun was posted to Arun’s A/c. Sale of Rs.5,200 to Jignesh was recorded in the purchases book Goods returned to Rs.3,600 was posted to Sales return book. Pg 16.18

Asked by Topperlearning User | 29 Jul, 2016, 10:24: AM

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CBSE 11-commerce - Accountancy Part I

Rectify the errors by passing journal entries. Purchase of stationary worth Rs.3,140 was omitted to be recorded in the books Rs.5,600 paid for newly purchased books debited to purchases account Rs.6,200 spent on repair of the building were debited to building account Purchase of Rs.1,300 from Rs.130

Asked by Topperlearning User | 29 Jul, 2016, 09:59: AM

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CBSE 11-commerce - Accountancy Part I

Rectify the following errors by passing journal entries: i. Sales return from Ranveer of Rs.3,760 was not recorded ii. Sale of old machinery amounting to Rs.1,200 has been credited to sales account iii. Rs.800 due from Mr. Ravi which had been written off as bad debts in previous year was recovered and has been posted to his personal account iv. Rs.7,600 paid as salary to Abhishek debited to his personal account

Asked by Topperlearning User | 29 Jul, 2016, 10:27: AM

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CBSE 11-commerce - Accountancy Part I

Rectify the following errors by passing journal entries assuming suspense account has been opened: Return inwards book has been overcast by Rs.1,600 Purchase book has been undercast by Rs.900 The balance in the account of Rs.2,100 was written off as bad debt but the same was not posted to his account. A purchase of Rs.4,200 made from Rajat entered in the purchase book but wrongly posted to the credit of Rajit’s A/c as Rs.200.

Asked by Topperlearning User | 29 Jul, 2016, 09:59: AM

ANSWERED BY EXPERT

CBSE 11-commerce - Accountancy Part I

The trial balance of Prashant and Co. showed Rs.9,600 as debit excess. The difference is posted to the suspense account. Prepare the suspense account and rectify the following errors: Depreciation charged of Rs.1,100 on machinery has not been posted to depreciation account Goods purchased for Rs.500 were posted as Rs.5,000 to the purchase account. The total of the sales bookwas carried forward to the trial balance as Rs.4,530 instead of Rs.5,430. Cash received from Ramesh Rs.3,200 was posted to his account as Rs.3,000.

Asked by Topperlearning User | 29 Jul, 2016, 09:59: AM

ANSWERED BY EXPERT

CBSE 11-commerce - Accountancy Part I

Rectify the following errors by passing journal entries: Goods returned from Rs.1,400 were posted to Ramesh’s account Goods returned to Rs.3,000 were recorded in the sales return book Wages paid of Rs.4,730 was recorded as Rs.4,370 Goods returned from Rs.500 were recorded as Rs.1,000

Asked by Topperlearning User | 29 Jul, 2016, 09:59: AM

ANSWERED BY EXPERT

CBSE 11-commerce - Accountancy Part I

Rectify the following errors by passing journal entries: Bill receivable of Rs.1,200 received from a debtor, but not posted Bad debts of Rs.300 written off, were posted as Rs.3,000 Total of return inwards book worth Rs.1,200 posted to purchase account Return inwards book undercast by Rs.300

Asked by Topperlearning User | 29 Jul, 2016, 09:59: AM

ANSWERED BY EXPERT

Date	Particulars		L.F.	Dr. Rs.	Cr. Rs.
	Ram’s A/c	Dr.		2,000
	To Raman’s A/c				2,000
	(Being credit sale to Ram was posted to Raman, now rectified )
	Drawings A/c	Dr.		1,000
	To Purchases A/c				1,000
	(Being goods taken by proprietor for personal use omitted to record, now recorded)
	Sales A/c	Dr.		600
	To Suspense A/c				600
	(Being error of Sales Book Totalling, now rectified)

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