CBSE Class 11-commerce Answered
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
Expert Answer
Rectification Entries in Journal
Date |
Particulars |
|
L.F. |
Dr. Rs. |
Cr. Rs. |
i. |
Sales return A/c |
Dr. |
|
3,760 |
|
|
----------To Ranveer’s A/c |
|
|
|
3,760 |
|
(Being sales return from Ranveer not recorded, now rectified) |
|
|
|
|
|
|
|
|
|
|
ii. |
Sales A/c |
Dr. |
|
1,200 |
|
|
----------To Old Machinery A/c |
|
|
|
1,200 |
|
(Being sale of old machinery wrongly credited to sales account, now rectified) |
|
|
|
|
|
|
|
|
|
|
iii. |
Ravi’s A/c |
Dr. |
|
800 |
|
|
---To Bad debts recovered A/c |
|
|
|
800 |
|
(Being wrong credit to personal account in respect to previously written off bad debts, now rectified) |
|
|
|
|
iv. |
Salary A/c |
Dr. |
|
7,600 |
|
|
----------To Abhishek’s A/c |
|
|
|
7,600 |
|
(Being salary paid to Abhishek wrongly debited to his personal account, now rectified) |
|
|
|
|
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ANSWERED BY EXPERT
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