Please wait...
Contact Us
Contact
Need assistance? Contact us on below numbers

For Enquiry

10:00 AM to 7:00 PM IST all days.

Business Inquiry (North)

Business Inquiry (West / East / South)

OR

or

Thanks, You will receive a call shortly.
Customer Support

You are very important to us

For any content/service related issues please contact on this number

022-62211530

Mon to Sat - 10 AM to 7 PM

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.

Asked by Topperlearning User 29th July 2016, 10:17 AM
Answered by Expert
Answer:

 Rectifying Journal Entries

 

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)

 

 

 

 

 

Answered by Expert 29th July 2016, 12:17 PM
Rate this answer
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

You have rated this answer /10

Your answer has been posted successfully!

Chat with us on WhatsApp