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 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 29th July 2016, 10:27 AM
Answered by 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)

 

 

 

 

 

Answered by Expert 29th July 2016, 12:27 PM
Rate this answer
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

You have rated this answer 10/10

Your answer has been posted successfully!

Chat with us on WhatsApp