Question

How would you rectify the following errors, which are discovered at post Trial Balance
Stage :
(a) Sale of goods 2,900 posted to the debit of sales account 9,020.
(b) Commission 150 paid, was posted twice, first to discount account and then to
commission account.
(c) Machinery costing 8,000 was sold for 6,500. Machinery was credited with the sale
proceeds only.
(d) An acceptance for 5,000 given to Chaman was dishonoured and noting charges 100
were paid by drawer. However, on dishonour, amount of bill was only recorded in
drawer's account.
(e) Opening balance of building 25,000 was not brought forward.
(f) Loan given to Peter 6,000 out of personal bank account was debited to capital account.​

Answer 1

Answer:

DATE:

I enter the following transaction in an

analytical pretty cash book under

inprest system and Balarce it

1-2-2017 Received cheque

3-2-2017 Receired postal stamp

15-2-2017 paid carriage on pa

parcels 30

20-2-2017 Parcheesed office files and paper 15

25-2-2017 Paid foon office charing

paid feer advertisement

2 od

2

ho

us

29- 2- 2017

Okk