Question

On scrutinising the books, the accountant who had agreed the trial balance and prepared profit & loss account detected the following errors:

6) Rs. 3,000 paid to repairs done to the building were debited to buildings account

An invoice received from Anand for Rs. 1,100 was entered in the books as for

Rs. 110 only i) A bill of Rs. 450 for old furniture of the business sold to Charles was entered in the purchases day book

(iv) Bills received from Janaki for repairs done to machinery Rs. 300 and three table fans supplied for Rs. 580, were entered in the purchases book () Rs. 1,806 paid for rent were debited to Landlord's account and Rs 550 paid

to Doss against our acceptance were debited to Sarkar's A/c

Pas the journal entries to rectify the above mistakes and show the effect of rectification

on profit

Ans: Profit will reduce by Rs. 4.760​

Answer 1

Answer:

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