Question

Question 16.
Give the rectifying entries of the following:
(i) Sales of ₹ 20,000 to Manoj were recorded as ₹ 2,000 in the Sales Book.
(ii) An amount of ₹ 25,000 spent for the extension of machinery has been debited to the Wages Account.
(iii) Discount received from Ram & Co. ₹ 350, has not been entered in the discount column of the Cash Book.
(iv) Goods of ₹ 3,000 sold to Mahesh were recorded in the Purchases Book.

Answer 1

The correct journal entries are -

1) Manoj A/c Dr. 18,000

To Sales A/c 18,000

( Being sales recorded wrong as 2,000, now rectified.)

2) Machinery A/c Dr. 25,000

To Wages A/c 25,000

( Being amount spent on installation, wrongly debited to wages, now rectified.)

3) Ram and Co A/c Dr. 4,750

To Discount received A/c 4,750

( Being discount received wrongly entered in cash book,now rectified.)

4) Mahesh A/c Dr. 6,000

To Sales A/c 3000

To Purchases A/c 3000

( Being goods sold to Mahesh recorded wrong in purchase book, now rectified.)