Question

Question 25.
Rectifying the following errors:
(i) Sales Book has been totalled ₹ 1,000 short.
(ii) Goods worth ₹ 1,500 returned by Green & Co. have not been recorded anywhere.
(iii) Goods purchased worth ₹ 2,500 have been posted to the debit of the supplier, Gupta & Co.
(iv) Furniture purchased from Gulab & Co. worth ₹ 10,000 has been entered in Purchases Book.
(v) Cash received from A ₹ 2,500 has not been posted in his account.

Answer 1

Answer:

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Answer 2

The correct journal entries are -

1) Suspense A/c Dr 1000

To Sales A/c 1000

( Being sales book was under cast, now rectified)

2) Sales Return A/c Dr 1500

To Green & Co. A/c 1500

( Being good returned were not recorded, now rectified)

3) Suspense A/c Dr 2500

To Gupta & Co A/c 2500

( Being goods purchased for Rs 2500 debited to wrong account, now rectified)

4) Furniture A/c Dr 10000

To Purchases A/c 10000

( Being purchases debited wrongly in purchase book now rectified)

5) Suspense A/c Dr 2500

To A's A/c 2500

( Being cash received From A, not recorded now rectified)