Question

Question 3.
How will you rectify the following errors?
(i) Sales Book is overcast by ₹ 5,000.
(ii) Sales Return Book is short casted by ₹ 500.
(iii) Balance of Sales Book is carried forward in excess by ₹ 1,000.
(iv) Balance of Sales Return Book is carried forward in excess by ₹ 100.

Answer 1

for your help and support of the

Answer 2

The journal entries are shown below:

Explanation:

The journal entries are as follows:

1.

Sales A/c..........................Dr  Rs 5,000

   To Suspense A/c...............Cr  Rs 5,000

Being the sales book is overstated is now rectified.

2.

Sales Return A/c..........................Dr  Rs 500

   To Suspense A/c...............................Cr  Rs 500

Being the sales return book is understated is now rectified.

3.

Sales A/c..........................Dr  Rs 1,000

   To Suspense A/c...............Cr  Rs 1,000

Being the sales book is carried forward in excess is now rectified.

4.

Suspense A/c..........................Dr    Rs 100

       To Sales Return A/c................Cr   Rs 100

Being the sales return book is carried forward in excess is now rectified.

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