Question

Rectify the following error
machinery purchased on credit from Raman for Rs.20,000 was recorded through purchase book ​

Answer 1

Answer:

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Explanation:

Two Sided Errors

Journal

Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)

i) Ram’s A/c Dr.   5,000  

 

To Sales A/c

     2,500

 

To Purchases A/c

     2,500

 (Goods sold to Ram wrongly passed through Purchases Book)      

           

ii) Purchases A/c Dr.   1,000  

 Sales A/c Dr.   1,000  

 

To Shyam’s A/c

     2,000

 (Goods purchased from Shyam wrongly passed through Sales Book)      

           

iii) Mohan’s A/c Dr.   2,200  

 

To Purchases Return A/c

     1,100

 

To Sales Return A/c

     1,100

 (Goods returned to Mohan wrongly passed through Sales Return Book)      

           

iv) Sales Return A/c Dr.   500  

 Purchases Return A/c Dr.   500  

 

To Ganesh’s A/c

     1,000

 (Goods returned by Ganesh wrongly passed through Purchases Return Book)