Question

Rectify the following errors:

(1) Furniture purchased for ` 10,000 wrongly debited to purchase account as ` 4,000.

(2) An item of ` 626 written off as a bad debt from chander has not been debited to bad debts A/c.

(3) The sale of ` 430 to Ramdas was credited in his account as ` 340.

(4) Credit purchases from S & Co. for ` 6,000 were recorded in Sales Book. However, S & Co. was

correctly credited.

(5) Closing stock has been overvalued by ` 1,500.

(6) A debit balance of ` 5,000 on the personal account of Mr. Johan (correctly shown in the ledger) had

been omitted when extracting a trial balance.​

Answer 1

Answer:

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Explanation:

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