Question

Rectify the following errors: (6) i. Credit sales to Gopal rupees 10,000 we’re recorded in Purchase Book. ii. Goods Returned from Chandni 12000 we’re recorded in Purchase Return Book. iii. Discount rupees 500 allowed by P. Sahoo, a creditor, has not been entered in the books of account. iv. Goods worth rupees 130 returned by G, we’re entered in the sales Book and posted there from to the credit of G's personal account. v. Furniture purchased for 10,000 Wrongly debited to Purchase Account as 4000. vi. Cash paid to Mani 5000 against our acceptance was debited to Manu. ​

Answer 1

Answer:

3. account book ....dr 500

to p . sahoo 500

Answer 2

Answer:

Concept:

Rectification means revising mistake made in recording transaction.

Find:

We Rectify the entries

Given:

i. Credit sales to Gopal rupees 10,000 we’re recorded in Purchase Book.

ii. Goods Returned from Chandni 12000 we’re recorded in Purchase Return Book.

iii. Discount rupees 500 allowed by P. Sahoo, a creditor, has not been entered in the books of account. iv. Goods worth rupees 130 returned by G, we’re entered in the sales Book and posted there from to the credit of G's personal account.

v. Furniture purchased for 10,000 Wrongly debited to Purchase Account as 4000.

vi. Cash paid to Mani 5000 against our acceptance was debited to Manu.

Explain:

I. Entry is:

Gopal A/c .... Dr. 10000

To Sales A/c 5000

To Purchase A/c 5000

( Being Credit sales to Gopal rupees 10,000 we’re recorded in Purchase Book)

ii. Entry is:

Sales Return A/c .... Dr 6000

Purchase Return A/c ... Dr 6000

To Chandni A/c 12000

(Being Goods Returned from Chandni 12000 we’re recorded in Purchase Return Book)

iii. Entry is:

P. Sahoo A/c .... Dr 500

To discount recivable A/c 500

(Being Discount rupees 500 allowed by P. Sahoo, a creditor, has not been entered in the books of account)

iv. Entry is:

Sales Return A/c .... Dr 130

To G's personal A/c 130

(Being Goods worth rupees 130 returned by G, we’re entered in the sales Book and posted there from to the credit of G's personal account)

v. Entry is:

Furniture A/c .... Dr 10000

To Purchase A/c 4000

To Suspense A/c 6000

(Being Furniture purchased for 10,000 Wrongly debited to Purchase Account as 4000)

vi. Bill payable A/c ...Dr 5000

To Manu A/c 5000

(Being Cash paid to Mani 5000 against our acceptance was debited to Manu)

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