Rectify the following errors:(a) Payment of wages to Ram Lal was debited to his personal account withRs.3000/-(b) Payment of salaries to srikant Rs. 7000/- was debited to Srikant's account.(c) Rent amounting to Rs.900/- paid was credited to rent account.(d) Goods bought from a merchant for Rs.200/- had been posted to the credit ofhis account as Rs. 2000/-(e) Rs.60/- owing by a customer had been omitted from the schedule of debtors.
Answers
Answer:
a) credit his personal acc
b) credit srikant acc
c) debit rent acc
d) debit merchant acc
Rectified entries of the given wrong entries
Explanation:
1) Wages A/c Dr. Rs.3,000
To Ram Lal A/c Rs.3,000
Here,we have just reversed the entry i.e Credit Ram Lal's A/c and Debit back the Wages A/c.
2)Srikant's A/c Dr. Rs.7,000
To Salary and Wages A/c Rs.7,000
Since,his salary was debited to his personal account,therefore,we have reversed the entry.
3) Cash A/c or Rent paid A/c Dr. Rs.900
To Rent A/c Rs.900
Since, rent paid via cash was credited instead of debiting,therefore,we have debited cash a/c and credited Rent A/c to reverse the effect.
4) Merchant A/c Dr. Rs.1800
To Purchases A/c Rs.1800
Here,Merchant's account was credited by an extra amount of 1800,therefore we debited his account to remove the effect of those extra 1800.
5) Debtors A/c Dr. Rs.60
To Sales A/c Rs.60
The amount of Rs.60 was not recorded/omitted in the Debtors A/c,therefore we just simply recorded the omitted entry.