Question

Rectify the following errors:
(a) Purchase Book is over cast by Rs 300( for the month of march).
(b) Sales book has been under cast by Rs.200.
(c) Purchase Returns Book has been over cast by Rs.75.
(d) Sales Return Book has been cast By Rs.50​

Answer 1

Answer:

Suspense account dr 300

To purchase account. 300

suspense account. dr 200

To sales account. 200

purchase return account dr 75

To suspense account. 75

If sale return is undercast then

sale return account dr 50

To suspense account 50

If sale return is overcast then

suspense account. dr 50

To sale return. 50