Question

Rectify the following errors :
(a) Sales book overcast by Rs. 700.
(b) Purchases book overcast by Rs. 500.
(c) Sales return book overcast by Rs. 300.
(d) Purchase return book overcast by Rs. 200.

Answer 1

The answer is stated below:

Explanation:

The followings are rectify by passing the journal entries, which are:

a. Sales A/c............. Dr  Rs700

            Suspense A/c......Cr  Rs700

As the sales are overcast by Rs 700

b. Suspense A/c.........Dr  Rs 500

      Purchase A/c...........Cr    Rs 500

As the purchase book is overcast by Rs 500

c. Suspense A/c.........Dr  Rs 300

        Sales return A/c...........Cr    Rs 300

As the sales return book is overcast by Rs 300

d. Purchase return A/c...........Dr    Rs 200

                  Suspense A/c.........Cr   Rs 200

 As the purchase return book is overcast by Rs 200

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