Rectify the following errors : i. Goods ( Cost Rs5000 sales price Rs6000) distributed as free samples among prospective customers were not recorded anywhere. ii. Wages paid to the firm’s workers for making additions to machinery amounting to Rs350 were debited to the wages account. iii. The Sales Book has been totaled Rs100 short. iv. A purchase of goods from Ram amounting to Rs1500 has been wrongly passed through the Sales Book. v. A cheque for Rs1000 received from Man Mohan was dishanoured and had been posted to the debit of the Sales Returns A/C. vi. Repair made were debited to the Building Account Rs500.
Answers
Answer:
Explanation:
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RECTIFIED JOURNAL ENTRIES
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1) Advertisement expense a/c dr. 5000
To purchase a/c cr. 5000
(goods distributed as sample)
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2) Machinery a/c dr. 350
To wages a/c cr. 350
(Wages paid wrongly debited to
wages a/c)
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3) Suspense a/c dr. 100
To sales a/c cr. 100
(sales day book totalled 100 short)
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4) Purchase a/c dr 1500
Sales a/c dr 1500
To suspense a/c cr. 3000
( purchase is treated as sale)
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5) Manmohan a/c dr.1000
To sales return a/c cr.1000
( cheque for Rs1000 received
from Man Mohan was dishanoured
and had been posted to the debit of the Sales Returns a/c)
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6) Repair a/c dr. 500
To building a/c cr. 500
(Repair made were debited
to the Building Account Rs500)
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Explanation:
refer to the attachment
