Question

Rectify.the following errors.
Rent of 700 paid to Ravi has been debited to his personal account.
Sold goods to Ramakant * 580 has been entered in the purchase book as 850.
Repair to furniture 300 has been debited to furniture account.
Total of the sales return book is wrongly taken more by * 120.​

Answer 1

Answer:

1. Rent A/C Dr. 700

To Ravi 700

2. Ramakant Dr. 1430

To purchase A/C 850

To Sales A/C 580

3. Repairs A/C Dr. 300

To Furniture A/C 300

4. Suspense A/C Dr. 120

To Sales return A/C 120

Explanation:

All the entries are based on the following rules.

1. Credit the wrong debit.

and the last entry is based on

1. Credit the excess debit.