rectify the following errors which are discovered the books of Srinivasagalu and co.
a. the returns outward book is overcast by Rs 150
b. received Rs 200 from Shyam debited to his account
c. the purchase book was undercast by Rs 1000
d. a payment of Rs 500 for salaries to Raju has been posted twice to Salaries account
e. Rs 150 received from Madan was entered on the debit side of the cash book no posting was done to Madan's account
Answers
Answer:
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Answer:
Return outward(Purchase Returns)
a. Purchase Return A/c. Dr 150
To Suspense A/c 150
b. Suspense a/c Dr 400
To Shyam A/c 400
c. Suspense A/c Dr 500
To Salaries a/c. 500
d. In Madan A/c (Ledger) - Post By cash in the Credit Side Rs. 150
Explanation: