Question

Write rectification entries of following a.sales day book overcast by rs 1500 b. discount allowed rs 500 not posted discount account c. goods sold to jagadish for cash rs 700 wrongly debited to account d, A DEBTOR BALANCE rs 800 was not included in debtors list e. Purchase day book was under cast by rs 1000
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Answer 1

Explanation:

hope it helps you.

but I'm not sure about c) part

sorry for that.

here is the explanation for each part

a) as sales day book is overcast so we will have to debit sales a/c by 1500 (as balance of sales is credit) and suspense a/c will be credited by 1500

b) discount allowed a/c balance is debit as it is expense. as discount allowed has not been posted we will post it now and suspense a/c will be credited by 500

c) the original entry for this should be cash a/c dr. 700

to sales a/c 700

but in books we have posted

jagdish a/c dr. 700

to sales a/c. 700

in order to nulify the effect of wrong entry and to bring the effect of right entry,we will debit cash a/c by 700 and credit jagdish by 700.

d) as debtors balance as not included we will debit debtors a/c by 800 and credit suspense a/c by 800

e) as purchase day book is under cast to rectify it we will debit purchase balance by 1000 and credit suspense a/c by 1000.

Answer 2

Answer:

Explanation:

a.) Sales A/c           Dr        1500

         To Suspense A/c                   1500

(Overcast of 1500 being rectified)

b.) Discount Allowed A/c    Dr    500

        To Suspense  A/c                         500

c.) Cash A/c             Dr      700

         To Jagdish A/c                700

d.)Debtors A/c    Dr     800

         To Suspense A/c       800

e.)Purchases A/c   Dr       1000

      To Suspense A/c              1000