Rectify the following errors by means of Journal entries: A cheque of ₹ 5,000 received from Ashish was dishonoured and was debited to Discount Account.
Rectify the following errors by means of Journal entries:
(i) A cheque of ₹ 5,000 received from Ashish was dishonoured and was debited to Discount Account.
(ii) Purchase of ₹ 540 from Ramneek was written in Sales day book, but was correctly posted to correct side of Ramneek’s Account.
(iii) Salary paid to Miss Yugakshi ₹ 1,000 was debited to her personal account as ₹ 900.
(iv) Furniture costing ₹ 500, purchased from Jyoti, was wrongly entered in Purchase book as ₹ 450.
Solution:-
Anurag Pathak Answered question
Solution:-
Hint: In Item No. (iii) ₹ 1,000 will be Debited to Salary A/c; ₹ 900 will be credited to Miss Yugakshi and ₹ 100 will be credited to Suspense A/c.
Anurag Pathak Edited answer
