Following errors are discovered in the books of Ram Lal. Make the necessary entries to rectify them: Purchases Journal was undercasted by ₹ 6,150.
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Pass Journal entries to rectify the following errors which were located after preparing the Trial Balance: The Sales Book was overcast by ₹ 500.
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The Returns Inward Book has been overcasted by ₹ 200. Rectify the following errors assuming that there is no Suspense Account:
Solution:- i) In the credit side of Return Inward A/c: “By overcasting of ₹ 200” to rectify the error. ii) In the debit side of Purchase A/c: “To undercasting of ₹ 75” to rectify the error. iii) In the debit…
Which of the following errors will affect the Trial Balance? The total of the Sales Book has not been posted to the Sales Account.
Solution:- i) It affects the trial Balance as it is one side error that will decrease the Cr. side of the trial balance. ii) It will not affect the trial balance as it is an error of Principles. iii) l…
Rectify the following errors: Purchases Book has been undercast by ₹ 1000
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Rectify the following errors assuming that there is no Suspense Account: Salary of ₹ 10,000 paid to Rahul was not posted to Salaries Account.
Solution:- (i) Salary of ₹ 10,000 paid to Rahul was not posted to Salaries Account. It will be rectified by giving a note on the debit side of Rahul A/c as under: To Omission of Posting Salary to Rahul —–…
Following errors affecting the accounts for the year 2022-23 were detected in the books of Das & Co., Meerut:
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Rectify the following errors: Anil’s Account was excess debited by ₹ 500 while Suraj’s Account was short debited by ₹ 500.
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Goods returned by Mohan of ₹ 2,500 not recorded in books. Give rectifying Journal entries for the following errors:
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₹ 25,000 paid as wages for the construction of office building debited to salaries account. Pass the necessary Journal entries to rectify the following errors:
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