Rectify the following errors assuming that there is no Suspense Account: Salary of ₹ 10,000 paid to Rahul was not posted to Salaries Account.
Rectify the following errors assuming that there is no Suspense Account:
(i) Salary of ₹ 10,000 paid to Rahul was not posted to Salaries Account.
(ii) Sales to Amrish of ₹ 1,430 posted to his account as ₹ 1,340.
(iii) Sales to Vijay of ₹ 2,470 posted to his account as ₹ 2,740.
(iv) Purchases from Pal of ₹ 1,430 posted to his account as ₹ 1,340.
Anurag Pathak Changed status to publish October 1, 2023
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 —– ₹ 10,000
(ii) Sales to Amrish of ₹ 1,430 posted to his account as ₹ 1,340. It will be rectified by giving a note on the debit side of Amrish A/c as under:
To Short Debit for Sales (Error Rectified) —– ₹ 90
(iii) Sales to Vijay of ₹ 2,470 posted to his account as ₹ 2,740. It will be rectified by giving a note at credit side of Vijay A/c as follows
By Excess debit on account of Sales —– ₹ 270
(iv) Purchases from Pal of ₹ 1,430 posted to his account as ₹ 1,340. It will be rectified by giving a note at the credit side of Pal’s A/c as follows:
By Less credit for purchases — ₹ 90.
Anurag Pathak Changed status to publish October 1, 2023
