The Returns Inward Book has been overcasted by ₹ 200. Rectify the following errors assuming that there is no Suspense Account:
Rectify the following errors assuming that there is no Suspense Account:
(i) The Returns Inward Book has been overcasted by ₹ 200.
(ii) Purchases Book carried forward ₹ 75 less.
(iii) Sales Book carried forward ₹ 41 less on Page 10 and ₹ 43 more on Page 12.
(iv) Goods sold to Gautam were posted as ₹ 215 instead of ₹ 251.
Anurag Pathak Changed status to publish October 1, 2023
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 side of Sales A/c: “To overcasting of ₹ 2” to rectify the error.
iv) In the debit side of Gurman’s A/c: “To undercasting of ₹ 36” to rectify the error.
Anurag Pathak Changed status to publish October 1, 2023
