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Question
Rectify the following error assuming that the trial balance is yet to be prepared:
Purchases returns book was overcast by ₹ 700
Solution
Purchases returns account should be debited with ₹ 700
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RELATED QUESTIONS
Rectify the following journal entry.
| Particulars | L.F. | Dr. (₹) | Cr. (₹) |
| Cash A/c Dr. To Kumararaja A/c (Goods sold to Kumararaja for cash) |
10,000 |
10,000 |
What is a suspense account? Is it necessary that is suspense account will balance off after rectification of the errors detected by the accountant? If not, then what happens to the balance still remaining in suspense account?
Rectify the following errors:
- Credit sales to Mohan ₹ 7,000 were recorded as ₹ 700.
- Credit purchases from Rohan ₹ 9,000 were recorded as ₹ 900.
- Goods returned to Rakesh ₹ 4,000 were recorded as ₹ 400.
- Goods returned from Mahesh ₹ 1,000 were recorded as ₹ 100.
Rectify the following errors:
- Sales book overcast by ₹ 700.
- Purchases book overcast by ₹ 500.
- Sales return book overcast by ₹ 300.
- Purchase returns book overcast by ₹ 200.
Rectify the following errors:
(a) Credit sales to Mohan ₹ 7,000 were posted to Karan.
(b) Credit purchases from Rohan ₹ 9,000 were posted to Gobind
(c) Goods returned to Rakesh ₹ 4,000 were posted to Naresh.
(d) Goods returned from Mahesh ₹ 1,000 were posted to Manish.
(e) Cash sales ₹ 2,000 were posted to commission account.
Rectify the following errors:
(a) Furniture purchased for ₹ 10,000 wrongly debited to purchases account.
(b) Machinery purchased on credit from Raman for ₹ 20,000 was recorded through purchases book.
(c) Repairs on machinery ₹ 1,400 debited to machinery account.
(d) Repairs on overhauling of second-hand machinery purchased ₹ 2,000 was debited to repairs account.
(e) Sale of old machinery at book value of ₹ 3,000 was credited to sales account.
Rectify the following errors assuming that suspense account was opened. Ascertain the difference in trial balance.
(a) Depreciation provided on machinery ₹ 4,000 was not posted to Depreciation account.
(b) Bad debts written-off ₹ 5,000 were not posted to Debtors account.
(c) Discount allowed to a debtor ₹ 100 on receiving cash from him was not posted to discount allowed account.
(d) Goods withdrawn by proprietor for personal use ₹ 800 were not posted to Drawings account.
(e) Bill receivable for ₹ 2,000 received from a debtor was not posted to Bills receivable account.
Trial balance of Kohli did not agree and showed an excess debit of ₹ 16,300. He put the difference to a suspense account and discovered the following errors:
(a) Cash received from ₹ 5,000 was posted to the debit of Kamal as ₹ 6,000.
(b) Salaries paid to an employee ₹ 2,000 were debited to his personal account as ₹ 1,200.
(c) Goods withdrawn by proprietor for personal use ₹ 1,000 were credited to sales account as ₹ 1,600.
(d) Depreciation provided on machinery ₹ 3,000 was posted to Machinery account as ₹ 300.
(e) Sale of old car for ₹ 10,000 was credited to sales account as ₹ 6,000.
Rectify the errors and prepare suspense account.
Rectify the following errors:
- Sales book overcast by ₹ 700.
- Purchases book overcast by ₹ 500.
- Sales return book overcast by ₹ 300.
- Purchase return book overcast by ₹ 200.
Rectify the following errors:
- Credit sales to Mohan (₹) 7,000 were recorded as (₹) 700.
- Credit purchases from Rohan (₹) 9,000 were recorded as (₹) 900.
- Goods returned to Rakesh (₹) 4,000 were recorded as (₹) 400.
- Goods returned from Mahesh (₹) 1,000 were recorded as (₹)100.
