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Question -

Rectify the following errors:
(a) Furniture purchased for Rs 10,000 wrongly debited to purchases account.
(b) Machinery purchased on credit from Raman for Rs 20,000 was recorded through purchases book.
(c) Repairs on machinery Rs 1,400 debited to machinery account.
(d) Repairs on overhauling of secondhand machinery purchased Rs 2,000 was debited to Repairs account.
(e) Sale of old machinery at book value of Rs 3,000 was credited to sales account.



Answer -

Journal Recordings to rectify the errors

 

Date

Particulars

L.F

Debit
Amount

Credit
Amount

i.

Furniture A/c Dr.

10,000

To Purchases A/c

(Furniture purchased, Error rectification recording, was wrongly debited to Purchases account)

10,000

ii.

Machinery A/c Dr.

20,000

To Purchases A/c

(Machinery purchased on credit, Error rectification recording, was wrongly debited to purchases account)

20,000

iii.

Repairs on Machinery A/c Dr.

1,400

To Machinery A/c

(Repairs on machinery, Error rectification recording, was wrongly debited to machinery account)

1,400

iv.

Machinery A/c Dr.

2,000

To Repairs A/c

(Repairs on overhauling of second hand machinery purchased, Error rectification recording, was wrongly debited to repairs account)

2,000

v.

Sales A/c Dr.

3,000

To Machinery A/c

(Sale of old machinery on book value, Error rectification recording, was wrongly credited to sales account)

3,000

 

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