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Question -

Rectify the following errors:
(a) Sales book overcast by Rs 700.
(b) Purchases book overcast by Rs 500.
(c) Sales return book overcast by Rs 300.
(d) Purchase return book overcast by Rs 200.



Answer -

Journal Recordings to rectify the errors

 

Date

Particulars

L.F

Debit
Amount

Credit
Amount

i.

Sales Account Dr.

700

To Suspense A/c

(Sales book overcast by ₹ 700, Error rectification recording)

700

ii.

Suspense Account Dr.

500

To Purchases A/c

(Purchases book overcast by ₹ 500, Error rectification recording)

500

iii.

Suspense Account Dr.

300

To Sales Return A/c

(Sales Return book overcast by ₹ 300, Error rectification recording)

300

i.

Purchases Return Account Dr.

200

To Suspense A/c

(Purchases return book overcast by ₹ 700, Error rectification recording)

200

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