Question
Give rectifying Journal entries for the following errors:
  1. Goods returned by Mohan of ₹ 1,500 not recorded in books.
  2. Goods distributed as free samples for ₹ 5,000 not recorded.
  3. Depreciation of machinery of ₹ 10,000 not charged.
  4. Goods costing ₹ 780, selling price ₹ 1,000 given as charity not recorded.

Answer

Get the step-by-step solution for this question inside the Vidyadip app.

Get the answer in the app

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Similar questions

From the following particulars, ascertain the value of Opening Stock:
How will be the following errors rectified?
  1. Purchases Book is overcasted by ₹ 10,000.
  2. Purchases Return Book is overcasted by ₹ 1,000.
  3. Purchases Return Book’s balance is carried forward in excess by ₹ 100.
  4. Purchases Book’s balance is carried forward in excess by ₹ 1,000.
Write a short note on Contingent Liability.
Rectify the following errors:
  1. Goods purchased from Kunal for ₹ 8,000 and from Kapil of ₹ 9,000 recorded correctly in the Purchases Book. However, ₹ 9,000 was posted to Kunal and ₹ 8,000 to Kapil.
  2. Anil's Account was excess debited by ₹ 500 while Suraj's Account was short debited by ₹ 500.
  3. Parkar's Account was short credited by ₹ 700 while Manisha's Account was excess credited by ₹ 700.
  4. Goods sold to Roopak for ₹ 1,000 and to Sagar for ₹ 1,800 recorded correctly in the Sales Book. However, ₹ 1,800 was posted to Roopak and ₹ 1,000 to Sagar.
Mr. Akshat keeps his books on incomplete records following information is given below:
  April 01, 2016 March 31, 2017
 
Cash in hand 1,000 1,500
Cash at bank 15,000 10,000
Stock 1,00,000 95,000
Business premises 75,000 1,35,000
Furniture 9,000 7,500
Creditors 66,000 87,000
Bills payable 44,000 58,000
During the year he withdrew 45,000 and introduced 25,000 as further capital in the business compute the profit or loss of the business.
Why is it necessary to record the adjusting entries in the preparation of final accounts?
Debtors in the beginning of the year were ​₹ 30,000, Sales on credit during the year were ₹ 75,000, Cash received from the Debtors during the year was ₹ 35,000, Returns Inward (regarding credit sales) were ₹ 5,000 and Bills Receivable drawn during the year were ₹ 25,000. Find the balance of Debtors at th end of the year, assuming that there were Bad Debts during the year of ₹ 2,000.
Prepare Profit and Loss Account for the year ended 31st March, 2017 from the following particulars:-
What do you understand by relationship type? How is it different from relationship instance and relationship set?
The following are the extracts from the trial balance of M/s Bhola & Sons as on March 31, 2017

Closing Stock as on date was valued at ₹ 3,00,000.
You are required to record the necessary journal entries and show how the above items will appear in the trading and profit and loss account and balance sheet of M/s Bhola & Sons.