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Account Give Answer As Asked . (3 Marks)

P2 C1 Rectification ofErrors · Gujarat Board (GSEB) STD 11 Commerce (GSEB - English Medium). 3 questions.

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Give Answer As Asked . (3 Marks)

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Question 13 Marks
Pass necessary rectification entries to rectify the following journal entries written by Ishwarlal:
Date Particulars L.F. Debit(Rs.) Credit (Rs.)
$1$ Kishan’s A/c. Dr.   $7,000$  
  To Cash A/c.     $7,000$
  (Being the salary of current month $Rs.7,000$ paid to Kishan)      
$2$ Purchase A/c. Dr.   $9,500$  
  To Clinton's A/c.     $9,500$
  (Being the goods of $Rs.9,500$ sold to Clinton on credit)      
$3$ Purchase A/c. Dr.   $17,100$  
  To Cash A/c.     $17,100$
  (Being the goods worth $Rs.20,000$ purchased at $10\%$ trade discount and $5\%$ cash discount)      
  Total   $33,600$ $33,600$
Answer
Journal proper of Ishwarlal
Date Particulars L.F. Debit(Rs.) Credit (Rs.)
$1$ Salary A/c. Dr.   $7,000$  
  To Kishan's A/c.     $7,000$
  (Being rectification entry for paid salary to Kishan is debited to Kishan's A/c. by mistake)      
$2$ Clinton's A/c. Dr.   $19,000$  
  To Sales A/c.     $9,500$
  To Purchase A/c.     $9,500$
  (Being rectification entry for credit sale to Clinton is recorded in purchase book by mistake)      
$3$ Purchase A/c. Dr.   $900$  
  To Discount A/c.     $900$
  (Being rectification entry for cash purchased with cash discount is left recording of discount by mistake)      
  Total   $26,900$ $26,900$
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Question 23 Marks
Prepare rectification to rectify the following errors detected while preparing final accounts of Shri Balram as on $31-3-2015$
$(1)$ Purchase of goods $Rs.5,000$ is left to be recorded.
$(2)$ Installation charges paid $Rs.2,000$ on purchase of machinery is debited to sundry expense account.
$(3)$ $Rs.2,400$ paid to Devanshi is recorded to Karan's account by mistake.
Answer
Journal Proper of Shri Balram
Date Particulars L.F. Debit(Rs.) Credit (Rs.)
$1$ Purchase A/c. Dr.   $5,000$  
  To Cash A/c.     $5,000$
  (Being rectification entry for purchase of goods transaction omitted to be recorded in the account)      
$2$ Machinery A/c. Dr.   $2,000$  
  To Sundry expense A/c.     $2,000$
  (Being error rectified for charges for machinery is debited to sundry expenses account)      
$3$ Devanshi A/c. Dr.   $2,400$  
  To Karan's A/c.     2,400
  (Being rectification entry for paid to Devanshi, debited to Karan's account by mistake)      
  Total   $9,400$ $9,400$
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Question 33 Marks
Pass necessary rectification entries to rectify the following journal entries written by Ramlal:
Date Particulars L.F. Debit(Rs.) Credit (Rs.)
$1$ Brokerage A/c. Dr.   $16,000$  
  To Cash A/c     $16,000$
  (Being the brokerage $Rs.16,000$ paid for the purchase of machinery for business.)      
$2$ Cash A/c. Dr.   $4,500$  
  To Karina's A/c.     $4,500$
  (Being the amount $Rs. 4,500$ written off as bad debts in last year, received in current year from Karina)      
$3$ Chaitali's A/c. Dr.   $6,900$  
  To Cash A/c.     $6,900$
  (Being the amount $Rs.6,900$ paid to Chaitali for cash purchase)      
  Total   $27,400$ $27,400$
Answer
Journal proper of Ramlal
Date Particulars L.F. Debit(Rs.) Credit (Rs.)
$1$ Machine A/c. Dr.   $16,000$  
  To Brokerage A/c.     $16,000$
  (Being the rectification of brokerage paid for purchase of machine debited wrongly to brokerage A/c)      
$2$ Karina's A/c. Dr.   $4,500$  
  To Bad debt recovered A/c.     $4,500$
  (Being the rectification of bad debts written off in last year received, credited wrongly to personal A/c)      
$3$ Purchase A/c. Dr.   $6,900$  
  To Chaitali's A/c     $6,900$
  (Being the rectification of cash purchase wrongly debited in Chaitali's A/c)      
  Total   $27,400$ $27,400$
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