Hello Students we are providing most Important questions of ca foundation Accountancy lesson 6 rectification of errors with solutions
Q.1 How would you rectify the following erroRs.. in the book of Rama & Co.?
The total to the Purchases Book has been undercast by RS.. 100.
The Returns Inward Book has been undercast by RS.50.
A sum of RS..250 written off as depreciation on Machinery has not been debited to the Depreciation Account.
A payment of RS..75 for salaries (to Mohan) has been posted twice to the Salaries Account.
The total of Bills Receivable Book RS.. 1,500 has been posted to the credit of Bills Receivable Account.
An amount of RS.. 151 for a credit sale to Hari, although correctly entered in the Sales Book, has been posted as RS..115.
Discount allowed to Satish RS..25 has not been entered in the Discount Column of the Cash Book, the amount has been posted correctly to the credit of his peRs..onal account
Q. 2 The following erroRs.. were found in the book of Ram Prasad & Sons. Give the necessary entries to correct them.
RS..500 paid for furniture purchased has been charged to ordinary Purchases Account.
RepaiRs.. were debited to the Building Account for RS..50.
An amount of RS..100 withdrawn by the proprietor for his peRs..onal use has been debited to Trade Expenses Account.
RS..100 paid for rent debited to the Landlord's Account.
Salary RS.. 125 paid to a clerk due to him has been debited to his peRsonal account.
RS. 100 received from Shah & Co. has been wrongly entered as from Shaw & Co.
RS..700 paid in cash for a typewriter was charged to the Office Expenses Account.
Q. 3 Give journal entries to rectify the following:
A purchase of goods from Ram amounting to RS... 150 has been wrongly entered through the Sales Book.
A Credit sale of goods amounting RS.. 120 to Ramesh has been wrongly passed through the Purchase Book.
On 31st December 2016 goods of the value ofRS..300 were returned by Hari Saran and were taken inventory on the same date but no entry was passed in the books.
An amount of.RS..200 due from Mahesh Chand, which had been written off as a Bad Debt in a previous year, was unexpectedly recovered, and had been posted to the peRs..onal account of Mahesh Chand.
A Cheque for RS.. 100 received from Man Mohan was dishonoured and had been posted to the debit of Sales Returns Account.
Q.4 Correct the following erroRs.. (i) without opening a Suspense Account and (ii) opening a Suspense Account:
The Sales Book has been totalled RS..100 short.
Goods worth RS.. 150 returned by Green & Co. have not been recorded anywhere.
Goods purchased RS..250 have been posted to the debit of the supplier Gupta & Co.
Furniture purchased from Gulab & Bros, RS.. 1,000 has been entered in Purchases Day Book.
Discount received from Red & Black RS.. 15 has not been entered in the Discount Column of the Cash Book.
Discount allowed to G. Mohan & Co. RS..18 has not been entered in the Discount Column of the Cash Book. The account of G. Mohan & Co. has, however, been correctly posted.
Q. 5 Correct the following errors., found in the books of Mr. Dutt. The Trial Balance was out by Rs.493 excess credit.The difference thus been posted in suspense account
An amount of RS. 100 was received from D. Das on 31st December, 2015 but has been omitted to enter in the Cash Book.
The total of Returns Inward Book for December has been cast RS..100 short.
The purchase of an office table costing RS..300 has been passed through the Purchases Day Book.
RS..375 paid for Wages to workmen for making show-cases had been charged to "Wages Account".
A purchase of RS..67 had been posted to the trade payables account as RS..60.
A cheque for RS.. 200 received from P. C. Joshi had been dishonored and was passed to the debit of Allowances Account".
RS.. 1.000 paid for the purchase of a motorcycle for Mr. Dutt had been charged to "Miscellaneous Expenses Account".
Goods amounting to RS.. 100 had been returned by customer and were taken into inventory, but no entry in respect there of, was made into ihe books.
A sale of RS..200 to Singh & Co. was wrongly credited to their account. Entry was correctly made in the sales book.
Q. 6 The following error affecting the account for the year 2015 were detected in the books of Jain Brothers. Delhi:
Sale of old Furniture RS.. 150 treated as sale of goods.
Receipt of RS. 500 from Ram Mohan credited to Shyam Sunder.
Goods worth RS. 100 brought from Mohan Narain have remained unrecorded so far.
A return of RS.. 120 from Mukesh posted to his debit.
A return of RS..90 to Shyam Sunder posted as RS.. 9 in his account.
Rent of proprietor's residence, RS..600 debited to rent A/c.
A payment of RS..215 to Mohammad Sadiq posted to his credit as RS..125.
Sales Book added RS..900 short.
The total of Bills Receivable Book RS.. 1,500 left un posted.
You are required to pass the necessary rectifying entries and show how the trial balance would be affected by the erroRs...