Rectification of Errors Important Question 3 for I.Com Part 1
Correct the following errors by passing journal entries
(ii) Machinery bought Rs.1,000 posted as purchases.
(iii) Sales book was overcastted Rs. 550.
(iv) Sold old furniture for Rs.250 passed through the day
(v) Carriage on machinery Rs. 500 has been debited to
Suspense account 1,000
(Purchases book rectified).
(ii) Furniture account 1,000
Purchases account 1,000
(Wrongly Debited to purchases a/c, now credited)
(iii) Sales account 550
Suspense account 550
(Overcast of sales book, now rectified)
(iv) Sales account 250
Furniture account 250
(Wrongly credit to sales a/, now rectified)
(v) Machinery account 500
Carriage account 500
(Wrongly debit to carriage a/c, now rectified)