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Question No 16 Chapter No 17
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16.Give the rectifying entries of the following:
(i) Sales of 20,000 to Manoj were recorded as 2,000 in the Sales Book.
(ii) An amount of 25,000 spent for the extension of machinery has been debited to the Wages Account.
(iii) Discount received from Ram & Co. 350, has not been entered in the discount column of the Cash Book.
(iv) Goods of 3,000 sold to Mahesh were recorded in the Purchases Book
The solution of Question No 16 Chapter No 16:-
| Date | Particulars | L.F. | Debit | Credit | |
| i | Monoj A/c | Dr. | 18,000 | ||
| To Sales A/c | 18,000 | ||||
| (Being Sales Rs 20,000 was recorded wrongly as Rs 2,000, now rectified) | |||||
| ii | Machinery A/c | Dr. | 25,000 | ||
| To Wages A/c | 25,000 | ||||
| (Being Received Rs 750 from Rajesh was omitted to be posted his account, now rectified)) | |||||
| iii | Ram & Co. A/c | Dr. | 4,750 | ||
| To Discount Received A/c | 4,750 | ||||
| (Being Discount received from Ram & Co. not been entered in Cash Book, now rectified) | |||||
| iv | Mahesh A/c | Dr. | 6,000 | ||
| To Sales A/c | 3,000 | ||||
| To Purchases A/c | 3,000 | ||||
| (Being Goods sold to Mahesh was recorded wrongly in Purchases Book now rectified) | |||||
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Error Rectification in accounting – Explanation with examples
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Also, Check out the solved question of previous Chapters: –
- Chapter No. 1 – Introduction to Accounting
- Chapter No. 2 – Basic Accounting Terms
- Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
- Chapter No. 4 – Bases of Accounting
- Chapter No. 5 – Accounting Equation
- Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
- Goods and Services Tax(GST)
- Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
- Chapter No. 8 – Journal
- Chapter No. 9 – Ledger
- Chapter No. 10 – Special Purpose Books I – Cash Book
- Chapter No. 11 – Special Purpose Books II – Other Books
- Chapter No. 12 – Bank Reconciliation Statement
- Chapter No. 13 – Trial Balance
- Chapter No. 14 – Depreciation
- Chapter No. 15 – Provisions and Reserves
- Chapter No. 16 – Accounting for Bills of Exchange
- Chapter No. 17 – Rectification of Errors
- Chapter No. 18 – Financial Statements of Sole Proprietorship
- Chapter No. 19 – Adjustments in preparation of Financial Statements
- Chapter No. 20 – Accounts from incomplete Records – Single Entry System
- Chapter No. 21 – Computers in Accounting
- Chapter No. 22 – Accounting Software – Tally
- Chapter No. 5 – Accounting Equation
- Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
- Goods and Services Tax(GST)
- Chapter No. 8 – Journal
- Chapter No. 9 – Ledger
- Chapter No. 10 – Special Purpose Books I – Cash Book
Check out T.S. Grewal +1 Book 2019 @ Official Website of Sultan Chand Publication
T.S. Grewal’s Double Entry Book Keeping