Question no 17 Chapter No 15 - Unimax Class 11

Rectify and compute corrected profit: Net profit before rectification was ₹50,000. Errors: (1) Wages ₹10,000 debited to Machinery; (2) Sales book undercast by ₹3,000; (3) Purchase return ₹2,000 omitted; (4) Cash paid to supplier ₹4,000 posted to debit; (5) Discount allowed ₹500 posted to Discount Received. Calculate corrected Net Profit.