3. Rectify the Following errors

1. A credit sales of goods to Sanjay ₹3,000/- has been wrongly passed through the ‘Purchase Book’.

2. A credit purchase of goods from Sheetal amounting to ₹2,000/- has been wrongly passed through the ‘Sales Book’.

3. A return of goods worth 4500/- to Umesh waspassed through the ‘Sales Return Book’.

4. A return of goods worth ₹900/- by Ganesh were entered in ‘Purchase Return Book’.

5. Credit Purchase from Neha ₹10,000/- were recoreded as ₹11,000/-


Solution :            
Journal  Proper 

Date 

Particulars 

L/F 

Debit ₹ 

Credit ₹ 

1. 

Sanjay A/c                           Dr. 

     To Purchase A/c 

     To Sales A/c    

[Being Credit sales of goods to Sanjay has been wrongly passed in purchase Book, Now Rectify] 

 

3,000 

 

3,000 

3,000 

2.  

Purchase A/c                      Dr. 

Sales A/c                             Dr. 

     To Sheetal A/c 

[Being credit purchase from Sheetal has been wrongly passed in Sales Book, Now Rectify] 

 

2,000 

2,000 

 

 

2,000 

3. 

Umesh A/c                         Dr.         To Purchase Return A/c  

   To Sales Return A/c     

[Being return of goods to Umesh was wrongly passed in Sales return Book, Now Rectify]                                      

 

500 

 

500 

500 

4. 

Sales Return A/c                  Dr. 

Purchase Return A/c          Dr.  

   To Ganesh A/c     

[Being return of goods by Ganesh were wrongly entered in Purchase Return Book, Now Rectify]   

 

 

900 

900 

 

 

900 

5. 

Neha A/c                             Dr.  

   To Purchase A/c  

[Being credit Purchase from Neha ₹10,000/- were recorded as ₹11,000, Now Rectify] 

 

 

1,000 

 

1,000 

 

Working Note： 

Sr. No. 

Wrong Entry 

Reverse Entry 

Correct Entry 

Rectifying Entry 

1. 

Purchase A/c Dr. 3,000 

   To Sanjay A/c    3,000 

Sanjay A/c Dr. 3,000 

  To Purchase A/c   3,000 

Sanjay A/c Dr. 3,000 

   To Sales A/c  3,000 

Sanjay A/c Dr. 3,000 

  To Purchase A/c 3,000 

  To Sales A/c         3,000 

2. 

Sheetal A/c Dr. 2,000 

   To Sales A/c    2,000 

Sales A/c Dr. 2,000 

   To Sheetal A/c      2,000 

Purchase A/c Dr.  2,000   

 To Sheetal A/c2,000 

Purchase A/c Dr. 2,000 

Sales A/c        Dr. 2,000 

    To Sheetal A/c  2,000 

3. 

Sales return A/c Dr.    500 

   To Umesh A/c      500 

Umesh A/c Dr. 500 

   To Sales Return A/c 500 

Umesh A/c Dr. 500 

  To Purchase Return           A/c 500 

Umesh A/c Dr.        500 

   To Purchase Return A/c 500 

   To Sales Return A/c                                         500  

 
 

 

 

 

 
 

4. 

Ganesh A/c Dr.       900 

   To Purchase Return      A/c   900 

Purchase Return  

A/c Dr. 900 

 To Ganesh A/c 900  

Sales Return  

A/c Dr.    900 

  To Ganesh A/c 900 

Sales Return  

A/c Dr. 900 

Purchase Return A/c Dr. 900 

   To Ganesh A/c       900 

5. 

Purchase  

A/c Dr.   10,000 

  To Neha A/c     10,000 

Neha A/c Dr. 10,000 

   To Purchase A/c   10,000 

Purchase 

 A/c Dr.            10,000 

  To Neha A/c 10,000 

Neha A/c Dr. 1,000 

   To Purchase A/c 1,000 

Popular posts from this blog

Sun and Moon are Partners in Partnership Firm sharing Profits and Losses equally. You are required to give effects of Adjustments with the help of following information

Trial Balance as on 31st March, 2019   Debit Balance   Amount   Credit Balance   Amount   Land & Building   40,000  Capital A/c Sun  33,500   Moon  33,500  Furniture  18,000  Current A/c: Sun   6,000  Machinery  40,000  Sundry Creditors  25,000  (Purchased on 01/07/18)    Bank Overdraft   10,000  Goodwill  2,000  Reserve Fund  5,000  Wages  2,000  Provident Fund  5,000  Current A/c: Moon  4,000      8% Debentures  8,000      (Purchased on (01/10/18)        Providend Fund Investment  3,500      Stock of Postal stamps  500        1,18,000     1,18,000               Adjustments:   1. Partners are entitled to get salary 6,000 p.a. in additional to their profit & loss sharing.   2. Depreciation on Land & Building, Furniture & Machinery @10%, 5% and 3% respectively.    3. Interest on Capital 5% p.a.     4. Closing stock 60,743   5. Wages included 1,000 as advance given to workers.   6. Interest due but not paid 800.   7. Total Net Profit amounted to 38,113.           Solutio
Read more

CLASS 11th BOOK KEEPING & ACCOUNTANCY

Class 11 Chapter 3 - Journal Entry Solution     Class 11 Chapter 4 - Ledger Accounts   Class 11 Chapter 5 - Subsidiary Book Solution   Class 11 Chapter 6 - Bank Reconciliation Statement     Class 11 Chapter 7 - Depreciation       Class 11 Chapter 8 - Rectification of Errors Solution in Accounting Journal Entry   Class 11 Chapter 9 - Final Account of Proprietary Concern         Maharashtra board Class 11th chapter 3 Journal Entry Solutions
Read more

Class 11th Chapter 4 Ledger Solutions | Class 11 Ledger Practical Problems Solutions

Image
PRACTICAL PROBLEMS   Q.1 Give Journal entries of the following posting from the ledger account.   Q.2 Prepare necessary ledger account from the following Subsidiary Books.   Q.3 From the following Transactions prepare necessary Ledger accounts in the Books of Vinay and balance the same. Q.4 Journalise the following transactions and prepare cash account only. Q.5 Prepare Aparna's account in the books of Suparna.   Q.6. Prepare Cash A/c, Bank A/c, Purchase A/c, sales A/c and Capital A/c, and balance the same in the books of Mandanlal.   Q.7. Journalise the following transactions; post them into Ledger for February 2019.   Q.8 Journalise the following transactions and prepare ledger accounts in the books of Sanjeev.   EXERCISE   Q.6 Complete the following table.     Image by- Edaccountancy   Q.7 Put ✔️ mark for the nature of balance for the following. Image by- Edaccountancy   The practical problems presented above aim to reinforce students' understanding of ledger accounts, subsi
Read more

Student Reviews

Very helpful for getting a solution. Thank you!

I like all your posts. You have done really good work. Thank you for the information you provide; it helped me a lot.

The answers are so perfect and proper 🌝

Nice explanation in full detail is very helpful.

It's very easy to learn.

Privacy Statement: We respect student privacy and do not share any personal information. Reviews are voluntarily provided to showcase genuine appreciation for our content.