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The error is that there is a wrong credit in the account of Krishan Kishore and omission of credit in the account of Kamal Kishore; Krishan Kishore should be debited and Kamal Kishore be credited. The following three entries make this clear:
Sep 26, 2023 · (i) A credit sales of goods to Ram Rs. 2,500 has been wrongly passed through the ‘Purchases Book’. (ii) A credit purchase of goods from Shyam amounting to Rs. 1,000 has been wrongly passed through the ‘Sales Book’. (iii) A return of goods worth Rs. 1,100 to Mohan was passed through the ‘Sales Return Book’.
Q 1. Ram, a fruit seller, sold oranges and received Rs 100. He borrowed Rs 100 from his friend Shyam. Classify them as revenue and liability. View Solution. Q 2. If a sale of Rs 500 to Ram is debited as only of Rs 50 to his account, while a sale of Rs 50 to Shyam is debited as of Rs 500 to his account, then which type of error is this?
Pass the Journal entries to rectify the following errors detected during preparation of the Trial Balance : (i) Wages paid for construction of office building debited to wages account Rs. 20,000. (ii) A credit sale of goods Rs. 1,200 to Ramesh has been wrongly passed through the Purchase Book.
(ii) A credit purchase of goods from Shyam amounting to ₹ 1,000 has been wrongly passed through the 'Sales Book'. (iii) A return of goods worth ₹ 1,100 to Mohan was passed through the 'Sales Return Book'.
Refer to MCQs for Accountancy Class 11 with Answers Chapter 6 Trial Balance and Rectification of Errors designed as per the latest syllabus issued by CBSE. All Multiple choice questions have been provided with solutions and have been prepared based on the expected pattern in upcoming board exams. MCQs Chapter 6 Trial Balance and Rectification ...
A Sales Invoice for Rs.1,000 for goods sold on credit to B. Basu was entered in the Purchases Book but in the Ledger, the amount was correctly debited to the account of B. Basu. ii. Goods bought on credit from Ram Lal for Rs.1,500 were wrongly debited to his account as Rs.5,100.
