Chapter 17 – Rectification Of Errors – TS Grewal 2022
Miscellaneous Transactions
Question 38
Q38. Pass the rectification entries for the following transactions:
(i) Repairs to plant amounting to 2,000 had been charged to Plant and Machinery Account.
(ii) Wages paid to the firm’s workmen for making certain additions to machinery amounting to 1,340 were debited to Wages Account.
(iii) A cheque for 7,500 received from Sandesh was credited to the account of Ramesh.
(iv) Goods to the value of 7,000 returned by Prateek were included in closing stock, but no entry was made in the books.
(v) Goods costing 5,000 were purchased for various members of the staff and the cost was included in ‘Purchases’. A similar amount was deducted from the salaries of the staff members concerned and the net payments to them debited to Salaries Account.
(vi) Credit purchase of old machinery from Sohan for 1,70,000 was entered in the Purchase Book as purchase from Mohan for 7,10,000. 30,000 paid as repairing charges on the reconditioning of a newly purchased second hand machinery were debited to General Expenses Account.
(vii) Debit and Credit totals of discount columns in the Cash Book which come to 400 and 370 respectively have not been posted to Discount Accounts.
Solution
Pass the rectification entries – Q38
