https://essayhope.com/wp-content/uploads/2020/02/logo-1-300x75.png 0 0 pyta https://essayhope.com/wp-content/uploads/2020/02/logo-1-300x75.png pyta2022-09-09 14:34:292022-09-09 14:34:29Illustration 1 Goods amounting to Rs. 75 were sold to Mohan for cash. It was correctly recorded in the cash book but was wrongly
Illustration 1 Goods amounting to Rs. 75 were sold to Mohan for cash. It was correctly recorded in the cash book but was wrongly credited to Mohan’s account also. Illustration 2 Jeyaseeli is a sole proprietor having a provisions store. Following are the transactions during the month of January 2022. Journalize them. • Commenced business with cash Rs.80,000 • Deposited cash with bank Rs.40,000 • Purchased goods by paying cash Rs. 5,000 • Purchased goods from Lipton & Co. on credit RS. 10,000 • Sold goods to Joy and received cash of Rs. 11,000 • Paid salaries by cash RS. 5,000 • Bought furniture by cash Rs. 4,000 • Paid electricity charges by cash Rs. 1,000 • Bank paid insurance premium on furniture as per standing instructions Rs. 300 Illustration 3 Rectify the following Errors: (1) Rs. 5,000 Paid for furniture purchased has been debited to the purchases account. (2) Wages paid Rs. 7,000 for installation of new machinery were recorded in the wages account. (3) Goods sold to Hari Rs. 10,000 not recorded. (4) Rs. 2,500 received from Monu has been credited to Sonu A/c. (5) Rent paid Rs. 1,000 wrongly debited to Landlord Account. (6) Credit Purchase from Raman Rs. 15,000 was wrongly recorded in the sales book. (7) Credit sales to Geeta Rs. 8,.800 were recorded as Rs, 8,800 (8) Goods Rs. 5,000 withdrawn by the proprietor has not been recorded.