Answer:To rectify the error of over adding the credit to Bhim's account by 200, you need to subtract 200 from the total credit. The corrected statement could be:
"The total credit in Bhim's account was mistakenly over-added by 200. To rectify this error, we should subtract 200 from the total credit to ensure an accurate account balance."
Answers & Comments
Answer:To rectify the error of over adding the credit to Bhim's account by 200, you need to subtract 200 from the total credit. The corrected statement could be:
"The total credit in Bhim's account was mistakenly over-added by 200. To rectify this error, we should subtract 200 from the total credit to ensure an accurate account balance."
Explanation:
Answer:
Byju's Answer
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Standard IX
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Mathematics
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Computation of Income Tax
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Rectify the f...
Question
Rectify the following errors found in the books of Bheem. Trial Balance had ₹ 930 excess credit. The difference has been posted to a Suspense Account:
(i) The total of Returns Inward Book has been cast ₹ 1,000 short.
(ii) The purchase of an office table costing ₹ 3,000 has been passed through the Purchases Book.
(iii) ₹ 3,750 paid for wages to workmen for making showcases had been charged to the Wages Account.
(iv) A purchase of ₹ 670 had been posted to the Creditors' Account as ₹ 600.
(v) A cheque for ₹ 2,000 received from Nakul had been dishonoured and was passed to the debit of the Allowances Account.
(vi) An amount of ₹ 15,720 due from Prasad written off as had in a previous year, was recovered and credited to the Personal Account of Prasad.
After rectification reflect the transactions in the Suspense Account.
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Solution
Journal
Date
Particulars
L.F.
Debit
Amount
(₹)
Credit
Amount
(₹)
(i)
Return Inwards A/c
Dr.
1,000
To Suspense A/c
1,000
(Return Inwards was undercast, now rectified)
(ii)
Furniture A/c
Dr.
3,000
To Purchases A/c
3,000
(Purchase of Office Furniture was wrongly entered in Purchases Book , now rectified)
(iii)
Furniture A/c
Dr.
3,750
To Wages A/c
3,750
(Wages paid for making showcases was wrongly charged to Wages Account, now rectified)
(iv)
Suspense A/c
Dr.
70
To Creditors
70
(Purchase of Rs 670 was Credited to Creditors as Rs 600, now rectified)
(v)
Nakul
Dr.
2,000
To Allowances A/c
2,000
(vi)
(Nakul's Cheque was dishonoured and was wrongly debited to Allowances Account, now rectified)
Prasad Dr.
To Bad Debts Recovered A/c
(Bad debts recovered from Prasad wrongly credited to his personal account, now rectified)
15,720
15,720
Suspense Account
Dr.
Cr.
Date
Particulars
Amount (₹)
Date
Particulars
Amount (₹)
Balance b/d
930
(i)
Return Inwards
1,000
(iv)
Creditors
70
1,000
1,000