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Following errors are discovered in the books of Sh. Ram Lal. Make the necessary entries to rectify them:(i) Purchases Journal was undercasted by ₹ 2,150.(ii) ₹ 500 received from K. Krishna was debited to his account.(iii) An amount of ₹ 3,000 withdrawn by the proprietor of the firm for his personal use was posted to the Travelling Expenses Account.(iv) An amount of ₹ 175 for a credit sale to R. Gopalan correctly entered in the Sales Book, has been debited to his account as ₹ 157. |
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Answer» Following errors are discovered in the books of Sh. Ram Lal. Make the necessary entries to rectify them: (i) Purchases Journal was undercasted by ₹ 2,150. (ii) ₹ 500 received from K. Krishna was debited to his account. (iii) An amount of ₹ 3,000 withdrawn by the proprietor of the firm for his personal use was posted to the Travelling Expenses Account. (iv) An amount of ₹ 175 for a credit sale to R. Gopalan correctly entered in the Sales Book, has been debited to his account as ₹ 157. |
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