Pass journal entries to rectify the following errors. (i) Credit purch

1.	Pass journal entries to rectify the following errors. (i) Credit purchase of goods of Rs. 3,000 from Viraj & Co. was not recorded in the books although the goods were taken into stock. (ii) Credit sale of goods to Harish amounting to Rs. 10,000 was posted to the account of Haneef. (iii) Acquisition charges on the purchase of a new building amounting of Rs. 10,000 were debited to the sundry expenses account. (iv) Outstanding telephone charges of Rs. 6,000 had been completely omitted. (v) Material from store Rs. 15,000 and wages Rs. 6,000 had been used in making tools and implements for use in own factory, but no adjustments were made in the books.
Answer» Pass journal entries to rectify the following errors. (i) Credit purchase of goods of Rs. 3,000 from Viraj & Co. was not recorded in the books although the goods were taken into stock. (ii) Credit sale of goods to Harish amounting to Rs. 10,000 was posted to the account of Haneef. (iii) Acquisition charges on the purchase of a new building amounting of Rs. 10,000 were debited to the sundry expenses account. (iv) Outstanding telephone charges of Rs. 6,000 had been completely omitted. (v) Material from store Rs. 15,000 and wages Rs. 6,000 had been used in making tools and implements for use in own factory, but no adjustments were made in the books.

Pass journal entries to rectify the following errors. (i) Credit purchase of goods of Rs. 3,000 from Viraj & Co. was not recorded in the books although the goods were taken into stock. (ii) Credit sale of goods to Harish amounting to Rs. 10,000 was posted to the account of Haneef. (iii) Acquisition charges on the purchase of a new building amounting of Rs. 10,000 were debited to the sundry expenses account. (iv) Outstanding telephone charges of Rs. 6,000 had been completely omitted. (v) Material from store Rs. 15,000 and wages Rs. 6,000 had been used in making tools and implements for use in own factory, but no adjustments were made in the books.

Answer»

Pass journal entries to rectify the following errors.

(i) Credit purchase of goods of Rs. 3,000 from Viraj & Co. was not recorded in the books although the goods were taken into stock.

(ii) Credit sale of goods to Harish amounting to Rs. 10,000 was posted to the account of Haneef.

(iii) Acquisition charges on the purchase of a new building amounting of Rs. 10,000 were debited to the sundry expenses account.

(iv) Outstanding telephone charges of Rs. 6,000 had been completely omitted.

(v) Material from store Rs. 15,000 and wages Rs. 6,000 had been used in making tools and implements for use in own factory, but no adjustments were made in the books.

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