Rectify the following errors:- 1. Goods for ₹ 5,500 were purchased from Modern Traders on credit, but no entry has yet been passed. 2. Purchase Return for ₹ 1,500 not recorded in the books. 3. Goods for ₹ 2,000 sold to 'Geeta Traders' on Credit were entered in the sales book as ₹ 200 only. 4. Goods of the value of ₹ 1,800 returned by Sunil & Co. were included in stock, but no entry was passed in the books. 5. Goods purchased for ₹ 900, entered in the purchases book as ₹ 9,000. 6. An invoice for goods sold to X was overcast by ₹ 100.

Rectify the following errors:- 1. Goods for ₹ 5,500 were purchase…

Question

Rectify the following errors:-

Goods for ₹ 5,500 were purchased from Modern Traders on credit, but no entry has yet been passed.
Purchase Return for ₹ 1,500 not recorded in the books.
Goods for ₹ 2,000 sold to 'Geeta Traders' on Credit were entered in the sales book as ₹ 200 only.
Goods of the value of ₹ 1,800 returned by Sunil & Co. were included in stock, but no entry was passed in the books.
Goods purchased for ₹ 900, entered in the purchases book as ₹ 9,000.
An invoice for goods sold to X was overcast by ₹ 100.

✓

Solution is as follow:

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Cheques paid into Bank ₹ 8,000, but out of these only cheques of ₹ 6,500 were cleared and credited by the Bankers upto 30th June.
Cheques of ₹ 9,200 were issued but out of these only cheques of ₹ 7,000 were presented for payment upto 30th June.
The receipt column of the Cash Book has been undercast by ₹ 200.
The Pass Book shows a credit of ₹ 330 as interest on investments collected by bankers and debit of ₹ 60 for bank charges.
On 29th June a Customer deposited ₹ 3,000 direct in the bank account but it was entered only in the Pass Book.

A's overdraft as per Pass Book ₹ 20,000 as at 31st Dec.
On 30th December, cheques had been issued for ₹ 80,000, of which cheques worth ₹ 15,000 only had been encashed up to 31st December.
Cheques amounting to ₹ 6,500 had been paid into the bank for collection but of these only ₹ 2,500 had been credited in the Pass Book.
The bank has charged ₹ 700 as interest on overdraft and the intimation of which has been received on 2nd January 2015.
The Bank Pass Book shows credit for ₹ 2,000 representing ₹ 1,400 paid by debtor of A direct into the bank and ₹ 600 collected direct by bank in respect of interest on A,s investment. A had no knowledge of these items.
A cheque for ₹ 3,600 has been debited in bank column of Cash Book by A, but it was not sent to bank at all.

A payment of ₹ 5,000 for salaries (to Mr. Ram) has been posted twice to the Salaries Account.
₹ 750 received from Rajesh are entered on the debit side of the Cash Book. No posting was done in Rajesh’s Account.
Sales Book was overcasted by ₹ 3,000.
Goods (Cost ₹ 2,000, Sales Price ₹ 2,500) distributed as samples among prospective customers were not recorded anywhere.
A sum of ₹ 1,500 written off as depreciation on furniture was not debited to Depreciation Account.

2016
June 7	Purchased from Arora & Co., Nai Sarak
	10 Chairs @ ₹ 200 each
	1 Table for ₹ 600
	Trade discount 10%
June 10	Sold to Sudha Furniture Co., Agra
	2 Almirahs @ ₹ 2,000 each
	Less: 15%
June 12	Sold to Meera Mart for cash
June 12	10 Tables @ ₹ 1,000 each
June 15	Purchased from Hira Lal & Sons for cash
June 15	15 Chairs @ ₹ 350 each
June 16	Purchased from Fateh Chand & Co., Delhi
June 16	5 Chairs @ ₹ 180 each
June 25	Sold to Ravi Sharma, Delhi
	2 Dining Tables @ ₹ 6,000 each
	Less: 10%

Goods for ₹ 5,500 were purchased from Modern Traders on credit, but no entry has yet been passed.
Purchase Return for ₹ 1,500 not recorded in the books.
Goods for ₹ 2,000 sold to 'Geeta Traders' on Credit were entered in the sales book as ₹ 200 only.
Goods of the value of ₹ 1,800 returned by Sunil & Co. were included in stock, but no entry was passed in the books.
Goods purchased for ₹ 900, entered in the purchases book as ₹ 9,000.
An invoice for goods sold to X was overcast by ₹ 100.