Question
Rectify the following errors:
1) Goods for ₹7,500/- were purchased from Vaishali Traders on credit, but no entry has yet been
passed.
2) Purchase return for ₹ 2,000/- not recorded in the books.
3) Goods for ₹ 3,000/- sold to Anjali Traders on Credit were entered in Sales Book as ₹ 300 only
4) Goods of the value of ₹ 2,000/- returned by Sumit & Co. were included in stock, but no entry
was passed in the books.
5) Goods purchased for ₹ 1,200/- entered in the Purchases Book as ₹12,000/-
6) An invoice for goods sold to Neeta was overcast by ₹200/-

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2018
Feb 1 Sold goods to Raghav ₹6,000.
3 Received cash from Raghav ₹5,400 and allowed him cash discount ₹600.
17 Invoiced goods to Raghav ₹ 14000.
20 Received from Raghav ₹ 6,000.
Journalise the following transactions in the books of Sankalp General Stores
2019
July 1 Started business with Cash ₹ 1,00,000, Stock of Goods worth ₹ 50,000,
and Computer ₹ 50,000.
4 Purchased goods from Karina on credit ₹ 10,000 at 5% trade discount.
10 Sold goods to Priyanka ₹ 20,000 at 10% trade discount.
13 Paid into State Bank of India ₹ 50,000.
15 Goods worth ₹ 2,000 lost by theft.
18 Paid for Rent ₹ 4,000.
20 Received Cash of ₹ 17,500 from Priyanka in full settlement of her account.
25 Paid for Stationery purchased ₹ 8,000.
Calculate the following: Bought goods from Ranjan ₹ 10,000 @ 5% GST and 10% cash discount. Calculate cash discount.
Amar bought goods worth ₹20,000 from Rakesh at 10% trade discount.
Sold Motor Car for ₹ $1,00,000$ at $28 \%$ GST and amount received by cheque

Add: \begin{tabular}{ll}

Cost of Motor Car $=$ & $₹ 1,00,000$ \\

CGST $14 \%$ & $=₹ 14,000$ \\

SGST $14 \%$ & $=₹ 14,000$ \\

\hline Net value & $=₹ 1,28,000$

\end{tabular}

The Cash Book of Pankaj shows a credit balance of ` 32,490 in the bank column on 30th September
2018. Prepare Bank Reconciliation Statement as on 30th September 2018.
i) Three cheques of ` 8,200, ` 11,360 and ` 16,440 were deposited into bank but only a cheque of
`11,360 was credited by bank before 30th September 2018.
ii) Cheques issued but not encashed before 30th September 2018 was ` 93,000.
iii) Bank charges for issue of cheque book ` 250 and SMS alerts ` 170 was debited in Pass Book only
iv) Mr. Shreyans transferred ` 1,23,200 through NEFT but was wrongly debited with ` 12,320 in
our Cash Book.
v) Receipt side of Pass Book was undercast by ` 1,000.
vi) Dividend collected and credited by bank ` 12,500, was not entered in Cash Book.
Prepare a simple cash book of Mr. Shriram from the following details:
2019 Feb.
1 Balance of cash ₹ 65,500.
2 Brought additional capital ₹ 12,000.
4 Received from Nilesh on account ₹ 3,800.
7 Purchased goods from United Ltd. ₹ 16,000 and paid half the amount immediately.
9 Received commission from Aarti Traders ₹ 2,650.
10 Paid to Prithviraj Traders on account ₹ 17,800.
13 Purchased stationery for office use ₹ 2,460.
17 Received rent ₹ 4,900.
20 Paid ₹ 1,750 for insurance premium.
22 Sold goods for cash ₹ 13,800.
25 Purchased 10% debentures of ₹ 20,000
27 Paid telephone bill ₹ 3,000 and electricity bill ₹ 2,340.
28 Deposited into the bank all cash in excess of ₹ 11,000.
Calculate the following: Paid Transport charges ₹ 10,000 @ 5% GST. Calculate CGST & SGST.
Cash Book of Kunal showed an Overdraft of ₹ 36,280 as on 31st July 2019. On comparing his Cash
Book and Pass Book following differences were found:
i) An amount of ₹ 18,700 was directly paid into bank by our customer Manish, was not recorded
in Cash Book.
ii) Cheque of ₹ 18,900 deposited in the bank, was collected and credited by bank but was entered
in Cash Book as ₹ 19,800.
iii) Cheques issued for salary to staff ₹ 25,000 on 27th July 2019 was presented for payment only
on 4th Aug 2019.
iv) Cash ₹ 20,000 withdrawn from ATM for office use was not recorded in Cash Book.
v) Debit side of Cash Book, bank column was overcast by ₹ 100.
vi) As per standing instruction bank paid our office rent ₹ 19,500.
vii) Commission collected by bank ₹ 3,750 on behalf of us was not recorded in Cash Book.
Prepare Bank Reconciliation Statement as on 31st July 2019.
Example : Pass the entries in the Journal Proper
1) Purchased Furniture from M/s Patel Furniture on credit for ₹ 74,000
2) Sold Machinery for ₹ 9,400 to Suraj on credit.
3) Goods of ₹ 4,000 were withdrawn by Proprietor for his Personal use.
4) Goods distributed as free samples ₹ 11,000
5) Goods of ₹ 8,500 were lost by fire.
6) Cash Discount Received from Seema ₹ 500
7) Allowed Cash Discount to Hemant ₹ 600