Question
What are errors of Omission?
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a.
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Started business with cash
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₹ 1,20.000
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b.
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Purchased goods for cash
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₹ 10,000
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c.
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Rent received
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₹ 5,000
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d.
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Salary outstanding
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₹ 2,000
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e.
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Prepaid Insurance
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₹ 1,000
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f.
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Received interest
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₹ 700
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g.
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Sold goods for cash (Costing ₹ 5,000)
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₹ 7,000
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h.
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Goods destroyed by fire
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₹ 500
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2019
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₹
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March 1
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Manohar Lal & Sons started business with cash
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60,000
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March 2
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Purchased furniture for cash
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10,000
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March 4
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Purchased goods for cash
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25,000
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March 5
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Bought goods from Kamlesh
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15,000
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March 10
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Paid cash to Kamlesh
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15,000
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March 16
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Purchased goods from Sohan
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6,000
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March 18
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Purchased goods from Sohan for cash
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8,000
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March 20
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Paid rent for the office
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1,000
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| (₹) | ||
| i. | Brij Mohan commenced business with Cash | 1,00,000 |
| ii. | Bought goods for Cash | 60,000 |
| iii. | $\frac{1}{3}\text{rd}$ of the above goods sold at a profit of 20% on cost. Half the payment recieved in Cash | |
| iv. | Purchased typewritter for office use | 15,000 |
| v. | Purchased goods on Credit from X | 25,000 |
| vi. | Paid to X | 15,000 |
| vii. | Paid Salary | 3,000 |
| viii. | Received commission | 500 |
| ix. | Sold goods for Cash (Cost ₹ 50,000) | 60,000 |