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Question 26 Chapter 10 – Unimax Publications of Class 11
26. Pass rectifying journal entries:
(1) A credit sales of goods for ₹ 2,500 to Krishna has been wrongly passed through the purchases book.
(2) ₹ 5,000 paid for freight on Machinery purchases was debited to freight account as ₹ 500.
(3) Returns inward book has been wrongly wrongly overcast by ₹ 100.
(4) An amount of ₹ 500 due from Ramesh which had been written off as bad debt in a previous year was recovered and had been posted to the personal account of Ramesh.
(5) A sum of ₹ 460 owed by Hari had not been included in the list debtors.
The solution of Question 26 Chapter 10 – Unimax Publications of Class 11
| Journal | ||||||
| Date | Particulars | L.F. | Debit | Credit | ||
| 1 | Krishna A/c | Dr. | 5,000 | |||
| To Sales A/c | 2,500 | |||||
| To Purchases A/c | 2,500 | |||||
| (Being sales to Krishna recorded in purchases book, now rectified) | ||||||
| 2 | Machinery A/c | Dr. | 5,000 | |||
| To Freight A/c | 500 | |||||
| To Suspense A/c | 4,500 | |||||
| (Being paid freight on machinery purchases debited freight a/c but wrongly amount, now rectified) | ||||||
| 3 | Suspense A/c | Dr. | 100 | |||
| To Return inward A/c | 100 | |||||
| (Beingreturns inward book overcast, now rectified) | ||||||
| 4 | Ramesh’s A/c | Dr. | 500 | |||
| ToBad debts recovered A/c | 500 | |||||
| (Being amount due from Ramesh, written off as bad debts in last year, now recovered but debited to his personal now rectified) | ||||||
| 5 | Debtors A/c | Dr. | 460 | |||
| To Suspense A/c | 460 | |||||
| (Being sum owned by Hari omitted to include in debtors, now rectified) | ||||||
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