Q 4. Rectify the following Errors:i.Credit sales to M 5,000 were recorded as 5,400.i.6,000 paid for office furniture was debited to office expenses accountAn invoice for goods sold to X was overcast by 100.iv.A return of goods worth 500 by Ganesh were entered in 'Purchases Return Bookiii.Goods returned from R 10,000 were recorded as 11,000.V.

The journal entries keeps the record of day to day transactions of the business.

Q 4. Rectify the following Errors: i. Credit sales to M 5,000 were recorded as 5,400. i. 6,000 paid for office furniture was debited to office expenses account iii. An invoice for goods sold to X was overcast by 100. iv. Goods returned from R 10,000 were recorded as 11,000. V. A return of goods worth 500 by Ganesh were entered in 'Purchases Return Book'

Q 4. Rectify the following Errors: i. Credit sales to M 5,000 were recorded as 5,400. i. 6,000 paid for office furniture was debited to office expenses account iii. An invoice for goods sold to X was overcast by 100. iv. Goods returned from R 10,000 were recorded as 11,000. V. A return of goods worth 500 by Ganesh were entered in 'Purchases Return Book'

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section: Chapter Questions

Problem 3AP

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