Page 224 - ISCDEBK-XI

21.12 Double Entry Book Keeping—ISC XI
Solution: RECTIFYING JOURNAL ENTRIES

Date Particulars L.F. Dr. (`) Cr. (`)
(i) Returns Inward A/c ...Dr. 100
To Suspense A/c 100
(Being Returns Inward Book undercast by ` 100, now rectified)
(ii) Kishan Chand ...Dr. 5,810
To Ram Chand 5,010
To Suspense A/c 800
(Being cash of ` 5,810 paid to Kishan Chand wrongly debited to
Ram Chand as ` 5,010, now rectified)

(iii) Furniture A/c ...Dr. 1,500
To Purchases A/c 1,500
(Being purchase of furniture wrongly debited to Purchases Account,
now rectified)

(iv) Purchases A/c ...Dr. 450
To Suspense A/c 450
(Being purchase of ` 500 wrongly posted as ` 50 to the Purchases
Account, now rectified)
(v) Machinery A/c ...Dr. 700
To Wages A/c 700
(Being wages paid for erection of machinery wrongly debited to
Wages Account, now rectified)
(vi) Drawings A/c ...Dr. 1,000
To Purchases A/c 1,000
(Being goods purchased to personal use wrongly debited to
Purchases Account, now recorded)
(vii) Depreciation A/c ...Dr. 1,000
To Suspense A/c 1,000
(Being depreciation on machinery not posted to Depreciation Account,
now rectified)
(viii) Suspense A/c ...Dr. 2,000
To Sunder 1,000
To Raghu 1,000
(Being ` 1,000 received from Raghu wrongly debited to Sunder’s
Account, now rectified)
(ix) Suspense A/c ...Dr. 10,000
To Radhey Mohan ( ` 5,000 × 2) 10,000
(Being cash received from Radhey Mohan of ` 5,000 wrongly debited
to his account, now rectified)
(x) Hari Kishan ...Dr. 2,000
To Returns Outward A/c 2,000
(Being purchases return to Hari Kishan not recorded in the books,
now recorded)