Give entries in the General Journal to correct each of the following errors detected before closing the books. A purchase of furniture worth Rs. 1000 ha been posted to purchase account. Goods worth Rs. 200 were returned by Mr. Sajid and were taken into stock but were not recorded in the book. Repair of machinery was charged to machinery account Rs. 350. Goods value, at cost, Rs. 400 taken by the owner for his personal use was debited to his drawing account and credited to sales account. Goods sold to Sami worth Rs. 680 were debited to his account as Rs. 860
Give entries in the General Journal to correct each of the following errors detected before closing the books. A purchase of furniture worth Rs. 1000 ha been posted to purchase account. Goods worth Rs. 200 were returned by Mr. Sajid and were taken into stock but were not recorded in the book. Repair of machinery was charged to machinery account Rs. 350. Goods value, at cost, Rs. 400 taken by the owner for his personal use was debited to his drawing account and credited to sales account. Goods sold to Sami worth Rs. 680 were debited to his account as Rs. 860
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Give entries in the General Journal to correct each of the following errors detected before closing the books.
- A purchase of furniture worth Rs. 1000 ha been posted to purchase account.
- Goods worth Rs. 200 were returned by Mr. Sajid and were taken into stock but were not recorded in the book.
- Repair of machinery was charged to machinery account Rs. 350.
- Goods value, at cost, Rs. 400 taken by the owner for his personal use was debited to his drawing account and credited to sales account.
Goods sold to Sami worth Rs. 680 were debited to his account as Rs. 860
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