Question

Rectify the following errors before the preparation of trial balance: 

(a) Returns outward book was undercast by Rs. 2,000 

(b) Returns inward book total was taken as Rs. 15,000 instead of Rs. 14,000 

(c) The total of the purchases account was carried forward Rs. 100 less.

Answer 1

(a) Returns outward Account should be credited with Rs. 2,000 

(b) Sales returns account should be credited with Rs. 1,000 

(c) Purchases account should be debited with Rs. 100