The rectification entries, Financial Accounting

Assignment Help:

Show the rectification entries for the following:                                        (10 marks)

a.    The Sales account is undercast by Rs.15,000

b.    Goods returned by the customer Mr.X of Rs.5650 has been  posted in the Return Inward Account as Rs.5560 and in Mr.X a/c as Rs.6,550.

c.    Salary paid Rs.6,000 has been posted to Rent account

d.    Cash received from Ram posted to Shyam account Rs.7,000

e.    Cash received from Jadu Rs.8,640 has been posted to the debit of Madhu's a/c


Related Discussions:- The rectification entries

Draw x-bar process control chart and calculate probability , Kevin Murtuag...

Kevin Murtuagh, manager of an national reservation service for a nationwide chain of luxury hotels, is concerned about productivity of his operation.  Analysis of recent historical

Inventory, HOW TO RECORD INVENTORY AT NET REALISABLE VALUE ON JOURNAL

HOW TO RECORD INVENTORY AT NET REALISABLE VALUE ON JOURNAL

Explain the term- not-for-profit organisations, Explain the term- Not-for-p...

Explain the term- Not-for-profit organisations There are many organisations that don't exist mainly for the pursuit of profit. Instance include: ?charities ?clubs and ass

Calculate the new interest rate and excel function pv, Continuing growth of...

Continuing growth of the company has required that we issue the company's corporate debt soon. As you know, in 6 months we plan to issue $10 million worth of 20-year corporate bond

Managerial uses of the primary ratio, The return on investment has been apt...

The return on investment has been aptly about as a primary ratio as it gives the relative net profit earned on the capital utilized. It is one particular measure where the last out

Cash budget, Beginning balance 24,000 cash Sales 250,000 Gross profit 45% o...

Beginning balance 24,000 cash Sales 250,000 Gross profit 45% of sales Accounts receivable increase by 24,000 Accounts payable increased by 51,000 Inventory increased by 98,000 Sell

Correction of errors, How to treat them both which affect the trial balance...

How to treat them both which affect the trial balance and which dont affect the trial balance

Prepare a cash budget, The following information for the six months ended ...

The following information for the six months ended 31 December 2009 relates to the business of Mr N Morris: a) Opening cash (including bank) balance Rs 1,200 b) Productio

Statute of limitations, Statute of Limitations - This sets out the period w...

Statute of Limitations - This sets out the period within that actions may be brought upon claims or within which rights may be enforced. As it concerns to tax returns, statute of l

Determine the budgeted profit for period, Questikon: For Period Wilson ...

Questikon: For Period Wilson Ltd has produced the following budget figures for Product X: For the period, the budgeted fixed overhead is Rs100,000 and the budgeted sales ar

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd