Question - 32

Following errors were located in the books of a trader. Give the rectifying entries and show the effects on final accounts.
  1. Total of sales book was carried forward as Rs. 2433 instead of Rs. 3433.
  2. Discount allowed Rs. 400 was credited to discount A/c.
  3. Purchase of machinery Rs. 4,000 was entered in purchase book.
  4. The purchase book was undercasted by Rs. 1,000.
  5. A cheque of Rs. 4,000 received from vineet was dishonoured and defited to allowances A/c.
  6. Rs. 1,500 received from Vivek posted to the credit of sales account.
  7. Rs. 1,500 paid for repairs was posted as Rs. 150 in repairs A/c.