A machine is purchased for Rs. 10,000 which was wrongly recorded in purchase account. Due to this error …….

Trial balance of Anuj did not agree. It showed an excess credit of 6,000. He put the difference to suspense account. He discovered the following errors (a) Cash received from Ravish 8,000 posted to his account as 6,000. (b) Returns inwards book overcast by 1,000. (c) Total of sales book 10,000 was not posted to Sales account. (d) Credit purchases from Nanak 7,000 were recorded in sales Book. However, Nanak’s account was correctly credited. (e) Machinery purchased for  10,000 was posted to purchases account as 5,000. Rectify the errors and prepare suspense account.

Rectify the following errors : (a) Furniture purchased for  10,000 wrongly debited to purchases account. (b) Machinery purchased on credit from Raman for  20,000 was recorded through purchases book. (c) Repairs on machinery  1,400 debited to machinery account. (d) Repairs on overhauling of secondhand machinery purchased  2,000 was debited to Repairs account. (e) Sale of old machinery at book value of  3,000 was credited to sales account.

Rectify the following errors assuming that suspension account was opened. Ascertain the difference in trial balance. (a) Furniture purchased for 10,000 wrongly debited to purchase account as 4,000. (b) Machinery purchased on credit from Raman for 20,000 recorded through Purchases Book as 6,000. (c) Repairs on machinery 1,400 debited to Machinery account as 2,400. (d) Repairs on overhauling of second hand machinery purchased 2,000 was debited to Repairs account as 200. (e) Sale of old machinery at book value 3,000 was credited to sales account as 5,000.

On 1st April, 2016, a machinery was purchased for Rs 20,000. On 1st October, 2017 another machine was purchased for Rs 10,000 and on 1st April, 2018, one more machine was purchased for Rs 5,000. The firm depreciates its machinery "@ "10% p.a. on the Diminishing Balance Method. What is the amount of Depreciation for the years ended 31st March, 2017, 2018 and 2019? What will be the balance in Machinery Account as on 31st March, 2019?

Rectify the following errors: (i) Wages paid for the construction of office debited to Wages Account Rs. 20,000. (ii) Cartages paid for the newly purchased furniture Rs. 500, posted to Cartage Account. (iii) Rs. 5,000 for the installation of machinery debited to Wages Account. (iv) Machinery purchased for Rs. 50,000 was passed through the Purchases Book. (v) Old furniture Sold for Rs. 5,000 was passed through the Sales Book.

Pass the Journal entries rectifying the following errors: (i) Purchases of Rs. 10,000 was omitted to be recorded. (ii) Purchases of office furniture of Rs. 10,000 was recorded in Purchases Book. (iii) Office Rent of Rs. 15,000 was debited to the Personal Account of the landlord. (iv) Old machine sold for Rs. 5,000 was credited to Sales Account. (v) Bill for Rs. 800 received from Mukesh for repair of machinery was entered in the Purchases Book as Rs. 700.

Rectify the following errors: (i) Wages paid for the construction of office debited to Wages Account Rs. 5,000. (ii) Machinery purchased for Rs. 35,000 was passed through the Purchases Book. (iii) Old furniture sold for Rs. 1,000, passed through the Sales Book. Rs. 2,000 paid to Mehta Bros, against acceptance were debited to Malhotra Bros. Account. (v) Sales of Rs. 204 to Ram debited to his account as Rs. 402 and purchases of Rs. 1,012 from Shyam credited to his account as Rs. 1,210.

Rs. 10,000 received from Apoorva is credited in the account of Prachi. It is an error of

A machine is purchased for Rs 1,60,000 and it is estimated that after its estimated useful life of 4 years its scrap value would be Rs 10,000. It is decided to depreciate the machine by the Diminishing Balance Method. Find out the per cent rate of Depreciation per annum.

On 1st April, 2015, Star Ltd. purchased 5 machines for Rs 60,000 each. On 1st April, 2017, one of the machine was sold at a loss of Rs 8,000. On 1st July, 2018, second machine was sold at a loss of Rs 12,500. A new machine was purchased. for Rs 1,00,000 on 1st October, 2018. Prepare Machinery Account for 4 years, assuming accounts are closed on 31st March each year and depreciation is charged " @ " 10% per annum as per Straight Line Method.