A Cheque of Rs. 20,000 is received from Gitika and the same is endorsed to Zubeda. How it will b...

Pass Journal entries rectifying the following errors: (i) A cheque for Rs. 10,000 was received from Ranjan on which Rs. 200 Cash Discount was allowed. The cheque was not honoured on due date and the amount of discount was credited to Discount Received Account. (ii) Rs. 2,000 paid as wages for machinery installation was debited to Wages Account. (iii) Rs. 5,000 received from Rakesh were credited to his Personal Account. The amount had been written off as had debts earlier. (iv) Repair bill of machinery was recorded as Rs. 100 against the bill amount of Rs, 1,000.

Dilip, proprietor of Ultra Sales. Had written off rs 20,000 receivable from Jatin as bad debts, he was unable to pay. In the current year. Dilip received rs 5,000 from Jatin. Pass Journal entry and show how it will be shown in the profit and Loss account.

Prepare Bank Reconcipliation Statement from the following particularss and show balance as pe Cash Book (i) Balance as per Paas Book on 31st March, 2019 overdrawn Rs. 10,000 (ii) Cheques drawn in the last week of March, 2019 but not cleared till 3rd April, 2019 Rs. 20,000 (iii) Interest on bank overdraft not entered in the Cash Book Rs. 1,500 (iv) Cheques of Rs. 20,000 deposited in the bank is March, 2019 but not collected and credited till 3rd April 2019 (v) Rs. 100 Insurance Premium paid by the bank under a standing has bot been entered in the Cash Book (vi) A draft of Rs. 10,000 favouring Atul & Co. was issued by the bank charging commission or Rs. 200. However, in the Cash Book entry was passed by Rs. 10,000

Record the following transactions in a Journal : (i) Withdrawn goods conting Rs. 5,000 for personal use. (ii) Goods costing Rs. 500 given as charity. (iii) A cheque for Rs. 5,000 received from Rajib was deposited into bank, returned dishonoured.