Give the journal entries needed to record the corrections of the following. Narratives are not required. (a)
Question:
Give the journal entries needed to record the corrections of the following. Narratives are not required.
(a) Extra capital of £5,000 paid into the bank had been credited to Sales account.
(b) Goods taken for own use £72 had been debited to Sundry Expenses.
(c) Private rent £191 had been debited to the Rent account.
(d) A purchase of goods from D Pine £246 had been entered in the books as £426.
(e) Cash banked £410 had been credited to the bank column and debited to the cash column in the cash book.
(f ) Cash drawings of £120 had been credited to the bank column of the cash book.
(g) Returns inwards £195 from G Will had been entered in error in T Young’s account.
(h) A sale of a printer for £100 had been credited to Office Expenses.
Step by Step Answer:
Frank Woods Business Accounting Volume 1
ISBN: 9780273681496
10th Edition
Authors: Frank Wood, Alan Sangster