The following errors are in the books of Mr. Hilal at end March 2017. The error...

 

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The following errors are in the books of Mr. Hilal at end March 2017. The error committed is provided. Discuss the following for each of the below errors: a) The type of error committed; and b) Rectification Process (in words) and c) Rectify the error (entry) Transactions: i. Goods sold for RO 500 for cash is posted incorrectly. Accounts Sale ii. Credit sales to Ms. Rahima RO 2,060 is debited wrongly to the account of Mr. Rahman Accounts Dr. Cr. A/R-Rahman 2,060 Sales 2,060 Dr. Cr. 500 Cash 500. iii. Credit Purchase from Mr. Ali for RO 20,000 is credited to the account of Mr. Ahmed. Purchases Accounts Purchases A/P- Ahmed Cash Dr. Cr. iiii. Buildings purchased from Ms. Fatima RO 1,080 is entered in the purchases book Accounts 20,000 Dr. Cr. A/P- Fatima 1,080 1,080 20,000 v. Cash Sales of RO 2,080 entered as RO 2,800 Accounts Dr. Cr. 2,800 Sales 2,800 The following errors are in the books of Mr. Hilal at end March 2017. The error committed is provided. Discuss the following for each of the below errors: a) The type of error committed; and b) Rectification Process (in words) and c) Rectify the error (entry) Transactions: i. Goods sold for RO 500 for cash is posted incorrectly. Accounts Sale ii. Credit sales to Ms. Rahima RO 2,060 is debited wrongly to the account of Mr. Rahman Accounts Dr. Cr. A/R-Rahman 2,060 Sales 2,060 Dr. Cr. 500 Cash 500. iii. Credit Purchase from Mr. Ali for RO 20,000 is credited to the account of Mr. Ahmed. Purchases Accounts Purchases A/P- Ahmed Cash Dr. Cr. iiii. Buildings purchased from Ms. Fatima RO 1,080 is entered in the purchases book Accounts 20,000 Dr. Cr. A/P- Fatima 1,080 1,080 20,000 v. Cash Sales of RO 2,080 entered as RO 2,800 Accounts Dr. Cr. 2,800 Sales 2,800

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