Year 10 - Accounting - 18-11-14

Thai Sikh International School

E-Learning Programme – Online Assignment –   18/11/2014

Name :                                                                                                      Subject :Accounting 

Year   :  10A/B                                                                                         Schedule No. :  5                               

1. Rectify the following journal entries.

  1.   Purchase Account is undercast by $ 6000

  2.   Purchase returns account is undercast by $ 700

  3.   Sales account is overcast by $ 60

  4.   Sales returns account is overcast by $ 800

  5.    No entry had been made for office expenses, $ 70 paid in cash

  6.   Credit purchases, $ 2520 to David  had been correctly entered in the purchases account but credited  as $720 in David's account.

  7.   Capital introduced by Meena,  $ 3000 (paid in to the bank), has been debited to the capital account and credited to the bank account.

  8.    A cheque $ 300 received from a debtor, Vinay has been correctly entered in the bank account, but no other entry has been made.

  9.   Sales returns , $300 have been correctly entered in the debtor's account but have been credited to the purchase returns account.