Accounting ProcessQuestion 5029 of 84
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Before preparation of the Trial Balance, the following errors were found in the books of Hare Rama & Sons. Give the necessary entries to correct them: 1. Minor Repairs made to the building amounting to 1,850 were debited to the Building Account. 2. An amount of ₹ 3,000 due from Shayam Lal, which had been written off as bad debts in the previous year, recovered in the current year, and had been posted to the personal Account of Shayam Lal. 3. Furniture purchased for office use amounting to 20,000 has been entered in the purchase day book. 4. Goods purchased from Ram Singh amounting to 8,000 have remained unrecorded so far. 5. College Fees of proprietor's son, 15,000 debited to the Audit fees Account. 6. Receipt of 4,500 from Meet Kumar credited to the Pinki Rani. 7. Goods amounting to ₹6,200 had been returned by a customer and were taken in to inventory, but no entry was made in the books. 8. 1500 paid for wages to workmen for making office furniture had been charged to wages account. 9. Salary paid to a clerk 12,000 has been debited to his personal Account. 10. A purchase of goods from Raghav amounting to 20,000 has been wrongly entered through the sales book. [Dec. 2022, 10 Marks]; [MTP Jan. 2025; Modified]

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Detailed Solution & Explanation

| S. No. | Particulars | Debit | Credit | |---|---|---|---| | 1 | Repairs A/c Dr.
    To Building A/ c
(Being repairs made to building wrongly debited to building A/ c, now corrected) | 1,850 | 1,850 |

About This Chapter: Accounting Process

Paper

Paper 1: Accounting

Weightage

25-30%

Key Topics

Journal, Ledger, Trial Balance, Cash Book, Rectification

This chapter covers Journal, Ledger, Trial Balance, Cash Book, Rectification and is part of Paper 1: Accounting in the CA Foundation exam.

View Official ICAI Syllabus

Exam Strategy Tip

This topic carries 25-30% weightage. Focus on understanding core concepts rather than memorizing.

Key Concepts to Understand

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