Answer:
1. Dr Ram Account 540
Cr Suspense Account 540
2. Dr Shyam Account 63
Cr Purchase Account 63
3. Dr Suspense Account 200
Cr Sales Account 200
4. Dr Purchase Account 900
Cr Suspense Account 900
5. Dr Returns Inward Account 100
Cr Suspense Account 100
Explanation:
Preparation of the Journal entries to rectify the following errors:
(i) Credit sale to Ram 170 credited to his account as 710.
Dr Ram Account 540
Cr Suspense Account 540
(710-160)
(Being to record the credit sale to Ram 170 credited to his account as 710 now rectified)
(ii) Credit purchase from Shyam 229 recorded as 292.
Dr Shyam Account 63
Cr Purchase Account 63
(292-229)
(Being to record Credit purchase from Shyam 229 recorded as 292 now rectified)
(iii) Sales Book was undercast by 200
Dr Suspense Account 200
Cr Sales Account 200
(Being to record Sales Book undercast by 200 now rectified)
(iv) A credit purchase of goods of 2,100 from Sohan posted as 1,200.
Dr Purchase Account 900
Cr Suspense Account 900
(2,100-1,200)
(Being to record credit purchase of goods of 2,100 from Sohan posted as 1,200 now rectified)
(V) Returns Inward Day Book had been cast 100 short.
Dr Returns Inward Account 100
Cr Suspense Account 100
(Being to record Returns Inward Day Book that had been cast 100 short now rectified)
