Pass the rectification entries for the following transactions: (i) Repairs to plant amounting to
Channel: Doubtnut
Date: 29/03/2020

Pass the rectification entries for the following transactions: (i) Repairs to plant amounting to Rs. 2,000 had been charged to Plant and Machinery Account. (ii) Wages paid to the firm\'s workmen for making certain additions to machinery amounting to Rs. 1,340 were debited to Wages Account. (iii) A cheque for Rs. 7,500 received from Sandesh was credited to the account of Ramesh. (iv) Goods to the value of Rs. 7,000 returned by Prateek were included in closing stock, but no entry was made in the books. (v) Goods costing Rs. 5,000 were purchased for various members of the staff and the cost was included in \'Purchases\'. A similar amount was deducted from the salaries of the staff members concerned and the net payments to them debited to Salaries Account. (vi) Credit purchase of old machinery from Sohan for Rs. 1,70,000 was entered in the Purchase Book as purchase from Mohan for Rs. 7,10,000. Rs. 30,000 paid as repairing charges on the reconditioning of a newly purchased second had machinery were debited to General Expenses Account. (vii) Debit and Credit totals of discount columns in the Cash Book which come to Rs. 400 and Rs. 370 respectively have not been posted to Discount Accounts. [Hints: (v) Dr. Salaries by Rs. 7,10,000, Machinery A/c by Rs. 5,000. (vi) Dr. Mohan by Rs. 7,10,000, Machinery A/c by Rs. 2,00,000, Cr. Sohan by Rs. 1,70,000, Purchase A/c by Rs. 7,10,000, and General Expenses A/c by Rs. 30,000. (vii) (a) Dr. Discount Allowed A/c and Cr. Suspense A/c by Rs. 400. (b) Dr. Suspense A/c and Cr. Discount Received A/c by Rs. 370.]