Question five: Rectify the following errors: 1. Other income received of Tshs880,000 was correctly recorded in the cash book, but was debited to the other income account. 2. Cash paid for wages of Tshs9.6 million was posted to the wages account as Tshs6.9 million. 3. The purchases day book was overcast by Tshs2 million. 4. The sales day book was undercast by Tshs6 million. 5. The cash book credit side was undercast by Tshsl.3 million. 6. The prepaid expense account debit side was undercast by Tshs0.6 million. 7. A sale of Tshsl.5 million was fully credited to the sales account. However, sales tax of Tshs0.5 million was included in it. 8. A building purchased for Tshs60 million was entered in the building account as Tshs50 million. The company charges 2% depreciation. 9. Repairs to machinery of Tshs5 million were capitalised and a depreciation of 5% was charged on it.
Question five: Rectify the following errors: 1. Other income received of Tshs880,000 was correctly recorded in the cash book, but was debited to the other income account. 2. Cash paid for wages of Tshs9.6 million was posted to the wages account as Tshs6.9 million. 3. The purchases day book was overcast by Tshs2 million. 4. The sales day book was undercast by Tshs6 million. 5. The cash book credit side was undercast by Tshsl.3 million. 6. The prepaid expense account debit side was undercast by Tshs0.6 million. 7. A sale of Tshsl.5 million was fully credited to the sales account. However, sales tax of Tshs0.5 million was included in it. 8. A building purchased for Tshs60 million was entered in the building account as Tshs50 million. The company charges 2% depreciation. 9. Repairs to machinery of Tshs5 million were capitalised and a depreciation of 5% was charged on it.
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter2: Analyzing Transactions
Section: Chapter Questions
Problem 5PB: Tech Support Services has the following unadjusted trial balance as of January 31, 2019: The debit...
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