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The following errors were detected in the books of Shreay Ltd. while preparing the final accounts:
1. A Cheque received for Rs. 3,100 from Franc & Co. was dishonoured and debited to discount account
2. The sales account has been totaled short by Rs. 23,000
3. Goods of Rs. 1,200 returned by Kumar & Sons were included in stock but no entry was made in the books.
After rectifying above mistakes, net profit will
1. A Cheque received for Rs. 3,100 from Franc & Co. was dishonoured and debited to discount account
2. The sales account has been totaled short by Rs. 23,000
3. Goods of Rs. 1,200 returned by Kumar & Sons were included in stock but no entry was made in the books.
After rectifying above mistakes, net profit will
- a)Increase by Rs. 24,900
- b)Decrease by Rs. 24,900
- c)Not change
- d)Increase by Rs. 23,700
Correct answer is option 'A'. Can you explain this answer?
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The following errors were detected in the books of Shreay Ltd. while p...
Is recorded as Rs. 1,310 in the cash book.
2. Purchase of office furniture for Rs. 10,000 has been debited to office expenses account.
3. A payment of Rs. 5,000 to a supplier has been recorded as Rs. 50,000.
4. Interest received of Rs. 1,000 has been credited to the interest payable account.
5. A credit sale of Rs. 8,000 to Mr. X has been recorded as Rs. 80,000.
6. Discount allowed of Rs. 500 has been recorded as discount received.
7. Rent paid for the month of December 2019 has been recorded in the following year.
8. Depreciation has not been charged on a motor vehicle for the year.
9. A cheque issued for Rs. 2,500 has been recorded in the cash book as Rs. 5,200.
10. A dividend received of Rs. 2,000 has been credited to the dividend payable account.
These errors need to be rectified before the final accounts are prepared to ensure accurate financial statements.
2. Purchase of office furniture for Rs. 10,000 has been debited to office expenses account.
3. A payment of Rs. 5,000 to a supplier has been recorded as Rs. 50,000.
4. Interest received of Rs. 1,000 has been credited to the interest payable account.
5. A credit sale of Rs. 8,000 to Mr. X has been recorded as Rs. 80,000.
6. Discount allowed of Rs. 500 has been recorded as discount received.
7. Rent paid for the month of December 2019 has been recorded in the following year.
8. Depreciation has not been charged on a motor vehicle for the year.
9. A cheque issued for Rs. 2,500 has been recorded in the cash book as Rs. 5,200.
10. A dividend received of Rs. 2,000 has been credited to the dividend payable account.
These errors need to be rectified before the final accounts are prepared to ensure accurate financial statements.
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The following errors were detected in the books of Shreay Ltd. while p...
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The following errors were detected in the books of Shreay Ltd. while preparing the final accounts:1. A Cheque received for Rs. 3,100 from Franc & Co. was dishonoured and debited to discount account2. The sales account has been totaled short by Rs. 23,0003. Goods of Rs. 1,200 returned by Kumar & Sons were included in stock but no entry was made in the books.After rectifying above mistakes, net profit willa)Increase by Rs. 24,900b)Decrease by Rs. 24,900c)Not changed)Increase by Rs. 23,700Correct answer is option 'A'. Can you explain this answer?
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The following errors were detected in the books of Shreay Ltd. while preparing the final accounts:1. A Cheque received for Rs. 3,100 from Franc & Co. was dishonoured and debited to discount account2. The sales account has been totaled short by Rs. 23,0003. Goods of Rs. 1,200 returned by Kumar & Sons were included in stock but no entry was made in the books.After rectifying above mistakes, net profit willa)Increase by Rs. 24,900b)Decrease by Rs. 24,900c)Not changed)Increase by Rs. 23,700Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The following errors were detected in the books of Shreay Ltd. while preparing the final accounts:1. A Cheque received for Rs. 3,100 from Franc & Co. was dishonoured and debited to discount account2. The sales account has been totaled short by Rs. 23,0003. Goods of Rs. 1,200 returned by Kumar & Sons were included in stock but no entry was made in the books.After rectifying above mistakes, net profit willa)Increase by Rs. 24,900b)Decrease by Rs. 24,900c)Not changed)Increase by Rs. 23,700Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The following errors were detected in the books of Shreay Ltd. while preparing the final accounts:1. A Cheque received for Rs. 3,100 from Franc & Co. was dishonoured and debited to discount account2. The sales account has been totaled short by Rs. 23,0003. Goods of Rs. 1,200 returned by Kumar & Sons were included in stock but no entry was made in the books.After rectifying above mistakes, net profit willa)Increase by Rs. 24,900b)Decrease by Rs. 24,900c)Not changed)Increase by Rs. 23,700Correct answer is option 'A'. Can you explain this answer?.
The following errors were detected in the books of Shreay Ltd. while preparing the final accounts:1. A Cheque received for Rs. 3,100 from Franc & Co. was dishonoured and debited to discount account2. The sales account has been totaled short by Rs. 23,0003. Goods of Rs. 1,200 returned by Kumar & Sons were included in stock but no entry was made in the books.After rectifying above mistakes, net profit willa)Increase by Rs. 24,900b)Decrease by Rs. 24,900c)Not changed)Increase by Rs. 23,700Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The following errors were detected in the books of Shreay Ltd. while preparing the final accounts:1. A Cheque received for Rs. 3,100 from Franc & Co. was dishonoured and debited to discount account2. The sales account has been totaled short by Rs. 23,0003. Goods of Rs. 1,200 returned by Kumar & Sons were included in stock but no entry was made in the books.After rectifying above mistakes, net profit willa)Increase by Rs. 24,900b)Decrease by Rs. 24,900c)Not changed)Increase by Rs. 23,700Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The following errors were detected in the books of Shreay Ltd. while preparing the final accounts:1. A Cheque received for Rs. 3,100 from Franc & Co. was dishonoured and debited to discount account2. The sales account has been totaled short by Rs. 23,0003. Goods of Rs. 1,200 returned by Kumar & Sons were included in stock but no entry was made in the books.After rectifying above mistakes, net profit willa)Increase by Rs. 24,900b)Decrease by Rs. 24,900c)Not changed)Increase by Rs. 23,700Correct answer is option 'A'. Can you explain this answer?.
Solutions for The following errors were detected in the books of Shreay Ltd. while preparing the final accounts:1. A Cheque received for Rs. 3,100 from Franc & Co. was dishonoured and debited to discount account2. The sales account has been totaled short by Rs. 23,0003. Goods of Rs. 1,200 returned by Kumar & Sons were included in stock but no entry was made in the books.After rectifying above mistakes, net profit willa)Increase by Rs. 24,900b)Decrease by Rs. 24,900c)Not changed)Increase by Rs. 23,700Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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Here you can find the meaning of The following errors were detected in the books of Shreay Ltd. while preparing the final accounts:1. A Cheque received for Rs. 3,100 from Franc & Co. was dishonoured and debited to discount account2. The sales account has been totaled short by Rs. 23,0003. Goods of Rs. 1,200 returned by Kumar & Sons were included in stock but no entry was made in the books.After rectifying above mistakes, net profit willa)Increase by Rs. 24,900b)Decrease by Rs. 24,900c)Not changed)Increase by Rs. 23,700Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
The following errors were detected in the books of Shreay Ltd. while preparing the final accounts:1. A Cheque received for Rs. 3,100 from Franc & Co. was dishonoured and debited to discount account2. The sales account has been totaled short by Rs. 23,0003. Goods of Rs. 1,200 returned by Kumar & Sons were included in stock but no entry was made in the books.After rectifying above mistakes, net profit willa)Increase by Rs. 24,900b)Decrease by Rs. 24,900c)Not changed)Increase by Rs. 23,700Correct answer is option 'A'. Can you explain this answer?, a detailed solution for The following errors were detected in the books of Shreay Ltd. while preparing the final accounts:1. A Cheque received for Rs. 3,100 from Franc & Co. was dishonoured and debited to discount account2. The sales account has been totaled short by Rs. 23,0003. Goods of Rs. 1,200 returned by Kumar & Sons were included in stock but no entry was made in the books.After rectifying above mistakes, net profit willa)Increase by Rs. 24,900b)Decrease by Rs. 24,900c)Not changed)Increase by Rs. 23,700Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of The following errors were detected in the books of Shreay Ltd. while preparing the final accounts:1. A Cheque received for Rs. 3,100 from Franc & Co. was dishonoured and debited to discount account2. The sales account has been totaled short by Rs. 23,0003. Goods of Rs. 1,200 returned by Kumar & Sons were included in stock but no entry was made in the books.After rectifying above mistakes, net profit willa)Increase by Rs. 24,900b)Decrease by Rs. 24,900c)Not changed)Increase by Rs. 23,700Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice The following errors were detected in the books of Shreay Ltd. while preparing the final accounts:1. A Cheque received for Rs. 3,100 from Franc & Co. was dishonoured and debited to discount account2. The sales account has been totaled short by Rs. 23,0003. Goods of Rs. 1,200 returned by Kumar & Sons were included in stock but no entry was made in the books.After rectifying above mistakes, net profit willa)Increase by Rs. 24,900b)Decrease by Rs. 24,900c)Not changed)Increase by Rs. 23,700Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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