goods purchases of Rs.1200 was recorded in the sales book
and the Vendor's account was credited by Rs. 1200
Answers were Sorted based on User's Feedback
Answer / sekhar
Wrong entry:
Sales A/c Dr. 1200
Vendor A/c Cr. 1200
Rectification Entry:
Purchase A/c Dr. 1200
Sales A/c Cr. 1200
Is This Answer Correct ? | 11 Yes | 2 No |
Answer / h.r. sreepada bhagi
Rectification entry passed by Sekhar is correct - Amount
wrongly debited to Sales account is transferred to Purchase A/c
Is This Answer Correct ? | 3 Yes | 1 No |
Answer / subha
purchases a/c dr 1200
sales a/c dr 1200
to suspence ac 2400
Is This Answer Correct ? | 5 Yes | 5 No |
Answer / suman.g
Wrong entry passed
Purchases A/c Dr. 2400
To Vendor's A/c 1200
To Sales A/c 1200
Correct Entry which should have been passed
Purchases A/c Dr. 1200
To Vendor's A/c 1200
Rectification entry
Sales A/c Dr. 1200
To Purchases A/c 1200
Is This Answer Correct ? | 1 Yes | 3 No |
Answer / deepak singh
purchase a/c 1200
vender a/c cr. 1200 (it wrong do entry)
.......................................
now right is
vender a/c dr. 2400
to purchase a/c cr. 2400
(if entry was wrong then doing write entry (1200+1200)
.........
thanks..
Is This Answer Correct ? | 1 Yes | 10 No |
exchanged old furniture for new,the value of old furniture was rs 350 while the vaue of new furniture was rs 900 balance paid in cash what will be the journal entry according to you
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