goods purchases of Rs.1200 was recorded in the sales book
and the Vendor's account was credited by Rs. 1200

Answer Posted / 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



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What are the difference between Debit Memorandum and Credit Memorandum?

1511


Fundamental accounting assumptions are (a) Materiality. (b) Business entity. (c) Going concern. (d) Dual aspect

1430


In which ways is math used in accounting

595


How do you maintain accounting accuracy?

688


What is your role in planning?

650






Can a company deduct TDS & provide TDS certificate for a bill without actually making payment towards the same??

1525


I m entering much more than 500-700 sales vouchers per month. But I m getting a problem while entering sale voucher is that If I have entered a sale voucher in the middle of a date then the voucher no is being changed. So how can enter a sale voucher in the middle of a date so that i can adjust the voucher nos from changing.

952


what's the mean by Imprest system? Please give me Replay on this no. 9885789716

1468


What is the difference between perpetual & periodic inventory system?

561


dear sir,how to maintain petty cash book. its voucher and posting on cash book and ledger A/c?

1018


How new/innavtive assets are to be treated under IFRS?

1444


if no production is take place at the start of a process in royalty accounting what will be the accounting procedure for that.

1522


Tell me the types of accounts involved in double entry book-keeping?

621


what is payment written

1553


What is the purpose of financial statements?

616