Rectification of error

What is your doubt, can you be specific

Sudha Reddy

CA Final

★ 20K+

30-Apr-20 17:54

Yes I am also not able 2 understand what is the question actuaally?

Nandini S

CA Foundation

★ 1K+

30-Apr-20 19:28

A debit balance of Rs 2500 in the account of Shyam a creditor is included in the list of sundry debtors

Thread Starter

Saloni Kumari

CA Inter

★ 180

30-Apr-20 19:41

Sundry debtors ac Dr2500 To. Sundry creditors ac2500

Ram Shete

CA Inter

★ 2K+

30-Apr-20 19:45

During the year there was a fire as a result of which stock costing Rs 50000wqs damaged.the damage were sold for Rs 20000.This is included in sale.the insurance company paid Rs 5000less towards the loss of stock .the godown containing the stock was also damaged during the fire the extent of damage being Rs 15000 which also the insurance company paid.the total amount received from company was credited to building account

Thread Starter

Saloni Kumari

CA Inter

★ 180

30-Apr-20 19:47

What are the rectification entries as per your understanding

Sudha Reddy

CA Final

★ 20K+

11-May-20 18:49

Stock Loss on stock damaged a/c Dr. 50000 Damaged To Purchases A/c 50000 Scrap sale Sale A/c Dr. 20,000 included in Sale To Loss on Stock damagedA/c 20,000 Amount received Building A/c Dr. 25,000 from insurance To Loss on Stock damaged A/c 25,000 for stock loss Loss transferred P&L A/c Dr. 5000 to P&L To Loss on stock damaged A/c 5000

Sudha Reddy

CA Final

★ 20K+

13-May-20 08:15