Rectification of errors

Accountancy

An amount of rs 300 is spent on the repairs of machinery is wrongly debited to the machinery account Account Rectify the above entry I feel the question is somewhere wrong please explain me

Divinne Fiona

CA Inter

★ 9K+

14-Oct-23 13:59

522

Answers (4)

Repairs on machinery a.c dr. To machinery a.c P&l a.c dr. To repairs on machinery a.c

Krishnan K

CA Inter

★ 5K+

14-Oct-23 14:41

How ? Can you explain me please

Thread Starter

Divinne Fiona

CA Inter

★ 9K+

14-Oct-23 20:59

Thread Starter

Divinne Fiona

How ? Can you explain me please

Earlier they wrongly debited 300 to machinery a.c So To cancel that we credited machinery a.c by 300. Since repairs is revenue expenditure in nature it has to be debited to p&l

Krishnan K

CA Inter

★ 5K+

14-Oct-23 21:29

Thankyou so much bro 👍

Thread Starter

Divinne Fiona

CA Inter

★ 9K+

15-Oct-23 19:19