Rectify

Purchase of furniture on credit from Nigam for 3000 posted to Shubham as 300

Aman Mahajan

CA Inter

★ 18K+

08-Dec-20 15:55

Answers (8)

Best Answer

Wrong entry- furniture a/c dr. 300 To subham a/c 300 Right entry- Furniture a/c dr. 3000 To niham a/c 3000 Rectified entry- Furniture a/c dr. 2700 Subham a/c dr. 300 To nigham 3000

aishwariya P

CA Inter

★ 180

08-Dec-20 23:28

Furniture a/c dr. 2700 Subham a/c dr. 300 To niham a/c 3000

aishwariya P

CA Inter

★ 180

08-Dec-20 17:37

Furniture a/c dr. 2700 Subham a/c dr. 300 To niham a/c 3000

Shouldn't suspense account be debited instead of Furniture account as the error has only been in shubham and night's account?

Aman Mahajan

CA Inter

★ 18K+

08-Dec-20 20:33

I also think the same suspense ac should be debited

Ram Shete

CA Inter

★ 2K+

08-Dec-20 21:04

Shouldn't suspense account be debited instead of Furniture account as the error has only been in shubham and night's account?

Only â?¹300 is debited to Furniture A/C initially so we've to debit â?¹2,700 to get the correct debit amount of â?¹3,000.

Veeresh Kumar Poliki

CA Inter

★ 4K+

08-Dec-20 21:21

Only â?¹300 is debited to Furniture A/C initially so we've to debit â?¹2,700 to get the correct debit amount of â?¹3,000.

Isn't the posting wrong only in Shubham's account. Nothing is said about error in furniture account. Thoughts?

Aman Mahajan

CA Inter

★ 18K+

08-Dec-20 23:10

Isn't the posting wrong only in Shubham's account. Nothing is said about error in furniture account. Thoughts?

They also didn't said error only in subham a/c ri8?

aishwariya P

CA Inter

★ 180

08-Dec-20 23:16

Wrong entry- furniture a/c dr. 300 To subham a/c 300 Right entry- Furniture a/c dr. 3000 To niham a/c 3000 Rectified entry- Furniture a/c dr. 2700 Subham a/c dr. 300 To nigham 3000

Correct