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


Aman Mahajan

Aman Mahajan

CA Inter

18K+

08-Dec-20 15:55

20

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


Keerthi  P

Keerthi P

CA Inter

90

08-Dec-20 23:28

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


Keerthi  P

Keerthi P

CA Inter

90

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

Aman Mahajan

CA Inter

18K+

08-Dec-20 20:33

I also think the same suspense ac should be debited


Ram Shete

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

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

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?


Keerthi  P

Keerthi P

CA Inter

90

08-Dec-20 23:16