Question

(1)
What should be the rectifying entry for Rs. 1,950,000 spent on a family trip enjoyed by Mr. Khanna and recorded them by
debiting to Office Expenses A/c?
a) Drawings A/c Dr. 1,50,000
To Cash A/c 1,50,000
b) Drawings A/c Dr. 1,50,000
To Office Expenses A/c 1,50,000
c) Office Expenses A/c Dr. 1,50,000
To Drawings A/c 1,50,000
d) Cash A/c Dr. 1,50,000
To Office Expenses A/c 1,50,000
38 500
7000
7550
1667
8%
11383

Answer 1

Explanation:

Drawings A/c Dr. 1,50,000

To Office Expenses A/c 1,50,000