11. Rectify the following errors :-
1. $4,500 spent on the extension of Buildings were debited to Repairs A/c.
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Answered by
4
Building A/c Dr. 4,500
To Repairs A/c 4,500
pnkjchaudhary15:
Amount spent on repairs to buildings should be treated as capital expenditure and must be debited to the Buildings account. This is an error of principle. These errors do not affect the trial balance.
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Answered by
5
Answer:
Building a/c dr. 4500
To Repairs a/c 4500
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