Question

Credit purchase of Rs. 1000 from Tina was passed through sales book. Pass rectifying entry​

Answer 1

Answer:

Rectified Entry :

Purchase a/c Dr. 1000

Sales a/c. 1000

To Tina a/c. 1000

Explanation:

Wrong Entry :

Tina a/c Dr. 1000

To Sales a/c. 1000

Correct Entry :

Purchase a/c Dr 1000

To sales a/c. 1000

Then, Rectified Entry :

Purchase a/c Dr

Sales a/c Dr

To Tina a/c

Accounting Errors :

There are 2 types of errors that are classified on basis of nature, Errors of Clerical nature and Errors of Principle.

Errors of Clerical nature are further classified into Errors of Commission, Errors of Omission, Compensating Errors.