Question

Pass rectifying entry
a) goods sold on credit was recorded twice rupees 1000
b) repair of building was debited to building account rupees 600
Its urgent pls answer fast
Identify the type of error of each

Answer 1

Answer:

sales ac Dr to suspense ac

repairs ac Dr to building ac

Explanation:

1 the entry is overcast so the rule for overcast entry is reversing them

2 here repairing of building is an expense but mistakely they have taken building account . credit which is wrongly debited and debit which is wrongly credited is our rule.

so according to this entry we have to credit which is wrongly debited that is building account is debited we have to credit it correctly