Question

Q. 12. Pass rectifying entries :
(1) 5,000 being the cost of a Radio purchased for personal use of the
proprietor has been debited to Radio account in the ledger​

Answer 1

Answer:

It's a two sided error and the rectified entry will be =>

Drawings A/C Dr. 5,000

To Radio A/C 5,000

Explanation:

When something is purchaed for the personal use of the proprietor, it is treated as drawings.

And according to rules of rectification of errors -

• Credit the wrong debit and debit the wrong credit.