Question

Rectify the following errors.

I. Furniture purchased for ₹ 10,000 wrongly debited to Purchase account

II. ₹ 3000 paid to Mohan for salary was debited to his personal account.​

Answer 1

Answer:

1) correct entry

furniture A/c......Dr 10000

to cash 10000

2)wrong entry

purchases A/c.....Dr 10000

to cash 10000

3)rectification

furniture A/c......Dr 10000

to purchase 10000

as u can see that cash is on right place. so we need to reverse the effect of furniture and put the furniture on right place.

2)

correct entry

1) salaries a/c.....Dr 3000

to cash 3000

wrong entry

2) mohan a/c ....Dr .3000

to cash 3000

rectification

3) salaries a/c....Dr. 3000

to mohan