Question

tions of accounting
Purchased a machinery for ? 2,00,000 but debited to purchase account. Pass a
rectification entry by writing the type of error.​

Answer 1

Answer:

Rectifying entry

Machinery. account. dr. 200000

To Purchase account. 200000

This is error of principle because we show capital expenditure as revenue expenditure in books

Answer 2

$\huge\underline\mathfrak{AnSwer :-}$

The the translation is the case of rectification rectification of errors of principal. It is the to sided of errors which affect two or more account.

Types of error that effect two or more account :-

1. Error of recording
2. Error of posting to wrong account
3. Error of Principle
4. Error of complete omission

Wrong entry

• Purchase A/c Dr. 200000
• To Cash A/c. 200000

Correct entry

• Machinery A/c Dr. 200000
• To Purchase A/c Dr. 200000

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Hope it's helpful :)