Interested to Buy Any Domain ? << Click Here >> for more details...
goods purchases of Rs.1200 was recorded in the sales book
and the Vendor's account was credited by Rs. 1200
- 5 Answers
- 8217 Views
- I also Faced
- E-Mail Answers
Answer Posted / suman.g
Wrong entry passed
Purchases A/c Dr. 2400
To Vendor's A/c 1200
To Sales A/c 1200
Correct Entry which should have been passed
Purchases A/c Dr. 1200
To Vendor's A/c 1200
Rectification entry
Sales A/c Dr. 1200
To Purchases A/c 1200
| Is This Answer Correct ? | 1 Yes | 3 No |
Post New Answer View All Answers
What are the objects of cost accountancy?
How the Depreciation will calculate in Company?
what is the due date of 28th feb
What Is Responsibility Accounting?
in our co we are sales of good to branch in order sales+fright, branch made jv entry in own book as full amount debit and credit. now our book show sales without freight but branch shows including freight that why differences is arise due to wrong entry passes pls clarify this entry and this entry is done last year book now balance is finalize.
how to pass this entry in tally? Dear Sir, I have just started learning tally . I am practicing tally. and I am following 11th Std book for practicing. Please help me with the following entry. I know dr and cr part but having problem in grouping. Please Help. Introduced goods of Rs 10,000, cash Rs 15,000, furniture Rs 5000, debtors of Rs 1000 and commenced business. What will be the entry and group for each ledger. Please Help.
What does the investment of personal assets by the owner will do?
What is use of subject history in banking?
if at the end of the year cash book is showing debit balance whether it is meant that cash is not deposited after deducting expenses in bank and it is in hand and we should deposit in next year
What knowledge should financial accountant have?
Spinoff,Spelloff
How is the accounting for lease transactions done?
Let me know the liability positions of Partners
What is the master account?
What are the uses of journal in accounting?
