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Byju's Answer

Standard XII

Mathematics

Types of Linear Programing Problems

A contractor'...

Question

A contractor's bill for extension of premises amounting to Rs $27, 500$ has been debited to Building Repairs Account. Which of the following rectification entry is correct?

Building A/c Dr.

27, 500

To Building Repairs A/c

27, 500

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Building A/c Dr.

27, 500

To Suspense A/c

27, 500

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Building Repairs A/c Dr.

27, 500

To Suspense A/c

27, 500

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Building Repairs A/c Dr.

27, 500

To Building A/c

27, 500

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Solution

The correct option is A Building A/c Dr. $27, 500$
To Building Repairs A/c $27, 500$
Capital expenditure need to be debited to the respective asset account. This is an error of principle i.e. capital expenditure debited to revenue expenditure.
Following rectification entry need to be passed to rectify the wrong entry:

Building A/c Dr. 27500
To Building Repairs A/c 27500

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Similar questions

Rs 1000 paid for repairs to building have been debited to Building account. Which account shall be debited while rectification?

Repairs to building Rs 300 were debited to Building account. Which of the following is correct with regards to its rectification?

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Repairs of building is debited to Building A/c. This is an ___ .

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(i) Repairs made on Building for Rs 1,00,000 were debited to Building a/c.
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A contractor's bill for extension of premises amounting to Rs27,500 has been debited to Building Repairs Account. Which of the following rectification entry is correct?

A contractor's bill for extension of premises amounting to Rs $27, 500$ has been debited to Building Repairs Account. Which of the following rectification entry is correct?