Furniture purchased for Rs 10000 was wrongly entered as Rs 100,000. Which account shall be credited to rectify this mistake?

Furniture Account

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Cash Account

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Bank Account

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None of the above

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Solution

The correct option is A
Furniture Account

There is a more balance in furniture account by Rs 90,000 which shall be rectified by crediting it.

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Furniture purchased for Rs 10000 was wrongly entered as Rs 100,000. Which account shall be credited to rectify this mistake?

The correct option is A Furniture Account There is a more balance in furniture account by Rs 90,000 which shall be rectified by crediting it.

The correct option is A
Furniture Account

There is a more balance in furniture account by Rs 90,000 which shall be rectified by crediting it.