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Question
If a purchase return of Rs.100 has been wrongly posted to the debit of the sales return account, but had been correctly entered in the suppliers account, the total of the trial balance would show the ____________.
If a purchase return of Rs.100 has been wrongly posted to the debit of the sales return account, but had been correctly entered in the suppliers account, the total of the trial balance would show the ____________.
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Solution
The correct option is D Debit Side to be Rs.200 more than credit side
For the purchase return of Rs.100, purchase return account should be credited. Instead of the credit to purchase return an amount of Rs.100 is debited to sales return. This will make the effect double i.e of Rs.200. In such situation, trial balance debit side will be more by Rs.200 than credit side.
For the purchase return of Rs.100, purchase return account should be credited. Instead of the credit to purchase return an amount of Rs.100 is debited to sales return. This will make the effect double i.e of Rs.200. In such situation, trial balance debit side will be more by Rs.200 than credit side.
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