On scrutiny of the books of account- accountant found that- purchase return of Rs 1000 was omitted to be entered in the books of a-c- What shall be the rectifying entry for the same error-A- Sales Account Dr - Creditors account Cr with Rs 1000B- Party Account Dr - Sales account credit with Rs 1000C- Sundry Creditors A-c Dr- - Purchase Returns A-c Cr with Rs 1000D- Sundry Creditors A-c Dr- - Sales Returns A-c Cr with Rs 1000

The correct option is C Sundry Creditors A/c Dr. amp; Purchase Returns A/c Cr with Rs 1000 The correct entry to record the same is: Sundry Creditors A/c Dr. ...

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Byju's Answer

Standard XI

Accountancy

Banking Transactions

On scrutiny o...

Question

On scrutiny of the books of account, accountant found that, purchase return of Rs 1000 was omitted to be entered in the books of a/c. What shall be the rectifying entry for the same error.

Sales Account Dr & Creditors account Cr with Rs 1000

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Party Account Dr & Sales account credit with Rs 1000

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Sundry Creditors A/c Dr. & Purchase Returns A/c Cr with Rs 1000

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Sundry Creditors A/c Dr. & Sales Returns A/c Cr with Rs 1000

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Solution

The correct option is C
Sundry Creditors A/c Dr. & Purchase Returns A/c Cr with Rs 1000

The correct entry to record the same is:
Sundry Creditors A/c Dr. 1000

To Purchase Returns A/c 1000

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Similar questions

Rectify the following errors assuming that suspense account was opened. Ascertain the difference in trial balance.

(a) Credit sales to Mohan Rs. 7000 were recorded in purchase book. However, Mohan's account was correctly debited.

(b) Credit purchase from Rohan Rs. 9000 were recorded in the sales book. However, Rohan's account was correctly credited.

(c) Goods returned to Rakesh Rs. 4000 were recorded in sales return book. However, Rakesh's account was correctly debited.

(d) Goods returned from Mahesh Rs. 1000 were recorded through purchase return book. However, Mahesh's account was correctly credited.

(e) Goods returned to Naresh Rs. 2000 were recorded through purchase book. However, Naresh's account was correctly debited.

Rectify the following errors assuming that suspense account was opened.

Ascertain the difference in trial balance.

(a)	Credit sales to Mohan Rs 7,000 were recorded in Purchase Book. However, Mohan’s account was correctly debited.
(b)	Credit purchases from Rohan Rs 9,000 were recorded in sales book. However, Rohan’s account was correctly credited.
(c)	Goods returned to Rakesh Rs 4,000 were recorded in sales return book. However, Rakesh’s account was correctly debited.
(d)	Goods returned from Mahesh Rs 1,000 were recorded through purchases return book. However, Mahesh’s account was correctly credited.
(e)	Goods returned to Naresh Rs 2,000 were recorded through purchases book. However, Naresh’s account was correctly debited.

Q. Rectify the following errors found in the books of Mr. Suhail by passing entries:
(i) One item of purchase of ₹ 250 has been posted from the purchases book to the ledger as ₹ 350.
(ii) Sales return of ₹ 2,000 from a party has not been posted to that account, through the party's account has been credited.
(iii) A cheque of ₹ 600 issued to the suppliers account (shown under Sundry Creditors) toward his dues had been wrongly debited to the purchases account.
(iv) Credit sale of ₹ 1,000 has been credited to the sales and also to the Sundry Debtor's Account.

Q. Following data appears in the books of XY & Co. as on

31.03.2003

.
Capital account =

R s 13, 00, 000

Drawings account =

R s 12, 000

Land & building account =

R s 10, 00, 000

Goodwill account =

R s 3, 50, 000

Suspense account(Dr) =

R s 50, 000

Loss by theft account =

R s 20, 000

Business loss =

R s 50, 000

Loan given to AB & Co =

R s 60, 000

What will be the amount of sundry creditors?

Trial balance of Anuj did not agree. It showed an excess credit of Rs 6,000.

He put the difference to suspense account. He discovered the following erro Rs

(a)	Cash received from Ravish Rs 8,000 posted to his account as Rs 6,000.
(b)	Returns inwards book overcast by Rs 1,000.
(c)	Total of sales book Rs 10,000 was not posted to Sales account.
(d)	Credit purchases from Nanak Rs 7,000 were recorded in sales Book. However, Nanak’s account was correctly credited.
(e)	Machinery purchased for Rs 10,000 was posted to purchases account as Rs 5,000. Rectify the errors and prepare suspense account.

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On scrutiny of the books of account, accountant found that, purchase return of Rs 1000 was omitted to be entered in the books of a/c. What shall be the rectifying entry for the same error.

The correct option is C Sundry Creditors A/c Dr. & Purchase Returns A/c Cr with Rs 1000 The correct entry to record the same is: Sundry Creditors A/c Dr. 1000 To Purchase Returns A/c 1000

The correct option is C
Sundry Creditors A/c Dr. & Purchase Returns A/c Cr with Rs 1000

The correct entry to record the same is:
Sundry Creditors A/c Dr. 1000

To Purchase Returns A/c 1000