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Standard XI

Accountancy

Rectification for Error of Commission

The Company i...

Question

The Company incorrectly recorded a deposit of daily credit sales of Rs. 4,500 as Rs. 5,400. What is the appropriate entry, the company should follow regarding the error of Rs. 900?

Add Rs 900 to its cash account

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Sales (Dr) & Debtors (Cr) by Rs 900 each

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Sales (Cr) & Debtors (Dr) by Rs 900 each

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None of the above

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Solution

The correct option is B
Sales (Dr) & Debtors (Cr) by Rs 900 each

To rectify the error, Sales account shall be debited & Debtors account shall be credited to reduce the balances by Rs 900 each.

Suggest Corrections

Similar questions

Rectify the following errors.

(a) Credit sales to Mohan Rs. 7,000 were recorded as Rs. 700.

(b) Credit purchase from Rohan Rs. 9,000 were recorded as Rs. 900.

(d) Goods returned from Mahesh Rs. 1,000 were recorded as Rs. 100.

Rectify the following errors:

(i)	Credit sales to Mohan Rs 7,000 were recorded as Rs 700.
(ii)	Credit purchases from Rohan Rs 9,000 were recorded. as Rs 900.
(iii)	Goods returned to Rakesh Rs 4,000 were recorded as Rs 400.
(iv)	Goods returned from Mahesh Rs 1,000 were recorded as Rs 100.

Pass the necessary journal entries to rectify the following errors

(i) Credit sale of Rs. 1,700 to Raj was recorded as sales to Aryan.

(ii) Credit sale of old machinery to Sohan for Rs. 1,700 was entered in the sales book for Rs. 7,100.

(iii) Credit sales to Mohan Rs. 7,000 were not recorded.

(iv) Credit purchase from Rohan Rs. 9,000 were not recorded.

(v) Goods returned to Rakesh Rs. 4,000 were not recorded.

(vi) Goods returned from Mahesh Rs. 1,000 were not recorded.

Rectify the following errors.

(i) Credit sales to Mohan Rs. 7,000 were recorded as Rs. 7,200.

(ii) Credit purchase from Rohan Rs. 9,000 were recorded as Rs. 9,900.

(iii) Goods returned to Rakesh Rs. 4,000 were recorded as Rs. 4,040.

(iv) Goods returned from Mahesh Rs. 1,000 were recorded as Rs. 1,600.

(v) Cash sale of Rs. 3,400 to Aroha was posted to the credit of Aroha.

(vi) Credit sale of old furniture to X for Rs. 3,400 was credited to the sales account.

(vii) Credit sale of old furniture to Vishal for Rs. 1,700 was posted as Rs. 7,100.

Rectify the following errors

(i) Credit sales to Mohan Rs. 7,000 were recorded as Rs. 700.

(ii) Credit purchase from Rohan Rs. 9,000 were recorded as Rs. 900.

(iii) Goods returned to Rakesh Rs. 4,000 were recorded as Rs. 400.

(iv) Goods returned from Mahesh Rs. 1,000 were recorded as Rs. 100.

(v) Furniture purchased on credit from kartik for Rs. 60,000 posted as Rs. 6,000.

(vi) Furniture purchased on credit from Kartik for Rs. 60,000. posted to Jatin's account.

(vii) Furniture purchased on credit from Kartik for Rs. 60,000 posted to machinery account.

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The Company incorrectly recorded a deposit of daily credit sales of Rs. 4,500 as Rs. 5,400. What is the appropriate entry, the company should follow regarding the error of Rs. 900?

The correct option is B Sales (Dr) & Debtors (Cr) by Rs 900 each To rectify the error, Sales account shall be debited & Debtors account shall be credited to reduce the balances by Rs 900 each.

The correct option is B
Sales (Dr) & Debtors (Cr) by Rs 900 each

To rectify the error, Sales account shall be debited & Debtors account shall be credited to reduce the balances by Rs 900 each.