Wages paid for installation of machinery Rs 7000 was debited to Installation expense account. The rectifying entry to correct the same shall be?

Debit installation account & credit Machinery account by Rs 7000

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Credit installation account & Debit Machinery account by Rs 7000

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Credit installation account & Debit Wages account by Rs 7000

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None of the above

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Solution

The correct option is B
Credit installation account & Debit Machinery account by Rs 7000

Rectification entry shall be;
Machinery A/C Dr Rs 7,000
To Installation Expense a/c Rs 7,000

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Similar questions

Following transactions have occurred. Find the total expenditure to be carried to Repair expenditure.

`- Rs 500 paid for installation of machinery was debited to wages account

`- Rs 5000 paid for extension of building was debited to repairs account

`- Rs 2000 paid for repair of an existing machine was debited to machinery account

Rectify the following errors:-

1) Purchase of Building was passed through purchases Book as Rs 65,000.
2) Wages paid for construction of building Rs 15,000 was wrongly debited to wages account.
3) Expense of installation of Machinery was debited to installation charges account Rs 55,000.
4) Brokerage paid Rs 600 for purchase of investment were debited to brokerage account.
5) Old Motor car purchased was debited to repairs account Rs 7,000.
6) Materials purchased for construction of Building was debited to purchases account Rs 9,000.

Q. Wages paid for installation of machinery Rs

2, 750

had been debited to wages account as Rs

5, 250

. If this error located after preparation of final account then which of the following rectification entry is correct?

Q. Rs.10,000 Paid in cash for installation of a new machine were debited to Installation Expenses Account While Passing a rectifying entry :

Q. Installation charges incurred on machinery is debited to installation expense account. To rectify the same, account is credited.

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Wages paid for installation of machinery Rs 7000 was debited to Installation expense account. The rectifying entry to correct the same shall be?

The correct option is B Credit installation account & Debit Machinery account by Rs 7000 Rectification entry shall be; Machinery A/C Dr Rs 7,000 To Installation Expense a/c Rs 7,000

The correct option is B
Credit installation account & Debit Machinery account by Rs 7000

Rectification entry shall be;
Machinery A/C Dr Rs 7,000
To Installation Expense a/c Rs 7,000