Rectification of entry

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
08 November 2014 Case : Suppose an excise bill amounting to Rs. 11,000 (Rs. 10,000 - purchase value plus Rs. 1,000 - Excise) has been wrongly entered as Rs. 10,000 (Rs. 9,000 - purchase value plus Rs. 1,000 - Excise) in financial year 2012-13. The error was detected while finanlisation of accounts for financial year 2013-14. Now, what should be the rectification entry that should be passed to rectify the error committed and correct the books of accounts.

08 November 2014 Take it out of general reserve.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
08 November 2014 The case is for a partnership firm. So kindly elaborate

08 November 2014 debit partners' capital accounts in the loss sharing ratio


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro

Follow us
add to google news


Answer Query



Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details
Company
24 June 2026
Chartered Accountant

CA Darshita Shah & Co

Nadiad

CA

View Details
Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details