Can anyone tel wat this is ??

784 views 3 replies

A credit sale of old furniture to rohan for Rs 170 posted as  Rs 710.

can any one tel me how to rectify this and is this a one sided error or two sided error ???

Replies (3)
TWO SIDED ERROR.......PASS REVERSE ENTRY .....FURNITURE TO ROHAN 540

This is two sided error & can be rectified by any of the following ways --

Method 1: Pass two journal entries --

               (I) Furniture A/c           Dr.  710

                       To Rohan                        710

                  (Being the reversal of sale of furniture)

 

               (II) Rohan                    Dr.  170

                       To Furniture A/c               170

                  (Being correction of sale of furniture entry passed before)

 

Method 2: One rectifying entry instead of the two --

                Furniture A/c             Dr.  540

                     To Rohan                         540

               (Being the rectifying entry paased for sale of furniture)

 

I would advise to suggest method 1 so that in case of any problem, entry may easily be traced.

sir here credit sale of old furniture to rohan for Rs 170 posted as Rs 710. posted means posting from original book to ledger account or what sir ????


 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 July 2026
Senior Executive/ Manager

H S SHARMA AND CO

Pune

CA Final

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

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 15 July 2026
CA Articles

Kinjal H Shah & Co.

Mumbai

CA Foundation

View Details
Company
Featured 18 July 2026
CA Articleship

apricus india

Mumbai

CA Inter

View Details
Company
06 July 2026
Chartered Accountant (Indirect Taxation)

Gowra Ventures Pvt Ltd

Hyderabad

CA

View Details
Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

Sahil Agarwal & Company

Mumbai

CA Inter

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details