Pls help me to rectify !!

A/c entries 573 views 2 replies

Himesh Katuria

Student

258 Points Joined June 2012

Respected CCI members ,

Pls help me to understand .

Question :Credit purchase from Rohan Rs 9000 were posted to the debit of Gobind as Rs 10,000.

Answer : Suspense A/c ------------Dr. 19000

To Rohan--------------------------9000

To Gobind-------------------------10,000

Pls help me to understand the solution , How you have understood this . Pls help me how to do ?

Thank you in anticipation.

Replies (2)

The error made in passing the entry is as under: 1. Gobind A/c Dr 10000 To Suspense A/c 10000 Hence the above entry is to be reversed. However the correct entry should have been 2. Suspense A/c Dr. 9000 To Rohan A/c 9000 Now the rectification entry should be reversal of entry 1 and combined with entry 2 Hence the answer Suspense A/c Dr 19000 to gobind 10000 to rohan 9000

~Priyanka MS~

536 Points Joined November 2012

Hey Sameer, In the given problem, Correct entry to be recorded is- Purchases A/c Dr 9000 To Rohan A/c 9000 But it is wrongly posted to debit of Gobind A/c for Rs.10000..Thus Rectification entry for the same would be - Suspense A/c Dr 19000 To Rohan A/c 9000 To Gobind A/c 10000 As,Gobind's wrong debit is to be cancelled , we credit it,and we debit Suspense A/c as to nullify the effect of the error... Suspense A/c is a Memorandum A/c opened for the time-being... Hope I answered ur query!!!