Question
Goods purchased from Sohanlal wrongly recorded in sales register Rs. 500. What should be the rectification entry?
Goods purchased from Sohanlal wrongly recorded in sales register Rs. 500. What should be the rectification entry?
a. Purchases A/c Dr. 500 To Sohanlal 500
b. Sohanlal A/c Dr. 500 To Sales 500
c. Sales A/c Dr. 500 Purchases A/c Dr. 500 To Sohanlal 1000
d. Purchases A/c Dr. 500 To Sales 500
More Accounts Questions
- A high Debt-Equity Ratio indicates:
- Which of the following is true about the statements issued by the Institute of Chartered Accountants of India (ICAI)?
- FEMA, 1999, came into force replacing which Act?
- In the proposed budget (2017-18), cash donation to a political party is maximum up to:
- What is the total budgetary support approved by the Cabinet for the Pradhan Mantri Ujjwala Yojana (PMUY) targeted subsidy for FY 2025–26?
- Credit Information Bureau (India) Limited CIBIL is India’s credit information bureau which provides consumers credit scores to a closed user group of membe...
- A company has a Fixed Cost of ₹50,000. If the Selling Price per unit is ₹20 and the Variable Cost per unit is ₹10, what is the Break-Even Point in units?
- Which of the following best describes a "nominee director" in a company?
- A company pays insurance premium of ₹24,000 for 12 months in advance in March 2025 for the period January 2025 to December 2025. The accountant records the...
- A firm has increasing profits but declining cash flows. The management claims business is doing well. What should an analyst examine to validate the claim?
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
- 200 Questions with Detailed Solutions
- Section-wise Coverage (GA, English, Quant & Reasoning)