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If a purchase return of Rs.1,000 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in the suppliers’ account, the total of the
- a)trial balance would show the debit side to be Rs.1,000 more than the credit
- b)trial balance would show the credit side to be Rs.1,000 more than the debit.
- c)the debit side of the trial balance will be Rs.2,000 more than the credit side.
- d)the credit side of the trial balance will be Rs.2,000 more than the debit side.
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
If a purchase return of Rs.1,000 has been wrongly posted to the debit ...
This error will give the double affect as instead of credit of Rs.1000 for purchase return, a debit of Rs.1000 is posted to sales return a/c.
Due to this, debit of trial balance will be Rs.2000 more than the credit side.
Most Upvoted Answer
If a purchase return of Rs.1,000 has been wrongly posted to the debit ...
Understanding the Purchase Return Entry Error
When a purchase return of Rs. 1,000 is incorrectly posted to the debit of the sales returns account instead of the correct purchase returns account, it creates an imbalance in the trial balance. Here’s how:
Detailed Breakdown of the Error
- The purchase return is a reduction in purchases. When it is posted to the sales returns account, it incorrectly increases the sales returns.
- This results in:
- **Debiting Sales Returns Account**: This increases the debit balance erroneously by Rs. 1,000.
- **Credit to Supplier’s Account**: The supplier’s account is correctly credited by Rs. 1,000.
Impact on the Trial Balance
- The trial balance consists of total debits and total credits.
- Since Rs. 1,000 is added to the debit side (sales returns) but should not have been there, the total debit side reflects an excess of Rs. 1,000.
- On the credit side, the Rs. 1,000 added to the supplier account correctly reflects a credit.
Conclusion of Balances
- The debit side now has:
- Original debits + Rs. 1,000 (wrongly posted sales returns) = Increased debit balance.
- The credit side has:
- Original credits + Rs. 1,000 (correctly posted supplier account) = Unchanged credit balance.
Final Calculation
- Thus, the net effect becomes:
- **Debit Side**: Increased by Rs. 1,000 due to the error.
- **Credit Side**: Unchanged.
This results in the debit side of the trial balance being Rs. 2,000 more than the credit side.
Hence, the correct answer is option 'C': the debit side of the trial balance will be Rs. 2,000 more than the credit side.
When a purchase return of Rs. 1,000 is incorrectly posted to the debit of the sales returns account instead of the correct purchase returns account, it creates an imbalance in the trial balance. Here’s how:
Detailed Breakdown of the Error
- The purchase return is a reduction in purchases. When it is posted to the sales returns account, it incorrectly increases the sales returns.
- This results in:
- **Debiting Sales Returns Account**: This increases the debit balance erroneously by Rs. 1,000.
- **Credit to Supplier’s Account**: The supplier’s account is correctly credited by Rs. 1,000.
Impact on the Trial Balance
- The trial balance consists of total debits and total credits.
- Since Rs. 1,000 is added to the debit side (sales returns) but should not have been there, the total debit side reflects an excess of Rs. 1,000.
- On the credit side, the Rs. 1,000 added to the supplier account correctly reflects a credit.
Conclusion of Balances
- The debit side now has:
- Original debits + Rs. 1,000 (wrongly posted sales returns) = Increased debit balance.
- The credit side has:
- Original credits + Rs. 1,000 (correctly posted supplier account) = Unchanged credit balance.
Final Calculation
- Thus, the net effect becomes:
- **Debit Side**: Increased by Rs. 1,000 due to the error.
- **Credit Side**: Unchanged.
This results in the debit side of the trial balance being Rs. 2,000 more than the credit side.
Hence, the correct answer is option 'C': the debit side of the trial balance will be Rs. 2,000 more than the credit side.
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Community Answer
If a purchase return of Rs.1,000 has been wrongly posted to the debit ...
Creditor account dr. 2000
to sale return account. 1000
to purchase return account 1000
this should be rectified entry that's why affect of 2000 and not 1000
to sale return account. 1000
to purchase return account 1000
this should be rectified entry that's why affect of 2000 and not 1000
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If a purchase return of Rs.1,000 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in the suppliers’ account, the total of thea)trial balance would show the debit side to be Rs.1,000 more than the creditb)trial balance would show the credit side to be Rs.1,000 more than the debit.c)the debit side of the trial balance will be Rs.2,000 more than the credit side.d)the credit side of the trial balance will be Rs.2,000 more than the debit side.Correct answer is option 'C'. Can you explain this answer?
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If a purchase return of Rs.1,000 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in the suppliers’ account, the total of thea)trial balance would show the debit side to be Rs.1,000 more than the creditb)trial balance would show the credit side to be Rs.1,000 more than the debit.c)the debit side of the trial balance will be Rs.2,000 more than the credit side.d)the credit side of the trial balance will be Rs.2,000 more than the debit side.Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about If a purchase return of Rs.1,000 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in the suppliers’ account, the total of thea)trial balance would show the debit side to be Rs.1,000 more than the creditb)trial balance would show the credit side to be Rs.1,000 more than the debit.c)the debit side of the trial balance will be Rs.2,000 more than the credit side.d)the credit side of the trial balance will be Rs.2,000 more than the debit side.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If a purchase return of Rs.1,000 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in the suppliers’ account, the total of thea)trial balance would show the debit side to be Rs.1,000 more than the creditb)trial balance would show the credit side to be Rs.1,000 more than the debit.c)the debit side of the trial balance will be Rs.2,000 more than the credit side.d)the credit side of the trial balance will be Rs.2,000 more than the debit side.Correct answer is option 'C'. Can you explain this answer?.
If a purchase return of Rs.1,000 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in the suppliers’ account, the total of thea)trial balance would show the debit side to be Rs.1,000 more than the creditb)trial balance would show the credit side to be Rs.1,000 more than the debit.c)the debit side of the trial balance will be Rs.2,000 more than the credit side.d)the credit side of the trial balance will be Rs.2,000 more than the debit side.Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about If a purchase return of Rs.1,000 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in the suppliers’ account, the total of thea)trial balance would show the debit side to be Rs.1,000 more than the creditb)trial balance would show the credit side to be Rs.1,000 more than the debit.c)the debit side of the trial balance will be Rs.2,000 more than the credit side.d)the credit side of the trial balance will be Rs.2,000 more than the debit side.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If a purchase return of Rs.1,000 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in the suppliers’ account, the total of thea)trial balance would show the debit side to be Rs.1,000 more than the creditb)trial balance would show the credit side to be Rs.1,000 more than the debit.c)the debit side of the trial balance will be Rs.2,000 more than the credit side.d)the credit side of the trial balance will be Rs.2,000 more than the debit side.Correct answer is option 'C'. Can you explain this answer?.
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If a purchase return of Rs.1,000 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in the suppliers’ account, the total of thea)trial balance would show the debit side to be Rs.1,000 more than the creditb)trial balance would show the credit side to be Rs.1,000 more than the debit.c)the debit side of the trial balance will be Rs.2,000 more than the credit side.d)the credit side of the trial balance will be Rs.2,000 more than the debit side.Correct answer is option 'C'. Can you explain this answer?, a detailed solution for If a purchase return of Rs.1,000 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in the suppliers’ account, the total of thea)trial balance would show the debit side to be Rs.1,000 more than the creditb)trial balance would show the credit side to be Rs.1,000 more than the debit.c)the debit side of the trial balance will be Rs.2,000 more than the credit side.d)the credit side of the trial balance will be Rs.2,000 more than the debit side.Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of If a purchase return of Rs.1,000 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in the suppliers’ account, the total of thea)trial balance would show the debit side to be Rs.1,000 more than the creditb)trial balance would show the credit side to be Rs.1,000 more than the debit.c)the debit side of the trial balance will be Rs.2,000 more than the credit side.d)the credit side of the trial balance will be Rs.2,000 more than the debit side.Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice If a purchase return of Rs.1,000 has been wrongly posted to the debit of the sales returns account, but has been correctly entered in the suppliers’ account, the total of thea)trial balance would show the debit side to be Rs.1,000 more than the creditb)trial balance would show the credit side to be Rs.1,000 more than the debit.c)the debit side of the trial balance will be Rs.2,000 more than the credit side.d)the credit side of the trial balance will be Rs.2,000 more than the debit side.Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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