CA CPT Exam > CA CPT Questions > An amount of Rs.200 received from A credited ...
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An amount of Rs.200 received from A credited to B would affect _______
- a)Accounts of A and B both
- b)A’s account only
- c)Cash account
- d)B’s account only
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
An amount of Rs.200 received from A credited to B would affect _______...
Accounts affected by receiving Rs.200 from A credited to B
When Rs.200 is received from A and credited to B, it affects the following accounts:
1. A's account: The amount received by B from A needs to be deducted from A's account as this is an outgoing transaction for A.
2. B's account: The amount received by B from A needs to be added to B's account as this is an incoming transaction for B.
3. Cash account: The cash account needs to be credited with Rs.200 as this is the amount received in cash.
Therefore, the correct answer is option 'A' - the accounts of both A and B are affected.
To summarize:
Accounts affected | Debit/Credit
--- | ---
A's account | Debit
B's account | Credit
Cash account | Credit
When Rs.200 is received from A and credited to B, it affects the following accounts:
1. A's account: The amount received by B from A needs to be deducted from A's account as this is an outgoing transaction for A.
2. B's account: The amount received by B from A needs to be added to B's account as this is an incoming transaction for B.
3. Cash account: The cash account needs to be credited with Rs.200 as this is the amount received in cash.
Therefore, the correct answer is option 'A' - the accounts of both A and B are affected.
To summarize:
Accounts affected | Debit/Credit
--- | ---
A's account | Debit
B's account | Credit
Cash account | Credit
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Community Answer
An amount of Rs.200 received from A credited to B would affect _______...
HERE INSTEAD OF CREDITING A's A/C WE CREDITED B's ACCOUNT.
SO B IS UNNECESSARLY CREDITED AND A IS NOT CREDITED AT ALL.
SO BOTH ACCOUNTS ARE AFFECTED.
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An amount of Rs.200 received from A credited to B would affect _______a)Accounts of A and B bothb)As account onlyc)Cash accountd)Bs account onlyCorrect answer is option 'A'. Can you explain this answer?
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