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Purchased goods from Gopal for Rs.3,600 but was recorded in Gopal’s A/c as Rs.6,300. In the rectifying entry, Gopal’s A/c will be debited with :
- a)9,900
- b)2,700
- c)3,600
- d)6,300
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Purchased goods from Gopal for Rs.3,600 but was recorded in Gopal’s A...
As Gopal is credited with 6300 instead of 3600. To rectify this error, Gopal account should be debited with the difference i.e., 2700 (6300-3600).
Correct Entry
Purchases a/c Dr. 3600
To Gopal a/c 3600
Incorrect Entry
To Gopal a/c (wrong posting in ledger) 6300
Rectifying Entry
Gopal a/c Dr. 2700
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Purchased goods from Gopal for Rs.3,600 but was recorded in Gopal’s A...
Rectifying Entry for Incorrect Recording of Purchase Transaction:
To rectify the incorrect recording of the purchase transaction in Gopal's account, a rectifying entry needs to be made. The rectifying entry will correct the amount recorded in Gopal's account and bring it in line with the actual purchase amount.
The original transaction was recorded as Rs. 6,300 in Gopal's account, whereas the actual purchase amount was Rs. 3,600. Therefore, the rectifying entry will reduce the amount in Gopal's account to Rs. 3,600.
The rectifying entry will involve debiting Gopal's account with the difference between the original recording and the actual purchase amount. In this case, the difference is Rs. 6,300 - Rs. 3,600 = Rs. 2,700.
So, the correct rectifying entry will be:
Gopal's A/c Dr. Rs. 2,700
To Suspense A/c Rs. 2,700
Explanation:
1. Identify the error:
The error in this case is the over-recording of the purchase amount in Gopal's account. Instead of recording Rs. 3,600, it was recorded as Rs. 6,300.
2. Calculate the difference:
To determine the amount that needs to be adjusted in Gopal's account, we need to find the difference between the original recording and the actual purchase amount. The difference is Rs. 6,300 - Rs. 3,600 = Rs. 2,700.
3. Determine the rectifying entry:
To correct the error, we need to reduce the amount in Gopal's account by the difference. Since the amount was over-recorded, we will debit Gopal's account with the difference. The rectifying entry will be:
Gopal's A/c Dr. Rs. 2,700
To Suspense A/c Rs. 2,700
This entry will reduce the balance in Gopal's account by Rs. 2,700 and will bring it in line with the actual purchase amount of Rs. 3,600. The Suspense account is used as a temporary account to correct errors in the books of accounts.
Hence, the correct rectifying entry is option 'B' - Gopal's A/c will be debited with Rs. 2,700.
To rectify the incorrect recording of the purchase transaction in Gopal's account, a rectifying entry needs to be made. The rectifying entry will correct the amount recorded in Gopal's account and bring it in line with the actual purchase amount.
The original transaction was recorded as Rs. 6,300 in Gopal's account, whereas the actual purchase amount was Rs. 3,600. Therefore, the rectifying entry will reduce the amount in Gopal's account to Rs. 3,600.
The rectifying entry will involve debiting Gopal's account with the difference between the original recording and the actual purchase amount. In this case, the difference is Rs. 6,300 - Rs. 3,600 = Rs. 2,700.
So, the correct rectifying entry will be:
Gopal's A/c Dr. Rs. 2,700
To Suspense A/c Rs. 2,700
Explanation:
1. Identify the error:
The error in this case is the over-recording of the purchase amount in Gopal's account. Instead of recording Rs. 3,600, it was recorded as Rs. 6,300.
2. Calculate the difference:
To determine the amount that needs to be adjusted in Gopal's account, we need to find the difference between the original recording and the actual purchase amount. The difference is Rs. 6,300 - Rs. 3,600 = Rs. 2,700.
3. Determine the rectifying entry:
To correct the error, we need to reduce the amount in Gopal's account by the difference. Since the amount was over-recorded, we will debit Gopal's account with the difference. The rectifying entry will be:
Gopal's A/c Dr. Rs. 2,700
To Suspense A/c Rs. 2,700
This entry will reduce the balance in Gopal's account by Rs. 2,700 and will bring it in line with the actual purchase amount of Rs. 3,600. The Suspense account is used as a temporary account to correct errors in the books of accounts.
Hence, the correct rectifying entry is option 'B' - Gopal's A/c will be debited with Rs. 2,700.
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Purchased goods from Gopal for Rs.3,600 but was recorded in Gopal’s A/c as Rs.6,300. In the rectifying entry, Gopal’s A/c will be debited with :a)9,900b)2,700c)3,600d)6,300Correct answer is option 'B'. Can you explain this answer?
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Purchased goods from Gopal for Rs.3,600 but was recorded in Gopal’s A/c as Rs.6,300. In the rectifying entry, Gopal’s A/c will be debited with :a)9,900b)2,700c)3,600d)6,300Correct answer is option 'B'. Can you explain this answer? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Purchased goods from Gopal for Rs.3,600 but was recorded in Gopal’s A/c as Rs.6,300. In the rectifying entry, Gopal’s A/c will be debited with :a)9,900b)2,700c)3,600d)6,300Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Purchased goods from Gopal for Rs.3,600 but was recorded in Gopal’s A/c as Rs.6,300. In the rectifying entry, Gopal’s A/c will be debited with :a)9,900b)2,700c)3,600d)6,300Correct answer is option 'B'. Can you explain this answer?.
Purchased goods from Gopal for Rs.3,600 but was recorded in Gopal’s A/c as Rs.6,300. In the rectifying entry, Gopal’s A/c will be debited with :a)9,900b)2,700c)3,600d)6,300Correct answer is option 'B'. Can you explain this answer? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Purchased goods from Gopal for Rs.3,600 but was recorded in Gopal’s A/c as Rs.6,300. In the rectifying entry, Gopal’s A/c will be debited with :a)9,900b)2,700c)3,600d)6,300Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Purchased goods from Gopal for Rs.3,600 but was recorded in Gopal’s A/c as Rs.6,300. In the rectifying entry, Gopal’s A/c will be debited with :a)9,900b)2,700c)3,600d)6,300Correct answer is option 'B'. Can you explain this answer?.
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