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Old office furniture sold to Sethi for Rs. 2,000 was entered in the Sales Book. The book value of furniture sold was Rs. 2,500. Rectification entry would be:
  • a)
    Sales A/c Dr. Rs. 2,000
     To Furniture A/c Rs. 2,000
  • b)
    Furniture A/c Dr. Rs. 2,500 
    To Loss on sales A/c 500 
    To Sales A/c 2,000
  • c)
    Sales A/c Dr. Rs. 2,000 
    Loss on sale of furniture Rs. 500 
    To Furniture A/c 2,500
  • d)
    Sethi’s A/c Dr. 2,000 
    To Furniture A/c 2,500
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Old office furniture sold to Sethi for Rs. 2,000 was entered in the Sa...
A/c Dr. Rs. 2,000
To Sales A/c Rs. 2,000

Explanation: The correct rectification entry in this case would be (d) Sethi A/c Dr. Rs. 2,000 To Sales A/c Rs. 2,000. This is because the furniture was sold to Sethi for Rs. 2,000, and therefore the entry should be reversed by debiting Sethi's account and crediting Sales account. The book value of the furniture sold was Rs. 2,500, but this is not relevant for the rectification entry as it is a separate matter.
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Old office furniture sold to Sethi for Rs. 2,000 was entered in the Sales Book. The book value of furniture sold was Rs. 2,500.Rectification entry would be:a)Sales A/c Dr. Rs. 2,000To Furniture A/c Rs. 2,000b)Furniture A/c Dr. Rs. 2,500To Loss on sales A/c 500To Sales A/c 2,000c)Sales A/c Dr. Rs. 2,000Loss on sale offurniture Rs. 500To Furniture A/c 2,500d)Sethi’s A/c Dr. 2,000To Furniture A/c 2,500Correct answer is option 'C'. Can you explain this answer?
Question Description
Old office furniture sold to Sethi for Rs. 2,000 was entered in the Sales Book. The book value of furniture sold was Rs. 2,500.Rectification entry would be:a)Sales A/c Dr. Rs. 2,000To Furniture A/c Rs. 2,000b)Furniture A/c Dr. Rs. 2,500To Loss on sales A/c 500To Sales A/c 2,000c)Sales A/c Dr. Rs. 2,000Loss on sale offurniture Rs. 500To Furniture A/c 2,500d)Sethi’s A/c Dr. 2,000To Furniture A/c 2,500Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Old office furniture sold to Sethi for Rs. 2,000 was entered in the Sales Book. The book value of furniture sold was Rs. 2,500.Rectification entry would be:a)Sales A/c Dr. Rs. 2,000To Furniture A/c Rs. 2,000b)Furniture A/c Dr. Rs. 2,500To Loss on sales A/c 500To Sales A/c 2,000c)Sales A/c Dr. Rs. 2,000Loss on sale offurniture Rs. 500To Furniture A/c 2,500d)Sethi’s A/c Dr. 2,000To Furniture A/c 2,500Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Old office furniture sold to Sethi for Rs. 2,000 was entered in the Sales Book. The book value of furniture sold was Rs. 2,500.Rectification entry would be:a)Sales A/c Dr. Rs. 2,000To Furniture A/c Rs. 2,000b)Furniture A/c Dr. Rs. 2,500To Loss on sales A/c 500To Sales A/c 2,000c)Sales A/c Dr. Rs. 2,000Loss on sale offurniture Rs. 500To Furniture A/c 2,500d)Sethi’s A/c Dr. 2,000To Furniture A/c 2,500Correct answer is option 'C'. Can you explain this answer?.
Solutions for Old office furniture sold to Sethi for Rs. 2,000 was entered in the Sales Book. The book value of furniture sold was Rs. 2,500.Rectification entry would be:a)Sales A/c Dr. Rs. 2,000To Furniture A/c Rs. 2,000b)Furniture A/c Dr. Rs. 2,500To Loss on sales A/c 500To Sales A/c 2,000c)Sales A/c Dr. Rs. 2,000Loss on sale offurniture Rs. 500To Furniture A/c 2,500d)Sethi’s A/c Dr. 2,000To Furniture A/c 2,500Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Old office furniture sold to Sethi for Rs. 2,000 was entered in the Sales Book. The book value of furniture sold was Rs. 2,500.Rectification entry would be:a)Sales A/c Dr. Rs. 2,000To Furniture A/c Rs. 2,000b)Furniture A/c Dr. Rs. 2,500To Loss on sales A/c 500To Sales A/c 2,000c)Sales A/c Dr. Rs. 2,000Loss on sale offurniture Rs. 500To Furniture A/c 2,500d)Sethi’s A/c Dr. 2,000To Furniture A/c 2,500Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Old office furniture sold to Sethi for Rs. 2,000 was entered in the Sales Book. The book value of furniture sold was Rs. 2,500.Rectification entry would be:a)Sales A/c Dr. Rs. 2,000To Furniture A/c Rs. 2,000b)Furniture A/c Dr. Rs. 2,500To Loss on sales A/c 500To Sales A/c 2,000c)Sales A/c Dr. Rs. 2,000Loss on sale offurniture Rs. 500To Furniture A/c 2,500d)Sethi’s A/c Dr. 2,000To Furniture A/c 2,500Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Old office furniture sold to Sethi for Rs. 2,000 was entered in the Sales Book. The book value of furniture sold was Rs. 2,500.Rectification entry would be:a)Sales A/c Dr. Rs. 2,000To Furniture A/c Rs. 2,000b)Furniture A/c Dr. Rs. 2,500To Loss on sales A/c 500To Sales A/c 2,000c)Sales A/c Dr. Rs. 2,000Loss on sale offurniture Rs. 500To Furniture A/c 2,500d)Sethi’s A/c Dr. 2,000To Furniture A/c 2,500Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Old office furniture sold to Sethi for Rs. 2,000 was entered in the Sales Book. The book value of furniture sold was Rs. 2,500.Rectification entry would be:a)Sales A/c Dr. Rs. 2,000To Furniture A/c Rs. 2,000b)Furniture A/c Dr. Rs. 2,500To Loss on sales A/c 500To Sales A/c 2,000c)Sales A/c Dr. Rs. 2,000Loss on sale offurniture Rs. 500To Furniture A/c 2,500d)Sethi’s A/c Dr. 2,000To Furniture A/c 2,500Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Old office furniture sold to Sethi for Rs. 2,000 was entered in the Sales Book. The book value of furniture sold was Rs. 2,500.Rectification entry would be:a)Sales A/c Dr. Rs. 2,000To Furniture A/c Rs. 2,000b)Furniture A/c Dr. Rs. 2,500To Loss on sales A/c 500To Sales A/c 2,000c)Sales A/c Dr. Rs. 2,000Loss on sale offurniture Rs. 500To Furniture A/c 2,500d)Sethi’s A/c Dr. 2,000To Furniture A/c 2,500Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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