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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?
Most Upvoted Answer
If a purchase return of Rs. 1,000 has been wrongly posted to the debit...
It is because actually we need to credit the purchase returns account but we did not do so..the credit balance will decrease by 1000(increase in debit)and we debited sales returns account so debit balance will again increase by 1000... therefore option C
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Community Answer
If a purchase return of Rs. 1,000 has been wrongly posted to the debit...
Account, the errors in the accounts can be corrected by the following journal entries:

1. To correct the debit entry in the sales returns account:
Sales Returns Account Dr. Rs. 1,000
Purchases Returns Account Cr. Rs. 1,000

2. To correct the correct entry in the suppliers account:
Suppliers Account Dr. Rs. 1,000
Purchases Returns Account Cr. Rs. 1,000

By making these journal entries, the debit entry in the sales returns account will be reversed, and the correct entry will be recorded in the suppliers account. This will rectify the errors and ensure that the accounts reflect the correct information.
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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 sided)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 sided)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 sided)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 sided)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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