One item of purchase of Rs. 25 has been posted from the purchase book to the ledger as Rs. 350 ?

What will be its rectifying entry and how ?

The rectified entry is-

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

Supplier’s A/c

Dr.

325

 

  To Suspense A/c

 

 

325

(The mistake in posting from Purchases Book to Ledger, now rectified)

 

 

 

In the above entry, Supplier’s Account is debited because his account was wrongly credited (wrong posting from the Purchase Book to Ledger) with the excess amount of Rs 325 (Rs 350 – Rs 25).  It should also be noted that this error does not affect the Purchases as it was correctly recorded in the Purchases book.

  • 26

suspense dr  325

  to purchases 325

  • 3

But its ans is given as 


suppliers a/c  dr.
to suspense a/c

it is the only confusion

 

but anyway thnx for the answer

  • 3
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