What will be the effect on Capital a/c after rectifying the following errors :
(i)Purchase of a cycle for Rs. 3,000 was debited to conveyance A/c (fixed assets are depreciated at 10 %)
(ii)Credit purchase of goods from X for Rs. 2,500 was wrongly entered in the sales book
(iii)Cash received from Mr. A Rs. 1,500 was posted to the A/c of Mr. B

Question

Examsnet · Accepted Answer

Correct Answer is : Debited with Rs. 2,300

CA CPT June 2015 Question Paper Fundamentals of Accounting for online practice