The procedure for passing a rectifying entry is as follows:Step 1. Write on the rough paper the wrong entry which has actually been passed. Step 2. Write on a rough paper the reverse of the wrong entry.Step 3. Write on a rough paper the correct entry which should have been passed.Step 4.Pass in the Journal Proper the rectifying entry which will be the net effect of the correct entry (Step 3) and reverse of the wrong entry (Step 2).Let us explain withe example how the two-sided errors are rectified.(i) Machinery purchased on credit from Mohan Rs. 50,000 has been entered in the Purchases Book. Pass a rectification entry.

The procedure for passing a rectifying entry is as follows:Step 1. Wri

1.	The procedure for passing a rectifying entry is as follows:Step 1. Write on the rough paper the wrong entry which has actually been passed. Step 2. Write on a rough paper the reverse of the wrong entry.Step 3. Write on a rough paper the correct entry which should have been passed.Step 4.Pass in the Journal Proper the rectifying entry which will be the net effect of the correct entry (Step 3) and reverse of the wrong entry (Step 2).Let us explain withe example how the two-sided errors are rectified.(i) Machinery purchased on credit from Mohan Rs. 50,000 has been entered in the Purchases Book. Pass a rectification entry.
Answer» <html><body><p></p>Solution :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XI_C17_S01_003_S01.png" width="80%"/><br/> Step <a href="https://interviewquestions.tuteehub.com/tag/4-311707" style="font-weight:bold;" target="_blank" title="Click to know more about 4">4</a>:Rectifying Entry (Net Effect of Step <a href="https://interviewquestions.tuteehub.com/tag/2-283658" style="font-weight:bold;" target="_blank" title="Click to know more about 2">2</a> and Step 3) will be passed as follows: <br/><img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XI_C17_S01_003_S02.png" width="80%"/><br/><a href="https://interviewquestions.tuteehub.com/tag/note-1125278" style="font-weight:bold;" target="_blank" title="Click to know more about NOTE">NOTE</a>:If the error is committed in books of <a href="https://interviewquestions.tuteehub.com/tag/original-1139424" style="font-weight:bold;" target="_blank" title="Click to know more about ORIGINAL">ORIGINAL</a> entry then assume all postings are done accordingly.</body></html>

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