1. State which of the following errors will affect the agreement
of the Trial Balance and which will not. Give rectifying journal
entries wherever relevant assuming the difference in Trial
Balance has been placed to Suspense Account.
i) Purchase of a second-hand Motor Car for Rs. 15,000 has
been debited to Motor Car Maintenance Account.
ii) A sale of Rs. 5,000 to Shriram has been wrongly entered
in the Sales Day Book Rs. 500.
iii) An entry in the Purchases Returns Book of Rs. 2,000 has
been omitted to be posted in the account of Shri Ramji,
the supplier.
iv) An amount of RS. 2,000 received from Shrikant has
been posted to the credit of Shriman as Rs. 200.
v) The total of the Sales Day Book for the month of July
Rs. 1,50,000 has been omitted to be posted in the ledger.
Answers
Answer:
1. State which of the following errors will affect the agreement
of the Trial Balance and which will not. Give rectifying journal
entries wherever relevant assuming the difference in Trial
Balance has been placed to Suspense Account.
i) Purchase of a second-hand Motor Car for Rs. 15,000 has
been debited to Motor Car Maintenance Account.
ii) A sale of Rs. 5,000 to Shriram has been wrongly entered
in the Sales Day Book Rs. 500.
iii) An entry in the Purchases Returns Book of Rs. 2,000 has
been omitted to be posted in the account of Shri Ramji,
the supplier.
iv) An amount of RS. 2,000 received from Shrikant has
been posted to the credit of Shriman as Rs. 200.
v) The total of the Sales Day Book for the month of July
Rs. 1,50,000 has been omitted to be posted in the ledger.