Question

1.
You are required to pass journal entries to rectify the following errors and 10
also prepare the Suspense Account. Marks will be awarded only when
proper reasoning of the entries are given and NOT mere journal entries.
(a) Goods amounting to Rs. 25,000/- was returned by customer, Mr. B.
This has been posted to the debit of Mr. B and also to Sales
Returns.
(b) Some items of existing Furniture was sold for Rs. 10,000 was
entered in the Sales Day Book , the total of which had been posted
to Sales Account.
(c) Wages of Rs. 5000/- paid for installation of machinery charged to
Wages Account
(d) An amount of Rs. 7,000 due from a customer Mr. R had been
omitted from the schedule of Sundry Debtors.
(e) A Bill of exchange which was received from Mr. A for Rs. 13,000
had been returned by the bank as dishonoured and had been
credited to the Bank and debited to Bill receivable Account.

Answer 1

Answer:

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