Question

5. The Trial Balance prepared by a book-keeper on 31.12.2008
showed excess credit of Rs. 240. This difference was transferred
to suspense account. The following errors were found You are
required to Pass Journal entries to rectify these errors, prepare
suspense account and show the effect on profit.
31.12.2008

Answer 1

Answer:

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Secondary School Accountancy 5 points

The Trial Balance prepared by a book-keeper on 31.12.2008

showed excess credit of Rs. 240. This difference was transferred

to suspense account. The following errors were found You are

required to Pass Journal entries to rectify these errors, prepare

suspense account and show the effect on profit

Ask for details Follow Report by Biplov3324 24.09.2018

Answers

reenaarora1 Ambitious

Rectified journal entries and suspense account

3.2

6 votes

THANKS

10

Comments Report

franktheruler Virtuoso

Answer:

Explanation:

In the books of Journal entry

Particulars amount amount

Suspense A/c Dr. 240

To, creditors A/C 240

[ being excess credit transferred to suspense A/C ]

Suspense A/C

Particulars amount amount particulars amount amount

To, Creditors A/C 240 By balance c/d 240

240 240

In trial balance, If credit showed excess of Rs. 240 then, profit will decrease by Rs. 240