7.
A book-keeper finds that the debit side of the Trial Balance is short of * 308/- and so
for the time being, he balance of the side by putting the difference to Suspense
Account. The following errors were disclosed.
1) The debit side of purchases account was undercast by 100/-
2) 100/-being the monthly total of discount allowed to customer were credited to discount
account in the ledger.
3) An entry for goods sold of 102/- to Mihir was posted to his account as * 120/-
4) 26/- appearing in the Cash Book as paid for the purchase of Stationery for office use
have not been posted to Ledger.
5) 275/-paid by Mihir were credited to Mithali's Account.
You are required to make the necessary Journal Entries and the Suspense Account.
excess credit of * 6,000/-. He
Answers
Answer:
I can,t understand is so big..
Answer:
Explanation:Date
Particulars
L.F.
Debit
Amount
(Rs)
Credit
Amount
(Rs)
(i)
Suspense A/c
Dr.
10,000
To Purchases A/c
10,000
(Purchase book was overcastted by Rs 10,000, now rectified)
(ii)
Purchases Return A/c
Dr.
1,000
To Suspense A/c
1,000
(Purchase return book was overcastted by Rs 1,000, now rectified)
(iii)
Purchases Return A/c
Dr.
100
To Suspense A/c
100
(Purchase return book’s balance was carried forward in excess of Rs 100, now rectified)
(iv)
Suspense A/c
Dr.
1,000
To Purchases A/c
1,000
(Purchase book’s balance was carried forward in excess of Rs 1,000, now rectified)