Question

A trader found difference of 3 1,500 in his Trial
Balance, which he debited to Suspense account.
Afterward the following errors were found. Give
correction entries and also prepare Suspense A/c :
(i) The Sales account was undercasted by 800.
(ii) *2,000 paid to Ramprasad was posted as 200
in his account.
(iii) Disc
ount Allowed to Manish of 200, was
wrongly debited to Ravish's A/c.
(iv) Proprietor withdrew * 2,500 for personal use,
was debited to Travelling Expenses A/c.
(v) Interest Received from Archana * 900 but was
credited to her account.​

Answer 1

Answer:

A trader found difference of

` 1,500 in his Trial

Balance, which he debited to Suspense account.

Afterward the following errors were found. Give

correction entries and also prepare Suspense A/c :

(i) The Sales account was undercasted by

` 800.

(ii)

` 2,000 paid to Ramprasad was posted as

` 200

in his account.

(iii) Discount Allowed to Manish of

` 200, was

wrongly debited to Ravish’s A/c.

(iv) Proprietor withdrew

` 2,500 for personal use,

was debited to Travelling Expenses A/c.

(v) Interest Received from Archana

` 900 but was

credited to her account.