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Secondary School Accountancy 5+3 pts
The trial balance prepared by dhanraj didn't tally and difference was transferred to suspense account. Subsequently the following errors were found . rectify the errors and show the suspense account. 1. a sale os 1600 rs to kamal was posted to karun. 2. insurance paid accounting to rs 250 was posted twice. 3. a sale of 1500 rs for old machinery was passed through sale book . 4. a purchase of rs 600 from kamesh wasn't passed through the book. 5. rs 80 the debit balance on commission account was omitted from trail balance. 6. the purchase return book was undercast by rs 700.
Answers
1.A sale of ₹1600 to Jamal was posted to karun.
Wrong Entry :-
Cash A/c Dr.
To, Sales A/c
(Being goods sold for cash to karun)
Right Entry :-
Cash A/c. Dr.
To, Sales A/c
(Being goods sold for cash to kamal)
Rectifying Entry :-
Kamal's A/c. Dr.
To, Karun's A/c
(Being goods sold for cash)
2. Insurance paid accounting to ₹250 was posted twice.
Wrong Entry :-
Insurance premium A/c. Dr. ₹500
To, Cash A/c
(Being insurance premium paid)
Right Entry :-
Insurance premium A/c. Dr. ₹250
To, Cash A/c
(Being insurance premium paid)
Rectifying Entry :-
Cash A/c Dr. ₹250
To, Insurance premium A/c
(Being cash received)
3.