Question

Q. 11 A book-keeper while preparing his trial balance finds that the credit side exceeds by Rs.
13,500. He places the difference to a Suspense Account. Subsequently the following errors
were ascertained:
i. A sale of Rs.8,000 to Kishor has been passed through the Purchases Book. The entry in
Kishor's Account has been correctly posted.
ii. Goods purchased from Deepak amounting Rs. 25,000 was wrongly recorded in the Sales Book.
III. Debit balance of Rs. 12,500 was carried forward as a credit balance in Omvir's Account.
iv. A sum of Rs. 4,500 written off as depreciation on furniture has not been debited to Depreciation
Account.
Draft the Journal entries for rectifying the above mistakes and prepare Suspense Account. (6)​

Answer 1

Answer:

A Bank's Balance Sheet. A balance sheet is an accounting tool that lists assets and liabilities. ... The net worth is the asset value minus how much is owed (the liability). A bank's balance sheet operates in much the same way. A bank's net worth is also referred to as bank capital.

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