Question

Q4. The Trial Balance prepared by Dhanraj did not tally and the difference was
transferred to Suspense Account. Subsequently, the following errors were found.
Rectify the errors and show the suspense Account.
a) A sale of Rs. 1, 600 to Kamalnath was posted to Karunanath.
b) Insurance paid amounting to Rs 250 was posted twice.
c) A sale of Rs 1,500 for old machinery was passed through the sale book.
d) A purchase of Rs. 600 from Kamesh was not passed through the books.
e) Rs. 80, the debit balance on commission account was omitted from the trial
balance.
f) The purchase returns book was undercast by Rs 700.​

Answer 1

Answer:

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Answer 2

Answer:

Explanation:

a.Kamal nath Account debi       1,600

   Karunanath Account Credit   1,600

** Being sale to kamalnath was wrongly

  posted to Karuna rectified now

b. Suspense Account Debit         250

   Insurance Account Credit       250

*** Insurance paid posted twice now rectified.

c. Sale account Debit                1,500

   Machinery Account credit    1,500

*** Sold machinery wrongly trf to sale book now rectified.

d. Purchase Account debit         600

    Kamesh Account Credit        600

*** Purchase to kamesh not passed now rectified

e. Commission Account Debit      80

    Suspense Account Credit        80.

***** Commission was not taken into Trial balance now rectified

f.  Suspense Account Debit        700

    Purchase Ret Account credit  700

*** Purchase return book under cast now rectified

Explanation:

                                   Suspense Account

__________________________________________________________

To Insurance                     250         By Commission                        80

To Purchase Return          700         By Balance C/d                       830