Question 2:
A book-keeper finds the difference in the Trial Balance amounting to Rs. 1,000 and puts it in the
Suspense Account
Later on he detects the following errors.
(1) Purchased goods from Ravi Rs. 15,000 but entered into Sales Book
(2) Received one bill for 25,000 from Arun but recorded in Bills Payable Book
(3) An item of Rs. 3,500 relating to prepaid rent account was omitted to be brought forward.
(4) An item of Rs. 2,000 in respect of purchase returns, had been wrongly entered in the
purchase book
Hari
(5)
Rs. 25,000 paid to Ran against our acceptance were debited to Hanish Account
Bills received from Janaki for repairs done to radio Rs. 2,500 and radio supplied for Rs.
45,000 were entered in the Purchase Book as Rs. 46,000.
Give rectifying journal entries with full narration and prepare Suspense Account.
(6)
Answers
Explanation:
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Answer:
Explanation:
1) Purchase A/c Dr 15000 (Dr What Comes in)
Sales A/c Dr 15000 (Dr What Comes in)
To Ravi A/c 30000 (Credit the Giver)
(Being Purchase Goods Wrongly Entered in Sales A/c, Now Rectified)
2) Bills Receivables A/c Dr 25000 (Dr what comes in)
Bills Payable A/c Dr 25000 (Dr the Expenses)
To Arun 50000 (Cr The Giver)
(Being Bills Receivables Wrongly Entered in Bills Payable, Now Rectified)
3) Prepaid Rent A/c Dr 3500 (Dr the expenses)
To Suspense A/c 3500 (Cr what goes out)
(Being Prepaid Rent was omitted to Brought forward, Now Rectified)
4) Suspense A/c Dr 4000 (Dr the Expenses)
To Purchase Return 2000 (Cr what goes out)
To Purchase A/c 2000 (Cr what goes out)
(Being Done Purchased Return Wrongly Passed in Purchase Book, Now Rectified)
5) Ran Dr 25000 (Debit the Receiver)
To Hanish 25000 (Credit the Giver)
(Being Paid to Ran was wrongly debited to Hanish A/c, Now Rectified)
6) Bills Receivable A/c Dr 48500 (Dr what comes in)
To Purchase A/c 46000 (Cr what goes out)
To Janaki 2500 (Cr what goes out)
(Being Bills received wrongly entered in Purchase Book, Now Rectified)
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