Question

Rectify the following errors found in the books of Mr. B. Trial Balance had ₹ 930 excess credit. The difference has been posted to a Suspense Account:
(i) The total of Returns Inward Book has been cast ₹ 1,000 short.
(ii) The purchase of an office table costing ₹ 3,000 has been passed through Purchases Book.
(iii) ₹ 3,750 paid for wages to workmen for making showcases had been charged to the Wages Account.
(iv) A purchases of ₹ 670 had been posted to the Creditors Account as ₹ 600.
(v) A cheque for ₹ 2,000 received from Mr. P.C. Joshi had been dishonoured and was passed to the debit of the Allowances Account.
(vi) An amount of ₹ 15,720 due from Prasad written off as had in a previous year, was recovered and credited to the Personal Account of Prasad.
After rectification reflect the transactions in the Suspense Account.

Answer 1

Answer:

A trial balance is a list of all the general ledger accounts (both revenue and capital) contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance.

and then delete