The following mistakes were identified in the books of a firm after its books were closed and opened in order to match Trial Balance:
Account was
(1) Sales Book was overcast by * 10,000.
(1) A sale of 5,000 to Madhur was wrongly debited to the account of Madhuri.
that is first part and second part in image
15 points for this one
Answers
Answer:
P & L Adjustment A/c
To Suspense A/c
(Correction of error by which sales account was overcast last year)
Dr 1,000
1,000
(ii) X
To Y
(Correction of error by which sale of Rs. 5,000 to X was wrongly debited to Y's account) Dr 5,000
5,000
(iii) Suspense A/c
To P & L Adjustment A/c
(Correct of error by which general expenses of Rs. 180 was wrongly posted as Rs. 810
Dr 630 630
(iv) Bills Receivable A/c
Bills Payable A/c
To P
(Correction of error by which bull receivable of Rs. 1,550 was wrongly passed through BP book
Dr.
Dr.
1,550
1,550
3,100
(v) P & L Adjustment A/c
To Mrs. Neetu
(Correction of error by which legal expenses paid to Mrs. Neetu was wrongly debited to her personal account)
Dr. 1,190 1,190
(vi) Suspense A/c
To Ram
To Shyam
(Removal of wrong debit to Shyam and giving credit to Ram from whom cash was received
Dr. 3,000 1,500
1,500
(vii) Suspense A/c
To P & L Adjustment A/c
(Correction of error by which Purchase A/c was excess debited by Rs. 90/− i.e., Rs. 1,325−Rs. 1,235)
Dr. 90
90
Suspense A/c
Rs. Rs.
To P & L Adjustment A/c 630 By P & L Adjustment A/c 1,000
To Ram 1,500 By Difference in Trial 2,720
To Shyam 1,500
To P & L Adjustment A/c 90
3,720
3,720
Explanation:
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