27. A Trial Balance showed excess credit of ₹2,728, which were placed in a suspense account. Later on the following errors were located. Pass rectifying entries and prepare Suspense A/c. ₹825, the total of purchase return book has been posted to the debit of sales return account. Goods purchased from Suresh ₹1,800 recorded in Sales … Read more
26. Rajesh Kumar was unable to reconcile his Trial Balance as on 31st March 2023 and has opened a suspense account from the difference. Later on the following errors were discovered: (1) There were three compensating errors (a) The total of Sales Return Book was overcast by ₹100. (b) The total of one page of … Read more
25. There was an error in the Trial Balance of Mr. Steel on 31st March, 2023, and the difference in Books was carried to a Suspense Account. On going through the Books you find that: (i) ₹5,400 received from Mr. A was posted to the debit of his account. (ii) ₹1,000 being purchases return were … Read more
24. Trial Balance of Madan did not agree and he put the difference to Suspense Account. He discovered the following errors (a) Sales Returns book overcast by ₹800. (b) Purchases returns to Sahu ₹2,000 were not posted to his account. (c) Goods purchased on credit from Narula ₹4,000 though taken into stock but no entry … Read more
23. Trial Balance of Anuj did not agree. It showed an excess credit of ₹6,000. He put the difference to Suspense Account. He discovered the following errors. (a) Cash received from Ravish ₹8,000 posted to his account as ₹6,000. (b) Returns Inwards book overcast by ₹1,000. (c) Total of Sales Book ₹10,000 was not posted … Read more
22. The accountant of X prepared the Trial Balance at the end of the year on 31st March, 2023. But there was a difference and the accountant put the difference in a Suspense Account. Rectify the following errors found and prepare the Suspense Account: (a) The total of the returns outward book ₹420 has not … Read more
21. A book-keeper finds that the debit side of the trial balance is short of ₹308 and so for the time being, he balances the side by putting the difference to suspense account. Subsequently, the following errors were disclosed: (a) An entry for sale of goods for ₹102 to Madhav was posted to his account … Read more
20. The Trial Balance prepared by a Book-keeper showed a difference of ₹1,006 which was placed in a newly opened Suspense Account and carried forward to the next year, when the following errors were discovered: (i) Goods purchased for ₹99 had been posted to the credit of the supplier as ₹990. (ii) ₹75 received as … Read more
19. A Book-keeper failed to balance his trial balance, the credit side exceeding the debit side by ₹175. This amount was entered in a Suspense Account. Later on the under mentioned errors were discovered: Goods amounting to ₹620 sold to D & Co. were correctly entered in the Sales book, but posted to the Company’s … Read more
18. In taking out the Trial Balance, book-keeper finds that he is out ₹3,809 excess debit. Being desirous of closing his books he places the difference to a newly opened Suspense A/c which is carried forward. In the next period he discovered that: ₹17,715 received from X has not been posted to his account A … Read more