44. Trial Balance of a bookkeeper shows an excess of debits over credits by ₹261. This difference is placed in a Suspense Account to facilitate books closure. Later on the following errors discovered: (i) A credit item of ₹349 has been debited to a Personal Account as ₹439. (ii) A sum of ₹625 written off … Read more
43. There was an error in the Trial Balance of Ram Gopal on 3lst March, 2024 and the difference in books was carried to the Suspense Account. On going through the books, you find that: (i) ₹540 received from Mayank was posted to the debit side of his account. (ii) ₹100 being purchases return was … Read more
42. Rajesh drew a Trial Balance for the year ended 31st March, 2024, There was a difference which he closed through Suspense Account. On a scrutiny, through following errors were found: (i) Purchase Book for the month of April 2023 was undercasted by ₹1,000. (ii) Sales Book of October 2023 was overcasted by ₹10,000. (iii) … Read more
41. The Trial Balance of M/s. Gupta & Sons shows a difference of ₹52,200. To prepare the Final Account on 31st March, 2024, this difference is placed in a Suspense Account. Afterwards the following errors were disclosed, Pass the necessary entries to rectify them and show the Suspense Account. (i) Purchases Book total had been … Read more
40. There was a difference of ₹720 in the Trial Balance which has been transferred to the credit side of the Suspense Account. Pass the rectifying entries and prepare a Suspense to rectify the following errors: (i) An amount of ₹375 now posted on the debit side of the Commission Account instead of ₹275. (ii) … Read more
39. A Trial Balance disclosed a difference of ₹417 placed on the credit side of the Suspense Account. Later on the following errors were located: (i) Goods worth ₹200 purchased from Sohan had been posted to his account as ₹250. (ii) A purchase of furniture for ₹500 was recorded in the Purchases Book. (iii) Instead … Read more
38. There was a difference in the Trial Balance of M/s. Jain & Sons, prepared for the year ended 31st March, 2024. The accountant put the difference in Suspense Account. The following errors were found: (i) Purchases Return Book total ₹400 has not been posted to Ledger Account. (ii) ₹5,100 spent on legal expense for … Read more
37. Pass the rectification entries for the following transactions: (i) Repairs to plant amounting to ₹2,000 had been charged to Plant and Machinery Account. (ii) An entry of ₹1,450 representing the selling price of goods returned to Mohan had been made in Return Outwards Book and posted. The amount should have been ₹1,300, the invoice … Read more
36. Pass the rectification entries for the following transactions: (i) An amount of ₹2,000 received from Mohan on lst April, 2024 had been entered in the Cash Book as having been received on 31st March, 2024. (ii) The balance in the account of Rahim ₹1,000 had been written off as bad but no other account … Read more
35. While trying to close his books for the year ended 31st March, 2024, Mahesh found that the Trial Balance did not agree. He traced the following errors: (i) In the Sales Book for the month of January total of Page No. 2 was carried forward to Page No. 3 as ₹1,000 instead of ₹1,200 … Read more