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
17. There was a difference of ₹430 in a Trial Balance. It was placed on the Debit side of a Suspense A/c. Later on the following errors were discovered. Pass rectifying entries and prepare Suspense A/c. Purchases book was overcast by ₹100. Sales book was overcast by ₹1,000. Goods for ₹800 purchased from Umakant, though … Read more
16. Rectify the following errors assuming that Suspense Account was opened. Ascertain the difference in Trial Balance. (a) Credit sales to Mohan ₹7,000 were recorded in Purchase Book. However, Mohan’s Account was correctly debited. (b) Credit purchases from Rohan ₹9,000 were recorded in Sales Book. However, Rohan’s Account was correctly credited. (c) Goods returned to … Read more
15. Rectify the following errors which were detected before preparing the Trial Balance: (A) that no suspense account has been opened with difference in the trial balance, (B) that such a suspense account has been opened. Goods costing ₹800 purchased from Sachin on credit were omitted to be credited to his account. Goods costing ₹800 … Read more
14. Rectify the following errors assuming: (i) The total of Sales Book carried forward ₹5,000 less. (ii) A credit sale to Sita ₹6,300 posted as ₹3,600. (iii) A credit sale to Radha ₹2,400 posted as ₹4,200. (iv) A credit sale to Parbati ₹3,000 credited to her account. (v) A credit sale to Laxmi ₹5,600 credited … Read more