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
34. Rectify the following errors by passing Journal entries: (i) A sum of ₹470 received from Ganga was posted to her debit as ₹740. (ii) A debit balance of ₹550 in the personal account of Mr. John was undercast. (iii) Cheque from Brown for ₹3,000 posted to the credit of Expenses Payable Account and credited … Read more
33. Rectify the following errors: (i) The total of one page of Sales Book was carried forward as ₹37l instead of ₹317 (ii) ₹540 received from Yatin was posted to the debit of his Account. (iii) Purchases Returns Book was overcast by ₹300. (iv) An item of ₹1,062 entered in Sales Return Book had been … Read more
32. Give the Journal entries to rectify the following errors: (i) Purchases Book was overcast by ₹1,000. (ii) Installation charges on new machinery purchased ₹500 were debited to Sundry Expenses Account as ₹50. (iii) Radhey Shyam returned goods worth ₹500 which was entered in the Purchases Return Book. (iv) Goods taken by the proprietor for … Read more
31. Rectify the following errors: (i) Sale of old furniture worth ₹3,000 treated as sales of goods. (ii) Sales Book added ₹5,000 short. (iii) Rent of proprietor’s residence, ₹6,500 debited to Rent Account. (iv) Goods worth ₹11,970 returned by Manav posted to his debit as ₹11,790. (Delhi) T.S.Grewal/2024 Edition/Practical Problems/Q-31 For full question, please … Read more