There was a difference of ₹ 720 in the Trial Balance which has been transferred to the credit side of the Supense Account. Pass the rectifying entries and prepare a Suspense Account to rectify the following errors:
There was a difference of ₹ 720 in the Trial Balance which has been transferred to the credit side of the Supense Account. Pass the rectifying entries and prepare a Suspense Account to rectify the following errors:
(i) An amount of ₹ 375 now posted on the debit side of the Commission Account instead of ₹ 275.
(ii) Credit amount of ₹ 260 posted to the debit of the Personal Account as ₹ 360.
(iii) Goods sold to Surinder recorded in Purchases Book ₹ 300.
(iv) D’s bill for erection of godown at a cost of ₹ 1,200 has been charged to the Repairs Account.
[Total of Suspense Account – ₹ 720.]
Anurag Pathak Changed status to publish October 1, 2023
