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.
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The accountant of X prepared the Trial Balance at the end of the year on 31st March, 2024. 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:
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A book-keeper finds that the debit side of the trial balance is short of ₹ 308 and so far the time being, he balances the side by putting the difference to suspense account. Subsequently, the following errors were disclosed
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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
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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
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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
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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
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Rectify the following errors assuming that Suspense Account was opened. Ascertain the difference in Trial Balance.
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Rectify the following errors assuming: that no suspense account has been opened with difference in the trial balance.
Solution (A):- (A) In all the above cases, rectification will be made by writing: (1) On the credit side of Sachin’s A/c: “By Omission of posting————-₹ 800.” (2) On the credit side of Sachin’s A/c: “By lesser amount posted to…
Rectify the following errors which were detected before preparing the Trial Balance: The total of Sales Book carried forward ₹ 5,000 less.
Solution:- (i) The rectification will be made by writing the following words on the credit side of Sales Account: “By undercasting of Sales Book——₹ 5,000.” (ii) The rectification will be made by writing the following words on the debit side…