Capital of Gaurav in the beginning of the year was ₹ 70,000. During the year his business earned a profit of ₹ 20,000
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The following information of an accounting year is given: Opening Capital ₹ 60,000; Drawings ₹ 5,000; Capital added during the year ₹ 10,000 and Closing Capital ₹ 90,000
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A Trial Balance disclosed a difference of ₹ 217 placed on the credit side of the Suspense Account. Later on the following errors were located
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The Trial Balance extracted from the books of Anil on 31st March, 2022 did not agree. The difference was transferred to a Suspense Account
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An accountant while balancing his books found that there was a difference of ₹ 860 in the Trial Balance
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The Trial Balance of M/s. Gupta & Sons shows a difference of ₹ 52,200. To prepare the Final Accounts on 31st March, 2022, this difference is placed in a Suspense Account
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You are presented with a Trial Balance showing a difference which has been carried to the Suspense Account and the following errors are subsequently identified
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The following mistakes were identified in the books of a firm after its books were closed and a Suspense Account was opened in order to match Trial Balance:
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The 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
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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
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