The Trial Balance of M/s Gupta & Sons shows a difference of ₹ 52,200. To prepare the Final Account on 31st March, 2003, this difference is placed in a Suspense Account.
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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:
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A Trial Balance disclosed a difference of ₹ 417 placed on the credit side of the Suspense Account. Later on the following errors were located:
Solution:- Suspense A/c Particulars ₹ Particulars ₹ To Gian’s A/c 727 By Balance B/d By Sohan A/c By Sales Return A/c By Sales A/c 417 50 130 130 727 727 dfd
There was a difference in the Trial Balance of M/s Jain & Sons, prepared for the year ended 31st March, 2009. The accountant put the difference in Suspense Account.
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Repairs to plant amounting to ₹ 2,000 had been charged to Plant and Machinery Account. ass the rectification entries for the following transactions:
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An amount of ₹ 2,000 received from Mohan on 1st April, 2023 had been entered in the Cash Book as having been received on 31st March, 2023.
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While trying to close his books for the year ended 31st March, 2014, Mahesh found that the Trial Balance did not agree. He traced the following errors:
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A sum of ₹ 470 received from Ganga was posted to her debit as ₹ 740. Rectify the following errors by passing Journal entries:
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Rectify the following errors: The total of one page of Sales Book was carried forward as ₹ 371 instead of ₹ 317.
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Give the Journal entries to rectify the following errors: Purchase book was overcasted by ₹ 1,000.
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