An accountant of a firm found that his Trial Balance was out (excess credit) by ₹ 742. He placed the amount in a Suspense Account and Subsequently found the following errors:

(i) A discount of ₹ 178 was allowed to Bharat but in his account only ₹ 100 is recorded.

(ii) The total of the Purchases Book was ₹ 1,000 short.

(iii) A sale of ₹ 375 to Kohli was entered in the Sales Book as ₹ 735.

(iv) From the Purchases Book, Bose’s Account was debited with ₹ 175.

(v) Cash ₹ 250 received from Maitra against debt previously written off was credited to his account.

(vi) Purchase of office furniture worth ₹ 750 on credit from Delhi Furniture was entered in the Purchases Book.

(vii) While carrying forward the total of the Sales Book from one page to another the amount of ₹ 11,358 was written as ₹ 11,538.

(viii) The proprietor took goods of the value of ₹ 150 for his domestic consumption. No record of it has been made in the books.

(ix) Repairs bill of ₹ 410 for the proprietor’s personal car, has been paid by the firm and debited to the Repairs Account.

(x) A sale of ₹ 700 to Shriram has been entered in the Purchases Book.

Rectify the errors by means of suitable Journal entries and show the Suspense Account.

Anurag Pathak Changed status to publish October 1, 2023
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