Pass Journal entries to rectify the following errors. The trial balance had ₹ 1,260 excess credit. The difference has been posted to a suspense account:

Pass Journal entries to rectify the following errors. The trial balance had ₹ 1,260 excess credit. The difference has been posted to a suspense account:

(i) the total of returns inwards book has been cast ₹ 2,000 short.

(ii) The purchase of an office table costing $ 6,000 has been passed through the purchases day book.

(iii) A sum of ₹ 7,500 paid to workman for wages for making showcases has been charged to wages account.

(iv) A purchase of ₹ 1,340 has been posted to the creditor’s account asa ₹ 600.

(v) A cheque of ₹ 4,000 received from Y has been dishonoured; It has been posted to the debit of allowances account.

After passing journal entries, prepare the suspense account.

[Ans. Suspense A/c tallies; total of Suspense A/c ₹ 2,000.]

Solution:-