Rectify the following errors assuming: that no suspense account has been opened with difference in the trial balance.

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Anurag Pathak32.04K 4 minutes ago 0 Comments

Rectify the following errors assuming:-

(A) that no suspense account has been opened with difference in the trial balance.

(B) that such a suspense account has been opened.

(1) Goods costing ₹ 800 purchased from Sachin on credit were omitted to be credited to his account.

(2) Goods costing ₹ 800 purchased from Sachin on credit were credited to his account as ₹ 80.

(3) Goods costing ₹ 800 purchased from Sachin on credit were credited to his account as ₹ 880.

(4) Goods costing ₹ 800 purchased from Sachin on credit were posted to the debit of his account.

(5) Goods costing ₹ 800 purchased from Sachin on credit were posted to the debit of his account as ₹ 80.

score 0 · Answer 1 · 2026-01-13T17:14:01+00:00

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 the Cr. side——— ₹ 720”

(3) On the debit side of Sachin’s A/c:

“To excess amount posted on the Cr. side——- ₹ 80.”

(4) On the credit side of Sachin’s A/c:

“By error in posting to wrong side——– ₹ 1,600.”

(5) On the credit side of Sachin’s A/c:

“By error in posting to wrong side with wrong amount——– ₹ 880.”

Solution (B):-