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. Afterwards the following errors were disclosed. Pass necessary entries to rectify them and show the Suspense Account.

(i) Purchases Book total had been undercasted by ₹ 20,000.

(ii) A cheque received from Vasudev for ₹ 7,800 had been debited in the Cash Book but not posted in Vasudev’s Personal Account.

(iii) The Returns Outward Book had been overcasted by ₹ 10,000.

(iv) Goods returned by Yash Pal worth ₹ 15,000 have been entered in Returns Outward Book. However, Yash Pal’s Account is correctly posted.

(v) Goods costing ₹ 20,000 were purchased for various members of the staff and the cost was included in ‘Purchases’. A similar amount was deducted from the salaries of the staff members cocerned and the net payments to them debited to Salaries Account.

Anurag Pathak Changed status to publish October 26, 2023