There was a difference of ₹ 430 in a Trial Balance. It was placed on the Debit side of a Suspense A/c. Later on the following errors were discovered. Pass rectifying entries and prepare Suspense A/c

There was a difference of ₹ 430 in a Trial Balance. It was placed on the Debit side of a Suspense A/c. Later on the following errors were discovered. Pass rectifying entries and prepare Suspense A/c

(1) Purchases book was overcast by ₹ 100.

(2) Sales book was overcast by ₹ 1,000.

(3) Goods for ₹ 800 purchased from Umakant, though entered in the purchase book, has not been posted to his account.

(4) An amount of ₹ 500 has been posted to the credit side of commission account instead of ₹ 570.

(5) Goods sold to Bharti for ₹ 4,400 has been posted to her account as ₹ 4,000.

(6) Goods sold to X for ₹ 750 were recorded in purchase book.

[Ans. Suspense account tallies. Total of both sides of Suspense A/c ₹ 1,400.]

Solution:-