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Rectify the following errors found in the books of Mr. B. Trial Balance had ₹ 930 excess credit. The difference has been posted to a Suspense Account:(i) The total of Returns Inward Book has been cast ₹ 1,000 short.(ii) The purchase of an office table costing ₹ 3,000 has been passed through Purchases Book.(iii) ₹ 3,750 paid for wages to workmen for making showcases had been charged to the Wages Account.(iv) A purchases of ₹ 670 had been posted to the Creditors' Account as ₹ 600.(v) A cheque for ₹ 2,000 received from Mr. P.C. Joshi had been dishonoured and was passed to the debit of the Allowances Account.(vi) An amount of ₹ 15,720 due from Prasad written off as had in a previous year, was recovered and credited to the Personal Account of Prasad.After rectification reflect the transactions in the Suspense Account. |
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Answer» Rectify the following errors found in the books of Mr. B. Trial Balance had ₹ 930 excess credit. The difference has been posted to a Suspense Account: (i) The total of Returns Inward Book has been cast ₹ 1,000 short. (ii) The purchase of an office table costing ₹ 3,000 has been passed through Purchases Book. (iii) ₹ 3,750 paid for wages to workmen for making showcases had been charged to the Wages Account. (iv) A purchases of ₹ 670 had been posted to the Creditors' Account as ₹ 600. (v) A cheque for ₹ 2,000 received from Mr. P.C. Joshi had been dishonoured and was passed to the debit of the Allowances Account. (vi) An amount of ₹ 15,720 due from Prasad written off as had in a previous year, was recovered and credited to the Personal Account of Prasad. After rectification reflect the transactions in the Suspense Account. |
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