The book of Deven Verma could not be tallied. The accountant transferred the difference of Rs.
1,270 in the suspense account on the debit side. The following mistakes were found later on.
Rectify these errors by passing Journal entries and prepare Suspense Account.
(a) The purchase of Rs. 400 from Saran was entered into sales book but Saran’s personal
account was rightly credited.
(b) Sales of Rs. 430 to Ramdas were credited in his account Rs. 340.
(c) Sales of old furniture of Rs. 540 was credited to sales account as Rs. 450.
(d) Goods worth Rs. 100 were taken by the proprietor which was not recorded.
(e) Sales of Rs. 296 to Kishan were entered in sales book as Rs. 269.
(f) Balance of Sales Return Book Rs. 210 was not included in the accounts.

Posted Date: 3/13/2013 8:30:11 PM | Location : USA

Ask an Expert

Related Discussions:- acoounts, Assignment Help, Ask Question on acoounts, Get Answer, Expert's Help, acoounts Discussions

Write discussion on acoounts
Your posts are moderated

Write your message here..

Related Questions

Find the price of a treasury bond , The time t= 0 continuously compounded... The time t= 0 continuously compounded term structure of interest rates is given by R(0 , T) = 0. 05 - 0. 005 e - 0.10 T . Find the price of a Treasury bond with exactly 3

Secret trusts-trusts laws and accounts, SECRET TRUSTS The initial basis o... SECRET TRUSTS The initial basis of the doctrine of secret trusts was the refusal of equity to permit a statute to be used as an engine of fraud (e.g. Bannister v Bannister).  Cer

OPERATING CYCLE, #question.DISCUSS THE APPLICABILITY OF AN OPERATING CYCLE ... #question.DISCUSS THE APPLICABILITY OF AN OPERATING CYCLE IN POULTRY BUSINESS.

Accounts under trustee-trusts laws and accounts, ACCOUNTS UNDER TRUSTEE ... ACCOUNTS UNDER TRUSTEE (a) Authorised investments The investments which trustees are permitted to hold may be specifically stated in the will or deed constituting the se

Related party transactions, worked example for Professional examinations worked example for Professional examinations

Calculate liquidity and balance sheet, Jaedan Industries has the following ... Jaedan Industries has the following account balances as of December 31, 2010.  The firm's dividend payout ratio is 25% and the tax rate is 34%.  The firm's stock price on December

Resolution for voluntary winding up-liquidation of companies, Resolution Fo... Resolution For Voluntary Winding Up A company may be put into voluntary liquidation: 1) By ordinary resolution: where any period fixed for the duration of the company has ex

Combined income statement-branches, Combined income statement The figur... Combined income statement The figures to appear in the combined income statement are based on the following diagram: 1) An arrow pointing into a box refers to purchase

Reason for incorporating statements into annual reports, what is the reason... what is the reason of incorporating 1. corporate governance statement 2. audit committee statement 3. internal audit statement into annual reports?

What is fair value in stock market, Q. What is fair value in stock market? ... Q. What is fair value in stock market? Fair value - Amount at which an asset (or liability) could be bought (or incurred) or sold (or settled) in a current transaction between