ans, Accounting Standards

#questionThe 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: 1/31/2013 11:47:09 AM | Location :







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

Write discussion on ans
Your posts are moderated
Related Questions
Comprising examined the conceptual origin of the balance sheet we will here try to study the balance sheet by itself. We have observed that every transaction influences the financi

1)   List every item debited or credited in the Profit and Loss account. 2)   Illustrates the difference among Trading Account and Profit and Loss Account. 3)   Illustrates t

Fixed Assets These are tangible, relatively long-lived items owned through the business. The benefit of these assets is obtainable not only in the accounting period wherein the

What kinds of risks does a firm like Amazon.com face with respect to safeguarding its assets? What types of controls do you think it already has in place to minimize these risks? G

The main function of accounting is to accumulate accounting data so as to calculate the profit and loss made through the business firm throughout and also to KNOW the financial pos

Direct expenses comprise all those expenses incurred in bringing the goods to the place of business or trade or in-production process till the goods are placed in saleable places.

Balance sheet is related along with reporting the financial position of an entity on a specific point in time. Such position is conveyed in terms of listing all the things of value

Applicaion of Specific And General Loan

To finish  this scenario, use the Confidence Interval Calculator Sheets 1,2,3. The Sacred Grounds coffee shop in Dead horse, AK, is considering changing its coffee brewing units

You have learned about the business and its proprietor is reacted as separate entities. It implies that separate accounts must be kept in the ledger for recording transactions amon