suspense account, Accounting Basics

The book of Deven Verma could not be tallied. The account 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: 10/11/2012 12:47:35 AM | Location : United States







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

Write discussion on suspense account
Your posts are moderated
Related Questions
It dates from the development of huge scale business and the advent of Joint Stock Company as a form of business that enables the public to participate in giving capital in return

What process for excess payment to supplier I would like know without adjusting invoice that means how supplier will send back surplus amount how do in oracle apps?          Ans

Perpetual and Periodic inventory                                                                             a)  Describe the difference between the perpetual inventory method

Assignment on Generally Accepted Accounting Principles

i want to do accounts assignment

Illustrate about the matching principle  This principle requires that expenses and revenue be recorded in accounting period in which they occur. For a net income figure to be a

Examine the present system and recoginize specific weaknesses that must be addressed by a new improved system. As part of your analysis, prepare data flow diagrams (context, log


Problem 1: i) Assess the importance of accounting in the Public Sector. ii) How far has the Governmental Accounting Standards Board (GASB) changed financial reporting, ass

i have an assignment fro perdisco platform managing general entries of basic accounts will u guys be able to help with it