#title.suspense account, Accounting Basics, Accounting Basic, Cost Accounting

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: 3/22/2013 5:58:58 AM | Location : USA







Related Discussions:- #title.suspense account, Accounting Basics, Accounting Basic, Assignment Help, Ask Question on #title.suspense account, Accounting Basics, Accounting Basic, Get Answer, Expert's Help, #title.suspense account, Accounting Basics, Accounting Basic Discussions

Write discussion on #title.suspense account, Accounting Basics, Accounting Basic
Your posts are moderated
Related Questions
The gross earnings of the factory workers for Vargas Company during the month of January are $66,000. The employer's payroll taxes for the factory payroll are 8,000. The fringe ben

I would like to know the solution on this one.

Types of Overhead Absorption Rate NB: Overheads incurred are generally absorbed on the basis of budgeted or estimated figures. The given basis may be applied leading to the

Assets                                               2011                                                                        2010 Non Current Assets

1.  Prepare a cash flow forecast for the proposal to launch SafeCus in 2010 for a three-year period from 1 January 2010 using the data in the body of the Case Study and discount at

In January 2012, the management of Stefan Company concludes that it has sufficient cash to permit some short-term investments in debt and stock securities. During the year, the fol

Standard Cost and Standard Costing To effectively control the costs of a certain organization, we require a yard stick to measure the real performance against. Traditionally,

Distribution and Selling Cost Budget This is the forecast of all costs incurred in distributing and selling the company's product throughout the budget period. This is closel

annual usage rs 160000@ 40 per unit, cost of placing and receiving one order rs 200:annual carrying cost ; 25% of inventory value

Division B uses  normal  costing in its job-order costing system, with manufacturing overhead  applied  based on direct labour hours.  You have obtained the following information a