#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
sales to profit volume ratio for three year

It may be dispute that  in a  total quality environment, variance analysis  from a standard costing system is redundant.í Talk about the validity of this statement.

Direct Materials Total Variance Direct materials total variances refer to the difference between the standard direct material cost of the actual production volume and the actu

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

a company has the budget for manufacturing overhead based on direct labor hours. budgeting at 10,000 direct labor hours are as follows. Variable costs= 160000 Fixed Costs

B REAK EVEN ANALYSIS Break even analysis is a broadly used technique to study cost-volume-profit relationship.  It can be explained as - 'a system for determination of that le

Question P A RT A Borrico ltd manufacture a single product and they had currently introduced a system of budgeting and variance analysis. The subsequent information i

Methods of Labour Remuneration There Labour remuneration methods can be broadly classified into two factors as: i. Time rate or on the basis of the time spend in the factor

Atlanta Company stock is expected to follow an exponential growth rate. The relationship between the current stock price P0, future price PT after time T, and the continuously comp

Find Out Overhead Application Rate The given is the budget of Superb Engineering Works for the 2002 year Factory overheads Kshs 62,000