acoounts, Financial Accounting

Assignment Help:
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.

Related Discussions:- acoounts

What is accounting and book keeping, Question 1 What is accounting and boo...

Question 1 What is accounting and book keeping? Explain the objectives of accounting? Question 2 Explain GAAP and write down the relationship between accounting principles, a

Case law about investment, If you inherited $45,000 today and invested all ...

If you inherited $45,000 today and invested all of it in a security that paid a 7 percent rate of return, how much would you have in 25 years?

Hazards of making payments out of reserves, If dividends per share are in s...

If dividends per share are in surplus of earnings per share then a company must be making the dividend payment out of reserves. In other sense the net asset value of the business w

Balance Sheet & Statement of Cash Flows, I need some guidance in how certai...

I need some guidance in how certain events are to be recorded on both the balance sheet and statement of cash flows.

Excel., prepare an balance sheet

prepare an balance sheet

System one-the head office maintains all the accounts, SYSTEM ONE-THE HEAD ...

SYSTEM ONE-THE HEAD OFFICE MAINTAINS ALL THE ACCOUNTS This system is suitable for an enterprise that has small branches (possibly in another area of the town or city where the

Inventory management, Most firms build and keep inventories in the course o...

Most firms build and keep inventories in the course of doing business. Manufacturing firms hold raw material, finished goods and spares and work in process in inventories. Financia

Present value of an uneven series, In actual life cash flows occurring abov...

In actual life cash flows occurring above a period of time are frequently uneven. For illustration, the dividends declared through the companies will change from year to year, as s

Describe the effects of each transaction on assets, KAM Computer Timeshare ...

KAM Computer Timeshare Company entered into the following transactions durnig May 2014 Decribe the effects of each transaction on assets, liabilities, and owner's equity. 1. Purcha

Create multiple portfolios standard and poor mid cap, In this project you w...

In this project you will use your many skills to create multiple portfolios, using the Standard and Poor's Mid Cap 400 as your dataset. First, construct an index fund using a st

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd