suspense account, Accounting Basics, Accounting Basics

suspense account, Accounting Basics, Accounting Basics

Assignment Help:

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.

Related Discussions:- suspense account, Accounting Basics

Financial statements in european countries, Q. Financial statements in Euro...

Q. Financial statements in European countries? In a few European countries the financial statements contain secret reserves. These secret reserves occur from a company not repo

Carriage outwards, Define Carriage outwards.

Define Carriage outwards.

Ethics on reconstruction of accounts, If a customer payment data was lost a...

If a customer payment data was lost and needed to be reconstructed what are some of the ethical considerations the business owner would need to consider? This may include internal

Quote please, Hi there, I was just wondering I''m not to sure how to descri...

Hi there, I was just wondering I''m not to sure how to describe my assignment, the subject is ACCOUNTING for university level... and it is 100 Level never don''t this paper in high

Explain about realization principle, Q. Explain about realization principle...

Q. Explain about realization principle? Realization of revenue Under the realization principle the accountant doesn't recognize (record) revenue until the seller obtains the ri

The formula for computing additional paid-in capital, The formula for compu...

The formula for computing additional paid-in capital in excess of par is shares of stock times Saturday

Code of ethics for auditor, The following situations involve a possible vio...

The following situations involve a possible violation of the MIA ByLaws (on professional ethics, conduct and practice). For each situation, (1) decide whether or not the Code has b

Meaning of invoice?, Invoice is a text which haves the under mentioned deta...

Invoice is a text which haves the under mentioned details compulsorily. 1. Invoice Number 2. Name and address of the person 3. Invoice date Name and address of someone

Fundermentals of accounting, differenciate between a cash book and a ledger...

differenciate between a cash book and a ledger

Gold is what asstes, go

go

Write Your Message!

Name

Email id

Message

Verfication Code

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!

Submit Assignment

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