The book of Deven Verma could not be tallied. The ac, Accounting Standards

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:- The book of Deven Verma could not be tallied. The ac

Machine installments.., i buy machine 70% cash 30% installments.i have char...

i buy machine 70% cash 30% installments.i have charged 100% cost to asset and capital so when i pay first installment i debit installment expense and credit bank so my question is

Advance accounting, journal entry and balance sheet for acquisition

journal entry and balance sheet for acquisition

#titISA 8le.., #question STATEMENT OF COMPERIHENSIVE INCOME

#question STATEMENT OF COMPERIHENSIVE INCOME

What type of an asset is goodwill, What kinds of risks does a firm like Ama...

What kinds of risks does a firm like Amazon.com face with respect to safeguarding its assets? What types of controls do you think it already has in place to minimize these risks? G

When do I have to book a multi-year pledge, Hi, I work at a non-profit tha...

Hi, I work at a non-profit that recently received a $250,000 stock donation which is payment for a $1M pledge. The donor has written in an e-mail that he would like to give us th

Data attributes for every entity, Make a new information system for this co...

Make a new information system for this company. Your solution should contain the following items: 1.  An overview of the primary features of the new system, describing why this

ASC 905 and IAS 41, Review and discuss what the general rules are for agric...

Review and discuss what the general rules are for agricultural produce using US GAAP and IFRS.

Determine the accounts payable days, SQB Corporation reports sales of $10,0...

SQB Corporation reports sales of $10,000,000 for Year 2, with a gross profit margin of 40%.  20% of SQB's sales are on credit.       Year 1 Year 2

Explain how the use of environmental accounting can help, QUESTION An i...

QUESTION An important function of Environmental Accounting is to bring environmental costs to the attention of corporate stakeholders who may be motivated to identify ways of r

Balance sheet, Balance sheet is related along with reporting the financial ...

Balance sheet is related along with reporting the financial position of an entity on a specific point in time. Such position is conveyed in terms of listing all the things of value

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