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

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

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:- #title.suspense account, Accounting Basics, Accounting Basic

Interest earned on down payment, You sell a machine for $600,000. You allow...

You sell a machine for $600,000. You allow the client to pay 1/3 at the time of the sale and 1/3 at the end of year one and 1/3 at the end of year two. The company earns 10% on ass

Overhead anaylsis sheet, how do we prepare an overhead analysis sheet when ...

how do we prepare an overhead analysis sheet when the data given is already apportioned

mix and yield component variances, Describe the manner in which a material...

Describe the manner in which a materials usage variance is divided into mix and yield component variances.

Calculate annual revenue, Bentley Plastics Ltd. Has annual fixed cost of $4...

Bentley Plastics Ltd. Has annual fixed cost of $450,000, variable costs of $15 per unit and a contribution rate of 40% a. What annual revenue is required to break even? b.

Absorption of non production overheads in production cost, Absorption of No...

Absorption of Non Production Overheads in Production Cost Product costs may be compiled for a range of purposes including a) Stock valuation b) Product pricing c) Dec

Evaluate the acquisition of manufacturing equipment, Evaluate the Acquisiti...

Evaluate the Acquisition of Manufacturing Equipment XYZ Limited is a medium sized company providing a range of medical solutions. You, the financial manager has been asked to e

Receivables, In most situations this will be essential to grant credit to c...

In most situations this will be essential to grant credit to customers. It may be essential either due to competition or because of the custom of trade. Though, when we grant credi

MARGINAL AND ABSORPTION COSTING, MARGINAL COSTING IS PREFERRED TO ABSORPTIO...

MARGINAL COSTING IS PREFERRED TO ABSORPTION COSTING IN DECISION MAKING WHY

Marginal costing, sums with solution of marginal costing

sums with solution of marginal costing

Net cash inflow, Holmes Electronics' Canadian Branch will help introduce in...

Holmes Electronics' Canadian Branch will help introduce into Canada the just developed new electronic device which, when mounted on an automobile, will tell the driver how many mil

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