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Question No 27 Chapter No 16 - USHA Publication 11 Class

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Question No 27 Chapter No 16

Recertification after the Preparation of Trail Balance but before Final Account

Single Account Errors

27. Pass the rectification entries and show the suspense account in the books of a partnership firm, from the following particulars :
(a) The total of sales returns day book was overcast by 1.000.
(b) Purchase of equipment, from Raj Mohan & Co., worth 2.000, in cash, was entree through the purchase day book and accordingly, credited to the supplier's account.
(c) Discount 500 allowed by P. Sahoo, a creditor, has not been entered in the books account.
(d) 350 paid for carriage on sale of goods was credited to carriage inward account who posted from the cash book.
(e) Bill receivable worth 1,800 received from a debtor was entered in the bills payable book though correctly entered in the debtor's account.
(f) A sum of 2,500 collected from Sunil Kumar, a debtor, whose dues were already written off as bad debt, was posted to the credit side of Suraj Singh account.
(g) Goods worth 1,500 bought by the partner V.K. Singh for his personal use with any payment being made as yet, was wrongly entered in the purchase day book.

The solution of Question No 27 Chapter No 16:-

Journal

Date	Particulars		Debit	Credit

(a)	Suspense A/c	Dr.	1,000
	To Sale Retune A/c			1,000
	(Being sale return book overcast now corded.)

(b)	Supplier’s A/c	Dr.	2,000
	Equipment A/c	Dr.	2,000
	To Purchases A/c			2,000
	To Cash A/c			2,000
	(Being purchases of equipment passed through purchase book now corrected.)

(c)	P. Sahoo A/c	Dr.	500
	To discount receivable A/c			500
	(Being discount received recorded in book .)

(d)	Carriage Outward A/c	Dr.	350
	Carriage Inward A/c	Dr.	350
	To Suspense A/c			700
	(Being carriage on sale wrongly credited in carriage inward account now corrected.)

(e)	Bill Payable A/c	Dr.	1,800
	Bill Receivable A/c	Dr.	1,800
	To Suspense A/c			3,600
	(Being B/R treated as B/P now corrected.)

(f)	Suraj Singh A/c	Dr.	2,500
	To Bad Debts A/c			2,500
	(Being bad debts recovered wrongly credited in debtors account now corded.)

(g)	Supplier’s A/c	Dr.	1,500
	To Purchases A/c			1,500
	(Being salivate purchases wrongly recorded in book corrected )

Particulars	Amount	Particulars	Amount
Suspense A/c			Cr.
To Sale return A/c	1,000	By Carriage outward A/c	350
To Balance c/d	3,300	By Carriage Inward A/c	350
		By Bill Payable A/c	1,800
		By Bill Receivable A/c	1,800

	4,300		4,300