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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Question No 31 Chapter No 17
31. Trial Balance of a bookkeeper shows an excess of debits over credits by 261. This difference is placed in a Suspense Account to facilitate books closure. Later on the following errors were discovered:
(i) A credit item of 349 has been debited to a Personal Account as 439.
(ii) A sum of 625 written off from fixtures as depreciation has not been posted to the Depreciation Account.
(iii) 9,000 paid for furniture bought have been charged to the Purchases Account.
(iv) A discount allowed to a customer has been credited to him as 145 in place of 154.
(v) A sale of 594 was posted as 495 in the Sales Account.
(vi) The total of Returns Inward Book has been added 10 short.
Pass the Journal entries to correct these errors and prepare the Suspense Account.
The solution of Question No 31 Chapter No 16:-
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| i | Suspense A/c | Dr. | 788 | ||
| To Personal A/c | 788 | ||||
| (Being Credit item was wrongly debited to a Personal Account, now rectified) | |||||
| ii | Depreciation A/c | Dr. | 625 | ||
| To Suspense A/c | 625 | ||||
| (Being Purchases Return Rs 100 was wrongly debited to Purchases Account, now rectified) | |||||
| iii | Furniture A/c | Dr. | 9,000 | ||
| To Purchases A/c | 9,000 | ||||
| (Being Purchase of Furniture was wrongly charged to Purchases Account, now rectified) | |||||
| iv | Suspense A/c | Dr. | 9 | ||
| To Customer | 9 | ||||
| (Being Discount allowed to Customer Rs 154 was Credited wrongly as Rs 145, now rectified) | |||||
| v | Suspense A/c | Dr | 99 | ||
| To Sales A/c | 99 | ||||
| (Being Sale of Rs 594 was wrongly posted as Rs 495, now rectified) | |||||
| vi | Return Inwards A/c | Dr. | 10 | ||
| To Suspense A/c | 10 | ||||
| (Being Return Inwards Book was undercast, now rectified) | |||||
| Dr. | Suspense Account | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
|---|---|---|---|---|---|---|---|
| (i) | Personal | 788 | Balance b/d | 261 | |||
| (iv) | Customer | 9 | (ii) | Depreciation | 625 | ||
| (v) | Sales | 99 | (vi) | Return Inwards | 10 | ||
| 896 | 896 | ||||||
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T.S. Grewal's Double Entry Book Keeping
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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