Question No 23 Chapter No 16
Recertification after the Preparation of Trail Balance but before Final Account
Single Account Errors
23. The Book-Keeper of Amritsar Fast Food Centre having failed to agree the Trial Balance transferred the excess of credit over the debit to Suspense Account. The difference was ?. 120. The following errors were subsequently discovered :
(a) A cheque of Rs 650 received from Amrit having been dishonoured was wrongly debite to Allowances Account.
(b) The discount colum of Cash Book representing discount allowed to customers for the month of December was over added by Rs 120.
(c) Sales Returns of Rs 200 from Babu Ram was omitted to be posted to his account.
(d) The credit side of Kunal’s account had been overcast by Rs 40.
(e) Cash sales Rs 800 has been recorded in the sales book.
(f) The total of Purchase Book was undercast by Rs 400.
(g) Purchase Returns Rs 1,000 to Meera was omitted from books.
Rectify the above errors and prepare a Suspense Account.
The Content covered in this article:
The solution of Question No 23 Chapter No 16:-
|To Allowance A/c||650|
|(Being cheque dishonoured wrongly debited to allowance account now corded.)|
|To Discount allowed A/c||120|
|(Being discount overacted now corded.)|
|To Babu Ram A/c||200|
|(Being sale retune omitted from being posted in a personal account now corded.)|
|To Suspense A/c||40|
|(Being Kunal account being over cast now corrected )|
|To Suspense A/c||800|
|(Being cash sale being treated as credit sale.)|
|To Suspense A/c||400|
|(Being purchases book over cash now corded.)|
|To Purchases return A/c||1,000|
|(Being purchases retune omitted for Book now corded.)|
|To Discount A/c||120||By Kunal A/c||40|
|To babu Ram A/c||200||By Purchase A/c||400|
|To Balance c/d||20|
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Also, Check out the solved question of all Chapters: –
Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
Chapter No. 3 – Origin of Transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)