Question No 29 Chapter No 16

Question No 29 Chapter No 16

Credit Balance in Suspense Account

29. How would you rectify the following errors discovered after preparation of trial balance?
(a) An amount of 30 representing cash discount allowed by J.J. Singh on payment of his account stands debited to his account in the ledger, but is not shown in the discount column against payment entry in the cash book.
(b) An item 400 for purchase of office furniture has been passed through purchase book.
(c) An amount of 210.30 for a credit sale to Ramesh although correctly entered in the sales book has been wrongly posted as 230.10.
(d) A credit purchase of goods amounting to 250 from , Iqbal Singh has been omitted to be passed through the invoice book, but the payment made subsequently stand debited to his account.
(e) A credit purchase of goods for 19.20 from Manoj Kumar correctly entered in the invoice book has been wrongly posted as 13.80 to the credit of Manoj Kumar.


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The solution of Question No 29 Chapter No 16:-

Date  Particulars
(a)Suspense A/cDr. 30 
 To Discount Received A/c   30
 (Being discount received being unposted now posted.)    
(b)Furniture A/cDr. 400 
 To Purchase A/c   400
 (Being purchases of furniture wrongly passed through purchase book, corrected.)    
(c)Suspense A/cDr. 1,980 
 To R’s A/c   1,980
 (Being excess debited being corrected.)    
(d)Purchases A/cDr. 250 
 To Santosh A/c   250
 (Being B/R being treated as B/P now corrected.)    
(e)Suspense A/cDr. 540 
 To Manoj A/c   540
 (Being amount less credited to Manoj account now corrected.)    



Error Rectification in accounting – Explanation with examples

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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. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

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