Question No 30 Chapter No 16

Question No 30 Chapter No 16

Credit Balance in Suspense Account

 30. Rectify the following errors in the books of Avadh Bihari:
(i) Purchase of goods form Raza Murad for Rs 25,000 plus 9% CGST and 9% SGST was recorded in the sales book. However, Raza Murad ‘s account is correctly posted__
(ii) Goods of the sales value 5,000 plus 9% CGST and 9% SGST were returned by Rajinder Prasad not recorded in the books.
(iii) Furniture purchased for 11,000 plus 6% CGST and 6% SGST from Shekh Ali not posted to his account.
(iv) Sale of goods for 14,000 plus 6% CGST and 6% SGST to Rukhsana was recorded”‘ without GST.
(v) Stationery purchased in cash for 7,000 plus 6% CGST and 6% SGST not posted.
(vi) Commission due but not received 12,000 was recorded without 6% CGST and 6% SGST. (vii) Output IGST 1,800 on sales debited to Output IGST Account.

 

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The solution of Question No 30 Chapter No 16:-

Journal
Date  Particulars
L.F.DebitCredit
      
(i)Purchases A/cDr. 22,000 
 Input CGST A/cDr. 2,250 
 Input SGST A/cDr. 2,250 
 To Suspense A/c   26,500
 (Being purchase not enter in the book now posted.)    
      
 Suspense A/cDr. 26,500 
 To Sale A/c   22,000
 To Output CGST A/c   2,250
 To Output SGST A/c   2,250
 (Being sale not enter in book now posted.)    
      
(ii)Sale Retune A/cDr. 5,000 
 Output CGST A/cDr. 450 
 Output SGST A/cDr. 450 
 To Rajinder A/c   5,900
 (Being sale retune not recorded in book now recorded .)    
      
(iii)Suspense A/cDr. 12,320 
 To Shekh Ali A/c   12,320
 (Being purchased furniture not posted to Shekh account corrected.)    
      
(iv)Purchases A/cDr. 1,680 
 To Output CGST A/c   840
 To Output AGST A/c   840
 (Being GST not recorded in account now recorded.)    
      
(v)Stationery A/cDr. 7,000 
 Input CGST A/cDr. 420 
 Input SGST A/cDr. 420 
 To Manoj A/c   7,840
 (Being purchases of stationery not recorded in book now recorded .)    
      
(vi)Input CGST A/cDr. 420 
 Input SGST A/cDr. 420 
 To Commission accrued A/c   840
 (Being amount of GST not recorded in commission now recorded .)    
      
(vii)Suspense A/cDr. 3,600 
 To Output IGST A/c   3,600
 (Being excess debited being 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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