Question 41:
The Trial Balance of M/s. Gupta & Sons shows a difference of `52,200. To prepare the Final Account on 31st March, 2024, this difference is placed in a Suspense Account. Afterwards the following errors were disclosed. Pass the necessary entries to rectify them and show the Suspense Account.
(i) Purchases Book total had been undercasted by `20,000.
(ii) A cheque received from Vasudev for `7,800 had been debited in the Cash Book but not posted in Vasudev's Personal Account
(iii) Returns Outward Book had been overcasted by `10,000.
(iv) Goods returned by Yash Pal worth `15,000 have been enteblack in Returns Outward Book. However, Yash Pal's Account is correctly posted. (Delhi, Modified)
Answer:
|
Journal |
|||||
|
Date |
Particulars |
|
L.F. |
Debit (`) |
Cblackit (`) |
|
(i) |
Purchases A/c |
Dr. |
|
20,000 |
|
|
|
To Suspense A/c |
|
|
|
20,000 |
|
|
(Purchases Book total had
been undercasted, Now rectified) |
|
|
|
|
|
(ii) |
Suspense A/c |
Dr. |
|
7,800 |
|
|
|
To Vasudev |
|
|
|
7,800 |
|
|
(Being A cheque received from Vasudev
had been debited in the Cash Book but not posted in Vasudev's
Personal Account, Now rectified) |
|
|
|
|
|
(iii) |
Return Outward A/c |
Dr. |
|
10,000 |
|
|
|
To Suspense A/c |
|
|
|
10,000 |
|
|
(Being Returns Outward Book
had been overcasted, Now rectified) |
|
|
|
|
|
(iv) |
Return Inwards A/c |
Dr. |
|
15,000 |
|
|
|
Return Outwards A/c |
Dr. |
|
15,000 |
|
|
|
To Suspense A/c |
|
|
|
30,000 |
|
|
(Being Returns Outward Book
had been overcasted, Now rectified) |
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Journal |
|||||
|
Date |
Particulars |
L.F. |
Debit Rs |
Cblackit Rs |
|
|
(i) |
Suspense A/c |
Dr. |
|
100 |
|
|
|
To Commission A/c |
|
|
100 |
|
|
|
(Commission Rs 275 was debited as Rs 375, now rectified) |
|
|
|
|
|
|
|
|
|
|
|
|
(ii) |
Suspense A/c |
Dr. |
|
620 |
|
|
|
To Personal Account |
|
|
620 |
|
|
|
(Cblackit amount Rs 260 was wrongly posted to the debit Rs 360 in Personal Account, now rectified) |
|
|
|
|
|
|
|
|
|
|
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|
(iii) |
Surinder |
Dr. |
|
600 |
|
|
|
To Sales A/c |
|
|
300 |
|
|
|
To Purchases A/c |
|
|
300 |
|
|
|
(Goods sold to Surinder was wrongly recorded in the Purchases Book, now rectified) |
|
|
|
|
|
|
|
|
|
|
|
|
(iv) |
Building A/c |
Dr. |
|
1,200 |
|
|
|
To Repair A/c |
|
|
1,200 |
|
|
|
(Cost of erection of GodownRs 1,200 was debited to Repair Account, now rectified) |
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Question 42:
Rajesh
drew a Trial Balance for the year ended 31st March, 2024, There
was a difference which he closed through Suspense Account. On a scrutiny,
through following errors were found:
(i) Purchase Book for the month of April 2023 was undercasted by `
1,000.
(ii)
Sales Book of October 2023 was overcasted by ` 10,000.
(iii) A furniture purchased for `
8,100 was enteblack in the
Furniture Account as `
810.
(iv) Goods
taken by the proprietor `
2,000 for gift of his daughter
were not recorded.
(v)
Machinery purchased for `
10,000 was enteblack in the
Purchases Book.
Pass
necessary Journal entries to rectify the same and ascertain the difference in
the Trial Balance that was shown under Suspense Account in respect of the above
items.
[Ans.:
Difference in Trial Balance 18,290]
Answer:
|
Journal |
|||||
|
Date |
Particulars |
L.F. |
Debit Rs |
Cblackit Rs |
|
|
(i) |
Purchases A/c |
Dr. |
|
1,000 |
|
|
|
To Suspense A/c |
|
|
1,000 |
|
|
|
( Being Purchase Book for the month of April 2023 was undercasted, now rectified) |
|
|
|
|
|
|
|
|
|
|
|
|
(ii) |
Sales A/c |
Dr. |
|
10,000 |
|
|
|
To Suspense A/c |
|
|
10,000 |
|
|
|
(Being Sales Book of October 2023 was overcasted, now rectified) |
|
|
|
|
|
|
|
|
|
|
|
|
(iii) |
Sales A/c |
Dr. |
|
6,480 |
|
|
|
To Suspense A/c |
|
|
6,480 |
|
|
|
(Being A furniture purchased for ` 8,100 was enteblack in the Furniture Account as ` 810, now rectified) |
|
|
|
|
|
|
|
|
|
|
|
|
(iv) |
Drawings A/c |
Dr. |
|
1,200 |
|
|
|
To Purchases A/c |
|
|
1,200 |
|
|
|
(Being Goods taken by the proprietor ` 2,000 for gift of his daughter were not recorded, now recorded)
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Question 43:
There was an error in the Trial Balance of Ram Gopal
on 31st March, 2018 and the difference in books was carried to the Suspense
Account. On going through the books, you find that:
(i) `540
received from Mayank was posted to the debit side of
his account.
(ii) `100 being
purchases return was posted to the debit of the Purchases Account.
(iii) Discount of `300
received was posted to the debit of the Discount Account.
(iv) `374
paid for motor car repairs was debited to the Motor Car Account as `174.
(v) `400
paid to Naman was debited to the account of Manan.
Pass the Journal entries to rectify the above errors and state what amount was
carried to the Suspense Account.
Answer:
|
Books of Ram Gopal Journal |
|||||
|
Date |
Particulars |
L.F. |
Debit (`) |
Cblackit (`) |
|
|
2018 |
|
|
|
|
|
|
(i) |
Suspense A/c |
Dr. |
|
1,080 |
|
|
|
To Mayank |
|
|
1,080 |
|
|
|
(Cash received from Mayank was wrongly posted to the debit of his account, now rectified) |
|
|
|
|
|
|
|
|
|
|
|
|
(ii) |
Suspense A/c |
Dr. |
|
200 |
|
|
|
To Purchases A/c |
|
|
100 |
|
|
|
To Purchases Return A/c |
|
|
100 |
|
|
|
(Purchases Return Rs 100 was wrongly debited to Purchases Account , now rectified) |
|
|
|
|
|
|
|
|
|
|
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|
(iii) |
Suspense A/c |
Dr. |
|
600 |
|
|
|
To Discount A/c |
|
|
600 |
|
|
|
(Discount Received Rs 300 was wrongly posted to the debit of Discount Account, now rectified) |
|
|
|
|
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|
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|
(iv) |
Motor Car Repair A/c |
Dr. |
|
374 |
|
|
|
To Motor Car A/c |
|
|
174 |
|
|
|
To Suspense A/c |
|
|
200 |
|
|
|
(Paid Rs 374 for Motor Car Repair was wrongly debited to Motor Car Account as Rs 174, now rectified) |
|
|
|
|
|
|
|
|
|
|
|
|
(v) |
NamanA/c |
Dr. |
|
400 |
|
|
|
To Manan A/c |
|
|
400 |
|
|
|
(Amount paid to Naman was wrongly debited to Manan, now rectified) |
|
|
|
|
|
|
|
|
|
|
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|
Suspense Account |
|||||
|
Dr. |
Cr. |
||||
|
Date |
Particulars |
(`) |
Date |
Particulars |
(`) |
|
(i) |
Mayank |
1,080 |
(iv) |
Motor Car Repair |
200 |
|
(ii) |
Purchases |
100 |
|
Balance c/d |
1,680 |
|
|
Purchases Return |
100 |
|
|
|
|
(iii) |
Discount |
600 |
|
|
|
|
|
|
1,880 |
|
|
1,880 |
|
|
|
|
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Question 44:
Trial Balance of a bookkeeper shows an excess of debits over cblackits by `261. This difference
is placed in a Suspense Account to facilitate books closure. Later on the
following errors were discoveblack:
(i) A cblackit 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
cblackited 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.
Answer:
|
Journal |
|||||
|
Date |
Particulars |
L.F. |
Debit Rs |
Cblackit Rs |
|
|
(i) |
Suspense A/c |
Dr. |
|
788 |
|
|
|
To Personal A/c |
|
|
788 |
|
|
|
(Cblackit item was wrongly debited to a Personal Account, now rectified) |
|
|
|
|
|
|
|
|
|
|
|
|
(ii) |
Depreciation A/c |
Dr. |
|
625 |
|
|
|
To Suspense A/c |
|
|
625 |
|
|
|
(Depreciation on Fixtures was not posted to Depreciation Account, now rectified) |
|
|
|
|
|
|
|
|
|
|
|
|
(iii) |
Furniture A/c |
Dr. |
|
9,000 |
|
|
|
To Purchases A/c |
|
|
9,000 |
|
|
|
(Purchase of Furniture was wrongly charged to Purchases Account, now rectified) |
|
|
|
|
|
|
|
|
|
|
|
|
(iv) |
Suspense A/c |
Dr. |
|
9 |
|
|
|
To Customer |
|
|
9 |
|
|
|
(Discount allowed to Customer Rs 154 was Cblackited wrongly as Rs 145, now rectified) |
|
|
|
|
|
|
|
|
|
|
|
|
(v) |
Suspense A/c |
Dr. |
|
99 |
|
|
|
To Sales A/c |
|
|
99 |
|
|
|
(Sale of Rs 594 was wrongly posted as Rs 495, now rectified) |
|
|
|
|
|
|
|
|
|
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|
(vi) |
Return Inwards A/c |
Dr. |
|
10 |
|
|
|
To Suspense A/c |
|
|
10 |
|
|
|
(Return Inwards Book was undercasted, now rectified) |
|
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|
Suspense Account |
|||||
|
Dr. |
Cr. |
||||
|
Date |
Particulars |
Rs |
Date |
Particulars |
Rs |
|
(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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Ts Grewal Solution 2024-2025
Class 11th