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Question 18 Chapter 10 – Unimax Publications of Class 11
Give journal entries necessary to correct these errors and prepare the suspense account. A trial balance disclosed a difference of ₹ 417, placed on credit side of suspense account. Later on following errors were located. Pass rectifying entries and prepare suspense account.
(a) Goods worth ₹ 200 purchased from Sohan has been posted to his account as ₹ 250.
(b) A purchase of furniture for ₹ 500 was recorded in purchases book.
(c) Instead of crediting Gian’s A/c with ₹ 512’ it was debited with ₹ 215.
(d) Goods worth ₹ 130 returned by G were entered in sales book and posted therefrom to credit of G’s personal A/c.
The solution of Question 18 Chapter 10 – Unimax Publications of Class 11
| Journal | |||||
| Date | Particulars | L.F. | Debit | Credit | |
| a. | Sohan’s A/c | Dr. | 50 | ||
| To Suspense A/c | 50 | ||||
| (Being goods of ₹ 200 purchased from Sohan posted to his a/c as ₹ 250, now rectified) | |||||
| b. | Furniture A/c | Dr. | 500 | ||
| To Purchases A/c | 500 | ||||
| (Being furniture purchases recorded in purchases book, now rectified) | |||||
| c. | Suspense A/c | Dr. | 727 | ||
| To Gian’s A/c | 727 | ||||
| (Being instead of crediting Gian’s a/c wrongly debited, now rectified) | |||||
| d. | Sales return A/c | Dr. | 130 | ||
| Sales A/c | Dr. | 130 | |||
| To Suspense A/c | 260 | ||||
| (Being goods returned by G entered in sales book, now rectified) | |||||
| Dr. | Suspense A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| To Gain’s A/c | 727 | By Balance b/d | 417 | ||||
| By Sohan’s A/c | 50 | ||||||
| By Sales A/c | 130 | ||||||
| By Sales returns A/c | 130 | ||||||
| 727 | 727 | ||||||
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