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Question 8 Chapter 10 – Unimax Publications of Class 11
Give journal entries to correct these errors and prepare the suspense account. How would you rectify the following errors?
(1) Amount received from A ₹ 200 is debited to his account in ledger.
(2) Purchases book is overcast by ₹ 100.
(3) ₹ 500 paid for furniture purchases charged to purchases account.
(4) Goods returned by a customer are valued at ₹ 97 but in the returns inward book the amount is wrongly entered ₹ 79.
(5) A sum of ₹ 600 paid by way of rent has been debited to landlord’s personal account.
The solution of Question 8 Chapter 10 – Unimax Publications of Class 11
| Journal | ||||||
| Date | Particulars | L.F. | Debit | Credit | ||
| 2019 | ||||||
| Dec.31 | ||||||
| 1 | Suspense A/c | Dr. | 400 | |||
| To A’s A/c | 400 | |||||
| (Being received from A is debited to his a/c, now rectified) | ||||||
| 2 | Suspense A/c | Dr. | 100 | |||
| To Purchases A/c | 100 | |||||
| (Being purchases book overcast, now rectified) | ||||||
| 3 | Furniture A/c | Dr. | 500 | |||
| To Purchases A/c | 500 | |||||
| (Being furniture purchases charged to purchases a/c, now rectified) | ||||||
| 4 | Returns inwards A/c | Dr. | 18 | |||
| To Customer’s A/c | 18 | |||||
| (Being goods returned by customer of ₹ 97 but recorded as ₹ 79, now rectified) | ||||||
| 5 | Rent A/c | Dr. | 600 | |||
| To Landlord’s A/c | 600 | |||||
| (Being rent debited to landlord’s a/c, now rectified) | ||||||
| Dr. | Suspense A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| To A’s A/c | 400 | By Difference in suspense A/c | 500 | ||||
| To Purchases A/c | 100 | ||||||
| 500 | 500 | ||||||
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