Rectify the following errors assuming that suspension account was opened. Ascertain the difference in trial balance. (a)
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Rectify the following errors assuming that suspension account was opened. Ascertain the difference in trial balance.
(a) Furniture purchased for ₹ 10,000 wrongly debited to purchase account as ₹ 4,000.
(b) Machinery purchased on credit from Raman for ₹ 20,000 recorded through Purchases Book as ₹ 6,000.
(c) Repairs on machinery ₹ 1,400 debited to Machinery account as ₹ 2,400.
(d) Repairs on overhauling of second hand machinery purchased ₹ 2,000 was debited to Repairs account as ₹ 200.
(e) Sale of old machinery at book value ₹ 3,000 was credited to sales account as ₹ 5,000.
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Related Book For
Accountancy Financial Accounting Part 1 Textbook For Class 11
ISBN: 9788174505071
1st Edition
Authors: NCERT
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