Chapter 17 – Rectification Of Errors – TS Grewal 2022
Miscellaneous Transactions
Question 32
Q32. There was a difference in the Trial Balance of M/s. Jain & Sons, prepared for the year ended 31st March, 2009. The accountant put the difference in Suspense Account.
The following errors were found:
(i) Purchases Return Book total 400 has not been posted to Ledger Account.
(ii) 5,100 spent on legal expense for the newly acquired Building was debited to the Building Account as 1,500.
(iii) A sale of 6,540 to Rajat has been credited to his account.
Rectify the errors and show the Suspense Account with Nil closing balance.
Solution
There was a difference in the Trial Balance – Q32
