Chapter 17 – Rectification Of Errors – TS Grewal 2022
Preparation of Suspense Account
Question 40
Q40. There was a difference of 720 in the Trial Balance which has been transferred to the credit side of the Suspense Account. Pass the rectifying entries and prepare a Suspense Account to rectify the following errors:
(i) An amount of 375 now posted on the debit side of the Commission Account instead of 275.
(ii) Credit amount of 260 posted to the debit of the Personal Account as 360.
(iii) Goods sold to Surinder recorded in Purchases Book 300.
(iv) D’s bill for erection of godown at a cost of 1,200 has been charged to the Repairs Account.
Solution
There was a difference – Q40
