Chapter 17 – Rectification Of Errors – TS Grewal 2022
Preparation of Suspense Account
Question 43
Q43. Trial Balance of a bookkeeper shows an excess of debits over credits by 261. This difference is placed in a Suspense Account to facilitate books closure. Later on the following errors were discovered:
(i) A credit item of 349 has been debited to a Personal Account as 439.
(ii) A sum of 625 written off from fixtures as depreciation has not been posted to the Depreciation Account.
(iii) 9,000 paid for furniture bought have been charged to the Purchases Account.
(iv) A discount allowed to a customer has been credited to him as 145 in place of 154.
(v) A sale of 594 was posted as ` 495 in the Sales Account.
(vi) The total of Returns Inward Book has been added 10 short.
Pass the Journal entries to correct these errors and prepare the Suspense Account.
Solution
Trial Balance of a bookkeeper – Q43
