Rectify the following errors assuming that suspense account was opened. Ascertain the difference in trial balance. (a)
Question:
Rectify the following errors assuming that suspense account was opened. Ascertain the difference in trial balance.
(a) Depreciation provided on machinery ₹ 4,000 was not posted to Depreciation account.
(b) Bad debts written-off ₹ 5,000 were not posted to Debtors account.
(c) Discount allowed to a debtor ₹ 100 on receiving cash from him was not posted to discount allowed account.
(d) Goods withdrawn by proprietor for personal use 800 were not posted to Drawings account.
(e) Bill receivable for ₹ 2,000 received from a debtor was not posted to Bills receivable account.
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To rectify the errors and ascertain the difference in the trial balance we need to identify the acco...View the full answer
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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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