A book-keeper of a trading concern having failed to agree to the trial balance opened a suspense account and entered the difference in the trial balance. The following errors were subsequently discovered. (i) Goods sold to Manohar for Rs. 550 was posted as Rs. 5,500 in Manohar's account. (ii) Purchases return book was carried forward as Rs. 1,220 instead of Rs. 1,120. You are required to pass the journal entries for rectification of the above errors.
A book-keeper of a trading concern having failed to agree to the trial balance opened a suspense account and entered the difference in the trial balance. The following errors were subsequently discovered. (i) Goods sold to Manohar for Rs. 550 was posted as Rs. 5,500 in Manohar's account. (ii) Purchases return book was carried forward as Rs. 1,220 instead of Rs. 1,120. You are required to pass the journal entries for rectification of the above errors.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A book-keeper of a trading concern having failed to agree to the
The following errors were subsequently discovered.
(i) Goods sold to Manohar for Rs. 550 was posted as Rs. 5,500 in Manohar's account.
(ii) Purchases return book was carried forward as Rs. 1,220 instead of Rs. 1,120.
You are required to pass the
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