A book-keeper of a trading concern having failed to agree the trial balance, opened a suspense account and entered the difference in the trial balance. The following errors were subsequently discovered Goods sold to Manohar for Rs 550 was posted as Rs 5,500. 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 the trial balance, opened a suspense account and entered the difference in the trial balance. The following errors were subsequently discovered Goods sold to Manohar for Rs 550 was posted as Rs 5,500. 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 the trial balance, opened a suspense account and entered the difference in the trial balance. The following errors were subsequently discovered Goods sold to Manohar for Rs 550 was posted as Rs 5,500. 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 the trial balance, opened a suspense account and entered the difference in the trial balance.
The following errors were subsequently discovered
Goods sold to Manohar for Rs 550 was posted as Rs 5,500.
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
Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.
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