Q.The trial balance of Zoon Ltd.Shows a difference of Rs.1270 which is debited to suspense account.The following errors are discovered.You are required to correct the errors and prepare the suspense account.

i.The totl of the return outward books Rs.210 has not been posted in ledger.
ii.A purchase of Rs.400 from majid has been entered in to the sale book.However the majid account has been correctly credited.
iii.A sale of Rs.430 to rehman has been credited in his account as Rs.340.
iv.A sale of Rs.296 to karim has been entered in the sale book as Rs.269.
v.Old furniture sold for Rs.540 has been entered in the sale account as Rs.450.
vi.Goods taken by the properitor Rs.100 have not been entered in the books at will.

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Originally Posted by weedi

Q.The trial balance of Zoon Ltd.Shows a difference of Rs.1270 which is debited to suspense account.The following errors are discovered.You are required to correct the errors and prepare the suspense account.

i.The totl of the return outward books Rs.210 has not been posted in ledger.
ii.A purchase of Rs.400 from majid has been entered in to the sale book.However the majid account has been correctly credited.
iii.A sale of Rs.430 to rehman has been credited in his account as Rs.340.
iv.A sale of Rs.296 to karim has been entered in the sale book as Rs.269.
v.Old furniture sold for Rs.540 has been entered in the sale account as Rs.450.
vi.Goods taken by the properitor Rs.100 have not been entered in the books at will.

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It seems you have a dyslexic employee but you need to do some more work
Lay out your journal entries and we will tell you if you are right

On December 31, 2013, before adjusting entries, the balances of selected accounts of the Oceanfront Equipment Company were as follows:


Accounts Receivable 913,000
Allowance for Uncollectible Accounts (debit balance) 1,300 dr.

What are we expected to conclude from this?