Rectify the following errors assuming that suspense account was opened. Ascertain the difference in trial balance. 1. Credit sales to Mohan ₹ 7,000 were recorded in Purchase Book. However, Mohan’s account was correctly debited. 2. Credit purchases from Rohan ₹ 9,000 were recorded in sales book. However, Rohan’s account was correctly credited. 3. Goods returned to Rakesh ₹ 4,000 were recorded in sales return book. However, Rakesh’s account was correctly debited. 4. Goods returned from Mahesh ₹ 1,000 were recorded through purchases return book. However, Mahesh’s account was correctly credited. 5. Goods returned to Naresh ₹ 2,000 were recorded through purchases book. However, Naresh’s account was correctly debited.

Rectify the following errors assuming that suspense account was o…

Question

Rectify the following errors assuming that suspense account was opened. Ascertain the difference in trial balance.

Credit sales to Mohan ₹ 7,000 were recorded in Purchase Book. However, Mohan’s account was correctly debited.
Credit purchases from Rohan ₹ 9,000 were recorded in sales book. However, Rohan’s account was correctly credited.
Goods returned to Rakesh ₹ 4,000 were recorded in sales return book. However, Rakesh’s account was correctly debited.
Goods returned from Mahesh ₹ 1,000 were recorded through purchases return book. However, Mahesh’s account was correctly credited.
Goods returned to Naresh ₹ 2,000 were recorded through purchases book. However, Naresh’s account was correctly debited.

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Started business with cash ₹ 75,000 and goods ₹ 25,000.
Paid for Rent ₹ 2,000.
Bought goods for cash ₹ 30,000 and on credit for ₹ 44,000.
Goods costing ₹ 50,000 sold at a profit of 25%, out of which ₹ 27,500 received in Cash.
Purchased a Motor-cycle for personal use ₹ 20,000.

Purchased goods of list price of ₹ 20,000 from Vishal at 20% trade discount against cheque payment.
Purchased goods of list price of ₹ 20,000 from Naman at 15% trade discount against cash.
Purchased goods of list price of ₹ 30,000 from Amrit at 20% trade discount.
Purchased goods of list price of ₹ 40,000 for ₹ 35,000 for cash.
Goods returned of list price ₹ 10,000 purchased from Amrit.
Sold goods to Parul of list price of ₹ 40,000 at 10% trade discount against cheque payment.
Sold goods to Aman of list price of ₹ 30,000 at 10% trade discount against cash.
Sold goods to Pawan of list price of ₹ 20,000 at 10% trade discount.
Sold goods to Yamini of list price of ₹ 25,000 for ₹ 23,000.
Sold goods costing ₹ 10,000 at cost plus 20% less 10% trade discount to Bhupesh.
Sold goods purchased at list price of ₹ 50,000 less 15% trade discount sold at a profit of 25% less 10% trade discount against cheque.
Aman returned goods of list price of ₹ 10,000 sold to him at 10% trade discount.

Bank Pass Book showed an overdraft of ₹ 16,500 on 31st October.
Interest of ₹ 1,250 on overdraft up to 31st October, 2018 has been debited in the Bank Pass Book but it has not been entered in the Cash Book.
Bank charges debited in the Bank Pass Book amounted to ₹ 35.
Cheques issued prior to 31st October, 2018 but not presented till that date, amounted to ₹ 11,500.
Cheques paid into bank before 31st October, but not collected and credited up to that date, were for ₹ 2,500.
Interest on investment collected by the bankers and credited in the Bank Pass Book amounted to ₹ 1,800.

Cheques paid into Bank ₹ 8,000, but out of these only cheques of ₹ 6,500 were cleared and credited by the Bankers upto 30th June.
Cheques of ₹ 9,200 were issued but out of these only cheques of ₹ 7,000 were presented for payment upto 30th June.
The receipt column of the Cash Book has been undercast by ₹ 200.
The Pass Book shows a credit of ₹ 330 as interest on investments collected by bankers and debit of ₹ 60 for bank charges.
On 29th June a Customer deposited ₹ 3,000 direct in the bank account but it was entered only in the Pass Book.