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Needed a Video for suspense account journal entru? Related: What is ...
Rectification Of Accounting Errors. Once an error is located, it should be properly corrected. The correction of accounting errors in a systematic manner is called the rectification of errors. In other words, the process of systematically correcting the accounting errors is known as rectification of errors. sorry friend I have no vedio
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Read the following hypothetical Case Study and answer the given questions:An accountant while balancing his books on 31st December 2016 found that there was a difference of ₹270 in the trial balance. Being required to prepare the final accounts he placed the difference to a newly opened Suspense A/c, which was carried forward to the next year when the following errors were discovered: Salary for the month of March was posted twice ₹155. Interest on investment collected by the bankers, were posted directly in concerned accounts through the pass book, but no entry was made in the bank column of the cash book ₹75. Rent of ₹350 received from Ashok credited both to Rent Account and Ashok Account. A purchase of a chair from Karnal Furniture Mart for ₹65 has been entered in the purchase book as ₹56. Old Machinery sold to the proprietor Keshav for ₹400 was entered in the Sales Book as sale to Kishore. Cash Purchases from Ajay ₹189 were recorded in Cash Book as well as in Purchases Book and posted from both. Closing Stock has been undervalued by ₹300. The Profit & Loss Account disclosed a net profit of ₹15,000 for the year ended 31st March 2016. Q. What will be the rectification entry of the salary for the month of march posted twice?

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Needed a Video for suspense account journal entru? Related: What is Rectification of Errors??
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Needed a Video for suspense account journal entru? Related: What is Rectification of Errors?? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Needed a Video for suspense account journal entru? Related: What is Rectification of Errors?? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Needed a Video for suspense account journal entru? Related: What is Rectification of Errors??.
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