CA Foundation Exam > CA Foundation Questions > The total of debit and credit side of Mr. Ram...
Start Learning for Free
The total of debit and credit side of Mr. Ram‟s Trial balance as on 31st March, 2010 were Rs. 40,000 and Rs. 20,000 respectively. The difference was transferred to suspense A/c. On 4th April 2010, it was found that the total of sales book was carried forward as 10,000 instead of 8,000. The balance of suspense A/c after rectification of this error will be - (a) Rs. 22,000 (b) Rs. 20,000 (c) Rs. 18,000 (d) Rs. 24,000?
Most Upvoted Answer
The total of debit and credit side of Mr. Ram‟s Trial balance as on 31...
Total Debit and Credit Side of Trial Balance
The total of the debit side of Mr. Ram's trial balance as on 31st March, 2010 was Rs. 40,000 and the total of the credit side was Rs. 20,000.
Transfer to Suspense A/c
The difference between the debit and credit side, which is Rs. 20,000, was transferred to the suspense account. This is done when there is an imbalance in the trial balance and the exact error cannot be identified.
Error in Sales Book
On 4th April 2010, it was discovered that the total of the sales book was carried forward as Rs. 10,000 instead of Rs. 8,000. This means that there was an error of Rs. 2,000 in the sales book.
Rectification of Error
To rectify this error, we need to adjust the suspense account. Since the error is in the sales book, we need to decrease the credit side of the suspense account by Rs. 2,000.
The entry to rectify this error will be as follows:
Suspense A/c Dr. 2,000
To Sales A/c 2,000
Balance of Suspense A/c after Rectification
The balance of the suspense account after rectification of this error will be Rs. 20,000 - Rs. 2,000 = Rs. 18,000.
Summary
- The total of the debit side of the trial balance was Rs. 40,000 and the total of the credit side was Rs. 20,000.
- The difference of Rs. 20,000 was transferred to the suspense account.
- An error of Rs. 2,000 was found in the sales book.
- The suspense account was adjusted by decreasing the credit side by Rs. 2,000.
- The balance of the suspense account after rectification is Rs. 18,000.
Therefore, the correct option is (c) Rs. 18,000.
The total of the debit side of Mr. Ram's trial balance as on 31st March, 2010 was Rs. 40,000 and the total of the credit side was Rs. 20,000.
Transfer to Suspense A/c
The difference between the debit and credit side, which is Rs. 20,000, was transferred to the suspense account. This is done when there is an imbalance in the trial balance and the exact error cannot be identified.
Error in Sales Book
On 4th April 2010, it was discovered that the total of the sales book was carried forward as Rs. 10,000 instead of Rs. 8,000. This means that there was an error of Rs. 2,000 in the sales book.
Rectification of Error
To rectify this error, we need to adjust the suspense account. Since the error is in the sales book, we need to decrease the credit side of the suspense account by Rs. 2,000.
The entry to rectify this error will be as follows:
Suspense A/c Dr. 2,000
To Sales A/c 2,000
Balance of Suspense A/c after Rectification
The balance of the suspense account after rectification of this error will be Rs. 20,000 - Rs. 2,000 = Rs. 18,000.
Summary
- The total of the debit side of the trial balance was Rs. 40,000 and the total of the credit side was Rs. 20,000.
- The difference of Rs. 20,000 was transferred to the suspense account.
- An error of Rs. 2,000 was found in the sales book.
- The suspense account was adjusted by decreasing the credit side by Rs. 2,000.
- The balance of the suspense account after rectification is Rs. 18,000.
Therefore, the correct option is (c) Rs. 18,000.
Community Answer
The total of debit and credit side of Mr. Ram‟s Trial balance as on 31...
A. 22000
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
The total of debit and credit side of Mr. Ram‟s Trial balance as on 31st March, 2010 were Rs. 40,000 and Rs. 20,000 respectively. The difference was transferred to suspense A/c. On 4th April 2010, it was found that the total of sales book was carried forward as 10,000 instead of 8,000. The balance of suspense A/c after rectification of this error will be - (a) Rs. 22,000 (b) Rs. 20,000 (c) Rs. 18,000 (d) Rs. 24,000?
Question Description
The total of debit and credit side of Mr. Ram‟s Trial balance as on 31st March, 2010 were Rs. 40,000 and Rs. 20,000 respectively. The difference was transferred to suspense A/c. On 4th April 2010, it was found that the total of sales book was carried forward as 10,000 instead of 8,000. The balance of suspense A/c after rectification of this error will be - (a) Rs. 22,000 (b) Rs. 20,000 (c) Rs. 18,000 (d) Rs. 24,000? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The total of debit and credit side of Mr. Ram‟s Trial balance as on 31st March, 2010 were Rs. 40,000 and Rs. 20,000 respectively. The difference was transferred to suspense A/c. On 4th April 2010, it was found that the total of sales book was carried forward as 10,000 instead of 8,000. The balance of suspense A/c after rectification of this error will be - (a) Rs. 22,000 (b) Rs. 20,000 (c) Rs. 18,000 (d) Rs. 24,000? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The total of debit and credit side of Mr. Ram‟s Trial balance as on 31st March, 2010 were Rs. 40,000 and Rs. 20,000 respectively. The difference was transferred to suspense A/c. On 4th April 2010, it was found that the total of sales book was carried forward as 10,000 instead of 8,000. The balance of suspense A/c after rectification of this error will be - (a) Rs. 22,000 (b) Rs. 20,000 (c) Rs. 18,000 (d) Rs. 24,000?.
The total of debit and credit side of Mr. Ram‟s Trial balance as on 31st March, 2010 were Rs. 40,000 and Rs. 20,000 respectively. The difference was transferred to suspense A/c. On 4th April 2010, it was found that the total of sales book was carried forward as 10,000 instead of 8,000. The balance of suspense A/c after rectification of this error will be - (a) Rs. 22,000 (b) Rs. 20,000 (c) Rs. 18,000 (d) Rs. 24,000? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The total of debit and credit side of Mr. Ram‟s Trial balance as on 31st March, 2010 were Rs. 40,000 and Rs. 20,000 respectively. The difference was transferred to suspense A/c. On 4th April 2010, it was found that the total of sales book was carried forward as 10,000 instead of 8,000. The balance of suspense A/c after rectification of this error will be - (a) Rs. 22,000 (b) Rs. 20,000 (c) Rs. 18,000 (d) Rs. 24,000? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The total of debit and credit side of Mr. Ram‟s Trial balance as on 31st March, 2010 were Rs. 40,000 and Rs. 20,000 respectively. The difference was transferred to suspense A/c. On 4th April 2010, it was found that the total of sales book was carried forward as 10,000 instead of 8,000. The balance of suspense A/c after rectification of this error will be - (a) Rs. 22,000 (b) Rs. 20,000 (c) Rs. 18,000 (d) Rs. 24,000?.
Solutions for The total of debit and credit side of Mr. Ram‟s Trial balance as on 31st March, 2010 were Rs. 40,000 and Rs. 20,000 respectively. The difference was transferred to suspense A/c. On 4th April 2010, it was found that the total of sales book was carried forward as 10,000 instead of 8,000. The balance of suspense A/c after rectification of this error will be - (a) Rs. 22,000 (b) Rs. 20,000 (c) Rs. 18,000 (d) Rs. 24,000? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of The total of debit and credit side of Mr. Ram‟s Trial balance as on 31st March, 2010 were Rs. 40,000 and Rs. 20,000 respectively. The difference was transferred to suspense A/c. On 4th April 2010, it was found that the total of sales book was carried forward as 10,000 instead of 8,000. The balance of suspense A/c after rectification of this error will be - (a) Rs. 22,000 (b) Rs. 20,000 (c) Rs. 18,000 (d) Rs. 24,000? defined & explained in the simplest way possible. Besides giving the explanation of
The total of debit and credit side of Mr. Ram‟s Trial balance as on 31st March, 2010 were Rs. 40,000 and Rs. 20,000 respectively. The difference was transferred to suspense A/c. On 4th April 2010, it was found that the total of sales book was carried forward as 10,000 instead of 8,000. The balance of suspense A/c after rectification of this error will be - (a) Rs. 22,000 (b) Rs. 20,000 (c) Rs. 18,000 (d) Rs. 24,000?, a detailed solution for The total of debit and credit side of Mr. Ram‟s Trial balance as on 31st March, 2010 were Rs. 40,000 and Rs. 20,000 respectively. The difference was transferred to suspense A/c. On 4th April 2010, it was found that the total of sales book was carried forward as 10,000 instead of 8,000. The balance of suspense A/c after rectification of this error will be - (a) Rs. 22,000 (b) Rs. 20,000 (c) Rs. 18,000 (d) Rs. 24,000? has been provided alongside types of The total of debit and credit side of Mr. Ram‟s Trial balance as on 31st March, 2010 were Rs. 40,000 and Rs. 20,000 respectively. The difference was transferred to suspense A/c. On 4th April 2010, it was found that the total of sales book was carried forward as 10,000 instead of 8,000. The balance of suspense A/c after rectification of this error will be - (a) Rs. 22,000 (b) Rs. 20,000 (c) Rs. 18,000 (d) Rs. 24,000? theory, EduRev gives you an
ample number of questions to practice The total of debit and credit side of Mr. Ram‟s Trial balance as on 31st March, 2010 were Rs. 40,000 and Rs. 20,000 respectively. The difference was transferred to suspense A/c. On 4th April 2010, it was found that the total of sales book was carried forward as 10,000 instead of 8,000. The balance of suspense A/c after rectification of this error will be - (a) Rs. 22,000 (b) Rs. 20,000 (c) Rs. 18,000 (d) Rs. 24,000? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup