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(A) The Trial Balance of Green & Co. as on 30th June . 2001 shows a difference of Rs. 8,323. The debit side being in excess of the credit side. This difference was placed in “ Suspense A/c “ while closing the books , the following errors were subsequently noticed: (a) Return outward Book under cast by Rs. 909 on 28th June. (b) Repairs to plant and Machinery amounting to Rs. 1,100 was debited to Plant & Machinery Account on 9 th June. (c) Advance of Rs. 1,001 given to one of the suppliers Mr. ‘X’ on 20th May, was entered correctly in the cash book but was posted in his account on the credit side. (d) A cheque for Rs. 929 deposited in the bank on 29th May, was wrongly entered in Cash Book as Rs. 9,229 though the correct amount was posted in the account of customer. (e) Closing Stock as on 30th June , was Rs. 95,700 but the same wrongly carried forward as Rs. 97,500 in the books on 1st July 2000. (f) Rs. 684 being the discount allowed by one of the suppliers Mr. ‘Y’ on 25th June was omitted to be posted in his account Pass rectification entries for the above and draw the “Suspense Account”.
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(A) The Trial Balance of Green & Co. as on 30th June . 2001 shows a di...


Rectification of Errors in Green & Co.

Errors Identified:
- Return outward Book under cast by Rs. 909 on 28th June.
- Repairs to plant and Machinery amounting to Rs. 1,100 debited to Plant & Machinery Account on 9th June.
- Advance of Rs. 1,001 to supplier Mr. ‘X’ incorrectly posted on the credit side.
- Cheque for Rs. 929 deposited in the bank on 29th May wrongly entered as Rs. 9,229 in Cash Book.
- Closing Stock of Rs. 95,700 carried forward as Rs. 97,500 on 1st July 2000.
- Discount of Rs. 684 allowed by supplier Mr. ‘Y’ on 25th June omitted in his account.

Rectification Entries:
1. Debit Return Outward Book account and credit Suspense Account by Rs. 909.
2. Debit Plant & Machinery Account and credit Repairs Account by Rs. 1,100.
3. Debit Mr. ‘X’ Account and credit Suspense Account by Rs. 1,001.
4. Debit Bank Account and credit Cash Account by Rs. 8,300.
5. Debit Closing Stock Account by Rs. 1,800 and credit Suspense Account by Rs. 1,800.
6. Debit Mr. ‘Y’ Account and credit Suspense Account by Rs. 684.

Suspense Account:
- Debit side: Rs. 8,323
- Credit side: Rs. 9,798
- Balance c/d (Credit side): Rs. 1,475

Final Suspense Account:
- Debit side: Rs. 8,323
- Credit side: Rs. 9,798
- Balance c/d (Credit side): Rs. 1,475
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(A) The Trial Balance of Green & Co. as on 30th June . 2001 shows a di...
A) The Trial Balance of Green & Co. as on 30th June . 2001 shows a difference of Rs. 8,323. The debit side being in excess of the credit side. This difference was placed in “ Suspense A/c “ while closing the books , the following errors were subsequently noticed: (a) Return outward Book under cast by Rs. 909 on 28th June. (b) Repairs to plant and Machinery amounting to Rs. 1,100 was debited to Plant & Machinery Account on 9 th June. (c) Advance of Rs. 1,001 given to one of the suppliers Mr. ‘X’ on 20th May, was entered correctly in the cash book but was posted in his account on the credit side. (d) A cheque for Rs. 929 deposited in the bank on 29th May, was wrongly entered in Cash Book as Rs. 9,229 though the correct amount was posted in the account of customer. (e) Closing Stock as on 30th June , was Rs. 95,700 but the same wrongly carried forward as Rs. 97,500 in the books on 1st July 2000. (f) Rs. 684 being the discount allowed by one of the suppliers Mr. ‘Y’ on 25th June was omitted to be posted in his account Pass rectification entries for the above and draw the “Suspense Account”.
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(A) The Trial Balance of Green & Co. as on 30th June . 2001 shows a difference of Rs. 8,323. The debit side being in excess of the credit side. This difference was placed in “ Suspense A/c “ while closing the books , the following errors were subsequently noticed: (a) Return outward Book under cast by Rs. 909 on 28th June. (b) Repairs to plant and Machinery amounting to Rs. 1,100 was debited to Plant & Machinery Account on 9 th June. (c) Advance of Rs. 1,001 given to one of the suppliers Mr. ‘X’ on 20th May, was entered correctly in the cash book but was posted in his account on the credit side. (d) A cheque for Rs. 929 deposited in the bank on 29th May, was wrongly entered in Cash Book as Rs. 9,229 though the correct amount was posted in the account of customer. (e) Closing Stock as on 30th June , was Rs. 95,700 but the same wrongly carried forward as Rs. 97,500 in the books on 1st July 2000. (f) Rs. 684 being the discount allowed by one of the suppliers Mr. ‘Y’ on 25th June was omitted to be posted in his account Pass rectification entries for the above and draw the “Suspense Account”. Related: ICAI Notes 2.8, Rectification of Errors (Part - 2)?
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(A) The Trial Balance of Green & Co. as on 30th June . 2001 shows a difference of Rs. 8,323. The debit side being in excess of the credit side. This difference was placed in “ Suspense A/c “ while closing the books , the following errors were subsequently noticed: (a) Return outward Book under cast by Rs. 909 on 28th June. (b) Repairs to plant and Machinery amounting to Rs. 1,100 was debited to Plant & Machinery Account on 9 th June. (c) Advance of Rs. 1,001 given to one of the suppliers Mr. ‘X’ on 20th May, was entered correctly in the cash book but was posted in his account on the credit side. (d) A cheque for Rs. 929 deposited in the bank on 29th May, was wrongly entered in Cash Book as Rs. 9,229 though the correct amount was posted in the account of customer. (e) Closing Stock as on 30th June , was Rs. 95,700 but the same wrongly carried forward as Rs. 97,500 in the books on 1st July 2000. (f) Rs. 684 being the discount allowed by one of the suppliers Mr. ‘Y’ on 25th June was omitted to be posted in his account Pass rectification entries for the above and draw the “Suspense Account”. Related: ICAI Notes 2.8, Rectification of Errors (Part - 2)? 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 (A) The Trial Balance of Green & Co. as on 30th June . 2001 shows a difference of Rs. 8,323. The debit side being in excess of the credit side. This difference was placed in “ Suspense A/c “ while closing the books , the following errors were subsequently noticed: (a) Return outward Book under cast by Rs. 909 on 28th June. (b) Repairs to plant and Machinery amounting to Rs. 1,100 was debited to Plant & Machinery Account on 9 th June. (c) Advance of Rs. 1,001 given to one of the suppliers Mr. ‘X’ on 20th May, was entered correctly in the cash book but was posted in his account on the credit side. (d) A cheque for Rs. 929 deposited in the bank on 29th May, was wrongly entered in Cash Book as Rs. 9,229 though the correct amount was posted in the account of customer. (e) Closing Stock as on 30th June , was Rs. 95,700 but the same wrongly carried forward as Rs. 97,500 in the books on 1st July 2000. (f) Rs. 684 being the discount allowed by one of the suppliers Mr. ‘Y’ on 25th June was omitted to be posted in his account Pass rectification entries for the above and draw the “Suspense Account”. Related: ICAI Notes 2.8, Rectification of Errors (Part - 2)? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for (A) The Trial Balance of Green & Co. as on 30th June . 2001 shows a difference of Rs. 8,323. The debit side being in excess of the credit side. This difference was placed in “ Suspense A/c “ while closing the books , the following errors were subsequently noticed: (a) Return outward Book under cast by Rs. 909 on 28th June. (b) Repairs to plant and Machinery amounting to Rs. 1,100 was debited to Plant & Machinery Account on 9 th June. (c) Advance of Rs. 1,001 given to one of the suppliers Mr. ‘X’ on 20th May, was entered correctly in the cash book but was posted in his account on the credit side. (d) A cheque for Rs. 929 deposited in the bank on 29th May, was wrongly entered in Cash Book as Rs. 9,229 though the correct amount was posted in the account of customer. (e) Closing Stock as on 30th June , was Rs. 95,700 but the same wrongly carried forward as Rs. 97,500 in the books on 1st July 2000. (f) Rs. 684 being the discount allowed by one of the suppliers Mr. ‘Y’ on 25th June was omitted to be posted in his account Pass rectification entries for the above and draw the “Suspense Account”. Related: ICAI Notes 2.8, Rectification of Errors (Part - 2)?.
Solutions for (A) The Trial Balance of Green & Co. as on 30th June . 2001 shows a difference of Rs. 8,323. The debit side being in excess of the credit side. This difference was placed in “ Suspense A/c “ while closing the books , the following errors were subsequently noticed: (a) Return outward Book under cast by Rs. 909 on 28th June. (b) Repairs to plant and Machinery amounting to Rs. 1,100 was debited to Plant & Machinery Account on 9 th June. (c) Advance of Rs. 1,001 given to one of the suppliers Mr. ‘X’ on 20th May, was entered correctly in the cash book but was posted in his account on the credit side. (d) A cheque for Rs. 929 deposited in the bank on 29th May, was wrongly entered in Cash Book as Rs. 9,229 though the correct amount was posted in the account of customer. (e) Closing Stock as on 30th June , was Rs. 95,700 but the same wrongly carried forward as Rs. 97,500 in the books on 1st July 2000. (f) Rs. 684 being the discount allowed by one of the suppliers Mr. ‘Y’ on 25th June was omitted to be posted in his account Pass rectification entries for the above and draw the “Suspense Account”. Related: ICAI Notes 2.8, Rectification of Errors (Part - 2)? 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 (A) The Trial Balance of Green & Co. as on 30th June . 2001 shows a difference of Rs. 8,323. The debit side being in excess of the credit side. This difference was placed in “ Suspense A/c “ while closing the books , the following errors were subsequently noticed: (a) Return outward Book under cast by Rs. 909 on 28th June. (b) Repairs to plant and Machinery amounting to Rs. 1,100 was debited to Plant & Machinery Account on 9 th June. (c) Advance of Rs. 1,001 given to one of the suppliers Mr. ‘X’ on 20th May, was entered correctly in the cash book but was posted in his account on the credit side. (d) A cheque for Rs. 929 deposited in the bank on 29th May, was wrongly entered in Cash Book as Rs. 9,229 though the correct amount was posted in the account of customer. (e) Closing Stock as on 30th June , was Rs. 95,700 but the same wrongly carried forward as Rs. 97,500 in the books on 1st July 2000. (f) Rs. 684 being the discount allowed by one of the suppliers Mr. ‘Y’ on 25th June was omitted to be posted in his account Pass rectification entries for the above and draw the “Suspense Account”. Related: ICAI Notes 2.8, Rectification of Errors (Part - 2)? defined & explained in the simplest way possible. Besides giving the explanation of (A) The Trial Balance of Green & Co. as on 30th June . 2001 shows a difference of Rs. 8,323. The debit side being in excess of the credit side. This difference was placed in “ Suspense A/c “ while closing the books , the following errors were subsequently noticed: (a) Return outward Book under cast by Rs. 909 on 28th June. (b) Repairs to plant and Machinery amounting to Rs. 1,100 was debited to Plant & Machinery Account on 9 th June. (c) Advance of Rs. 1,001 given to one of the suppliers Mr. ‘X’ on 20th May, was entered correctly in the cash book but was posted in his account on the credit side. (d) A cheque for Rs. 929 deposited in the bank on 29th May, was wrongly entered in Cash Book as Rs. 9,229 though the correct amount was posted in the account of customer. (e) Closing Stock as on 30th June , was Rs. 95,700 but the same wrongly carried forward as Rs. 97,500 in the books on 1st July 2000. (f) Rs. 684 being the discount allowed by one of the suppliers Mr. ‘Y’ on 25th June was omitted to be posted in his account Pass rectification entries for the above and draw the “Suspense Account”. Related: ICAI Notes 2.8, Rectification of Errors (Part - 2)?, a detailed solution for (A) The Trial Balance of Green & Co. as on 30th June . 2001 shows a difference of Rs. 8,323. The debit side being in excess of the credit side. This difference was placed in “ Suspense A/c “ while closing the books , the following errors were subsequently noticed: (a) Return outward Book under cast by Rs. 909 on 28th June. (b) Repairs to plant and Machinery amounting to Rs. 1,100 was debited to Plant & Machinery Account on 9 th June. (c) Advance of Rs. 1,001 given to one of the suppliers Mr. ‘X’ on 20th May, was entered correctly in the cash book but was posted in his account on the credit side. (d) A cheque for Rs. 929 deposited in the bank on 29th May, was wrongly entered in Cash Book as Rs. 9,229 though the correct amount was posted in the account of customer. (e) Closing Stock as on 30th June , was Rs. 95,700 but the same wrongly carried forward as Rs. 97,500 in the books on 1st July 2000. (f) Rs. 684 being the discount allowed by one of the suppliers Mr. ‘Y’ on 25th June was omitted to be posted in his account Pass rectification entries for the above and draw the “Suspense Account”. Related: ICAI Notes 2.8, Rectification of Errors (Part - 2)? has been provided alongside types of (A) The Trial Balance of Green & Co. as on 30th June . 2001 shows a difference of Rs. 8,323. The debit side being in excess of the credit side. This difference was placed in “ Suspense A/c “ while closing the books , the following errors were subsequently noticed: (a) Return outward Book under cast by Rs. 909 on 28th June. (b) Repairs to plant and Machinery amounting to Rs. 1,100 was debited to Plant & Machinery Account on 9 th June. (c) Advance of Rs. 1,001 given to one of the suppliers Mr. ‘X’ on 20th May, was entered correctly in the cash book but was posted in his account on the credit side. (d) A cheque for Rs. 929 deposited in the bank on 29th May, was wrongly entered in Cash Book as Rs. 9,229 though the correct amount was posted in the account of customer. (e) Closing Stock as on 30th June , was Rs. 95,700 but the same wrongly carried forward as Rs. 97,500 in the books on 1st July 2000. (f) Rs. 684 being the discount allowed by one of the suppliers Mr. ‘Y’ on 25th June was omitted to be posted in his account Pass rectification entries for the above and draw the “Suspense Account”. Related: ICAI Notes 2.8, Rectification of Errors (Part - 2)? theory, EduRev gives you an ample number of questions to practice (A) The Trial Balance of Green & Co. as on 30th June . 2001 shows a difference of Rs. 8,323. The debit side being in excess of the credit side. This difference was placed in “ Suspense A/c “ while closing the books , the following errors were subsequently noticed: (a) Return outward Book under cast by Rs. 909 on 28th June. (b) Repairs to plant and Machinery amounting to Rs. 1,100 was debited to Plant & Machinery Account on 9 th June. (c) Advance of Rs. 1,001 given to one of the suppliers Mr. ‘X’ on 20th May, was entered correctly in the cash book but was posted in his account on the credit side. (d) A cheque for Rs. 929 deposited in the bank on 29th May, was wrongly entered in Cash Book as Rs. 9,229 though the correct amount was posted in the account of customer. (e) Closing Stock as on 30th June , was Rs. 95,700 but the same wrongly carried forward as Rs. 97,500 in the books on 1st July 2000. (f) Rs. 684 being the discount allowed by one of the suppliers Mr. ‘Y’ on 25th June was omitted to be posted in his account Pass rectification entries for the above and draw the “Suspense Account”. Related: ICAI Notes 2.8, Rectification of Errors (Part - 2)? tests, examples and also practice CA Foundation tests.
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