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The Trial Balance of ABC Ltd, as on Dec 32002 did not agree. The difference was put to a Suspense Account. During the next trading period, the following errors were discovered : (i) The total of the sales book of one page Rs. 6.531 was carried forward to the next page as Rs. 6,351 . (ii) Goods returned by a customer for Rs. 1,200 but entered in Purchases Return Book. (iii) Personal Car Expenses amounting to Rs. 250 were debited to Trade Expenses. (iv) Sales Return Book was undercast by Rs. 2,750. (v) Rs. 50 discount allowed by a supplier, was wrongly posted to debit side of Discount Account (vi) An item of purchases of Rs. 151 was entered in Purchases Book as Rs. 15 and posted to Supplier's account as Rs. 5 You are reuired to give journal entries to rectify the errors through Profit & Loss Adjustment Account in a way so as to show the current year's profit or loss correctly.​? 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 Trial Balance of ABC Ltd, as on Dec 32002 did not agree. The difference was put to a Suspense Account. During the next trading period, the following errors were discovered : (i) The total of the sales book of one page Rs. 6.531 was carried forward to the next page as Rs. 6,351 . (ii) Goods returned by a customer for Rs. 1,200 but entered in Purchases Return Book. (iii) Personal Car Expenses amounting to Rs. 250 were debited to Trade Expenses. (iv) Sales Return Book was undercast by Rs. 2,750. (v) Rs. 50 discount allowed by a supplier, was wrongly posted to debit side of Discount Account (vi) An item of purchases of Rs. 151 was entered in Purchases Book as Rs. 15 and posted to Supplier's account as Rs. 5 You are reuired to give journal entries to rectify the errors through Profit & Loss Adjustment Account in a way so as to show the current year's profit or loss correctly.​? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The Trial Balance of ABC Ltd, as on Dec 32002 did not agree. The difference was put to a Suspense Account. During the next trading period, the following errors were discovered : (i) The total of the sales book of one page Rs. 6.531 was carried forward to the next page as Rs. 6,351 . (ii) Goods returned by a customer for Rs. 1,200 but entered in Purchases Return Book. (iii) Personal Car Expenses amounting to Rs. 250 were debited to Trade Expenses. (iv) Sales Return Book was undercast by Rs. 2,750. (v) Rs. 50 discount allowed by a supplier, was wrongly posted to debit side of Discount Account (vi) An item of purchases of Rs. 151 was entered in Purchases Book as Rs. 15 and posted to Supplier's account as Rs. 5 You are reuired to give journal entries to rectify the errors through Profit & Loss Adjustment Account in a way so as to show the current year's profit or loss correctly.​?.

Solutions for The Trial Balance of ABC Ltd, as on Dec 32002 did not agree. The difference was put to a Suspense Account. During the next trading period, the following errors were discovered : (i) The total of the sales book of one page Rs. 6.531 was carried forward to the next page as Rs. 6,351 . (ii) Goods returned by a customer for Rs. 1,200 but entered in Purchases Return Book. (iii) Personal Car Expenses amounting to Rs. 250 were debited to Trade Expenses. (iv) Sales Return Book was undercast by Rs. 2,750. (v) Rs. 50 discount allowed by a supplier, was wrongly posted to debit side of Discount Account (vi) An item of purchases of Rs. 151 was entered in Purchases Book as Rs. 15 and posted to Supplier's account as Rs. 5 You are reuired to give journal entries to rectify the errors through Profit & Loss Adjustment Account in a way so as to show the current year's profit or loss correctly.​? 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 Trial Balance of ABC Ltd, as on Dec 32002 did not agree. The difference was put to a Suspense Account. During the next trading period, the following errors were discovered : (i) The total of the sales book of one page Rs. 6.531 was carried forward to the next page as Rs. 6,351 . (ii) Goods returned by a customer for Rs. 1,200 but entered in Purchases Return Book. (iii) Personal Car Expenses amounting to Rs. 250 were debited to Trade Expenses. (iv) Sales Return Book was undercast by Rs. 2,750. (v) Rs. 50 discount allowed by a supplier, was wrongly posted to debit side of Discount Account (vi) An item of purchases of Rs. 151 was entered in Purchases Book as Rs. 15 and posted to Supplier's account as Rs. 5 You are reuired to give journal entries to rectify the errors through Profit & Loss Adjustment Account in a way so as to show the current year's profit or loss correctly.​? defined & explained in the simplest way possible. Besides giving the explanation of The Trial Balance of ABC Ltd, as on Dec 32002 did not agree. The difference was put to a Suspense Account. During the next trading period, the following errors were discovered : (i) The total of the sales book of one page Rs. 6.531 was carried forward to the next page as Rs. 6,351 . (ii) Goods returned by a customer for Rs. 1,200 but entered in Purchases Return Book. (iii) Personal Car Expenses amounting to Rs. 250 were debited to Trade Expenses. (iv) Sales Return Book was undercast by Rs. 2,750. (v) Rs. 50 discount allowed by a supplier, was wrongly posted to debit side of Discount Account (vi) An item of purchases of Rs. 151 was entered in Purchases Book as Rs. 15 and posted to Supplier's account as Rs. 5 You are reuired to give journal entries to rectify the errors through Profit & Loss Adjustment Account in a way so as to show the current year's profit or loss correctly.​?, a detailed solution for The Trial Balance of ABC Ltd, as on Dec 32002 did not agree. The difference was put to a Suspense Account. During the next trading period, the following errors were discovered : (i) The total of the sales book of one page Rs. 6.531 was carried forward to the next page as Rs. 6,351 . (ii) Goods returned by a customer for Rs. 1,200 but entered in Purchases Return Book. (iii) Personal Car Expenses amounting to Rs. 250 were debited to Trade Expenses. (iv) Sales Return Book was undercast by Rs. 2,750. (v) Rs. 50 discount allowed by a supplier, was wrongly posted to debit side of Discount Account (vi) An item of purchases of Rs. 151 was entered in Purchases Book as Rs. 15 and posted to Supplier's account as Rs. 5 You are reuired to give journal entries to rectify the errors through Profit & Loss Adjustment Account in a way so as to show the current year's profit or loss correctly.​? has been provided alongside types of The Trial Balance of ABC Ltd, as on Dec 32002 did not agree. The difference was put to a Suspense Account. During the next trading period, the following errors were discovered : (i) The total of the sales book of one page Rs. 6.531 was carried forward to the next page as Rs. 6,351 . (ii) Goods returned by a customer for Rs. 1,200 but entered in Purchases Return Book. (iii) Personal Car Expenses amounting to Rs. 250 were debited to Trade Expenses. (iv) Sales Return Book was undercast by Rs. 2,750. (v) Rs. 50 discount allowed by a supplier, was wrongly posted to debit side of Discount Account (vi) An item of purchases of Rs. 151 was entered in Purchases Book as Rs. 15 and posted to Supplier's account as Rs. 5 You are reuired to give journal entries to rectify the errors through Profit & Loss Adjustment Account in a way so as to show the current year's profit or loss correctly.​? theory, EduRev gives you an ample number of questions to practice The Trial Balance of ABC Ltd, as on Dec 32002 did not agree. The difference was put to a Suspense Account. During the next trading period, the following errors were discovered : (i) The total of the sales book of one page Rs. 6.531 was carried forward to the next page as Rs. 6,351 . (ii) Goods returned by a customer for Rs. 1,200 but entered in Purchases Return Book. (iii) Personal Car Expenses amounting to Rs. 250 were debited to Trade Expenses. (iv) Sales Return Book was undercast by Rs. 2,750. (v) Rs. 50 discount allowed by a supplier, was wrongly posted to debit side of Discount Account (vi) An item of purchases of Rs. 151 was entered in Purchases Book as Rs. 15 and posted to Supplier's account as Rs. 5 You are reuired to give journal entries to rectify the errors through Profit & Loss Adjustment Account in a way so as to show the current year's profit or loss correctly.​? tests, examples and also practice CA Foundation tests.