In this article, we will do the Rectification of Errors Solution of BCOC-131 Financial Accounting Assignment of IGNOU for the year 2021-22.
Problem Given:
An Accountant finds the difference in the Trial Balance amounting to ₹ 210 and put it in the Suspense Account. Later on, he detects the following errors. Rectify the errors and prepare the Suspense Account.
a) Goods purchased from Ram ₹ 700 were passed through sales book.
b) Returned goods to Shyam ₹ 1,500 was passed through returns inward book.
c) An item of ₹ 450 relating to prepaid rent account was omitted to brought forward.
d) An item of ₹ 120 in respect of purchase returns, instead of being recorded in Returns Outward book has been wrongly entered in the purchase book and posted therefrom to the debit of personal account.
e) amount payable to Subhash for repairs done to Radio ₹ 180 and a new Radio supplied for ₹ 1,920 were entered in the Purchase Book as ₹ 2,100.
Note: The highlighted (Blue) amount was given wrong in the problem. It has been rectified.
Solution:
In the books of ………..
Journal Proper
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