Answer to Question #62545 in Accounting for Asif
Sales returns book was undercast by $1,000.
Purchase of furniture for $3,000 was passed through purchase day book.
$3,750 paid as wages to workers for making show-cases was charged to wages account.
Purchase of $ 6,710 was posted to the debit of creditors account as $ 6,170.
A cheque for $2,000 received from Saleem was dishonoured & was passed to the debit of allowances account.
Goods costing $ 1,000 had been returned by a customer and were taken into stock but no entry was made in the books.
A sale of $ 2,000 to Imran & co. was credited to their account.
Sale amounting to $10,000 was passed through purchased day book. The customer’s account had however been correctly debited.
(A) Journal Entries (without narration) to rectify the errors with reasons.
(B) suspense Account
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