Mb0041 Composition

MBA /PGDBA/MBABF Semester 1

MB0041/MBABF –Financial and Supervision Accounting-

Q1. An accountant locates that the trial balance of his customer did not tally and that showed a surplus credit of Rs. 69. 74. He transferred it to a uncertainty account and later discovered the subsequent errors.

a) Rs. 44. 37 paid to Anand has been awarded to his account because Rs. 34. 37. b) A purchase of Rs. one hundred forty five. 50 have been posted since Rs. 154. 50 for the purchases bank account.

c) A great expenditure of Rs. 158 on vehicle repairs has been debited to the buildings account. d) Rs. 85 was allowed by W as lower price which has not really been came into in the literature. e) A sum of Rs. 125. 05 realised on the sale of old pieces of furniture has been posted to the sales account.

Provide journal records to rectify the problems and show the suspense accounts as it would seem after alterations Hint: Total of suspense a/c = 78. seventy four |Date |Particulars |LF |Debit (Rs) |Credit (Rs) | |08/05/2013 |Anand's account Doctor | | | | | |To suspense account | |78. 74 |78. 74 | | |(Being wrong volume, wrong | | | | | |ly acknowledged to Anand's a/c rectified) | | | | |08/05/2013 | | |9. 00 |9. 00 | | |Suspense account Doctor | | | | | |To Purchases accounts | | | | | |(Being over debit of | | | | |08/05/2013 |purchase account rectified) | | | | | | | | | | | |Repairs bank account Dr | |158. 00 |158. 00 | | |To Properties account | | | | |08/05/2013 |(Being wrong debit directed at | | | | | |building account rectified) | | | | | | | | | | | |B's account Dr | | | | |08/05/2013 |To Discount received a/c | |80. 00 |80. 00 | | |(Being low cost received | | | | | |from N, omitted previous, | | | | | |brought to account) | | | | | |...

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