SMU MBA ASSIGNMENTS

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2 The trial balance of Nilgiris Co Ltd., as taken on 31st December, 2002 did not tally and the difference was carried to suspense account. The following errors were detected subsequently. a) Sales book total for November was under cast by Rs. 1200. b) Purchase of new equipment costing Rs. 9475 has been posted to Purchases a/c. c) Discount received Rs.1250 and discount allowed Rs. 850 in September 2002 have been posted to wrong sides of discount account. d) A cheque received from Mr. Longford for Rs. 1500 for goods sold to him on credit earlier, though entered correctly in the cash book has been posted in his account as Rs. 1050. e) Stocks worth Rs. 255 taken for use by Mr Dayananda, the Managing Director, have been entered in sales day book. f) While carrying forward, the total in Returns Inwards Book has been taken as Rs. 674 instead of Rs. 647. g) An amount paid to cashier, Mr. Ramachandra, Rs. 775 as salary for the month of November has been debited to his personal account as Rs. 757. Pass journal entries and draw up the suspense account.

April 20, 2015 By: Meliza Category: 1st SEM

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