Page 228 - ISCDEBK-XI

21.16 Double Entry Book Keeping—ISC XI
Creditor’s A/c ...Dr. 5,000
To Cash A/c 4,800
To Discount Received A/c 200
(Being cash paid to a creditor and discount allowed by him omitted
to be recorded, now recorded)
Cashier’s A/c ...Dr. 25,200
To Cash A/c 25,200
(Being cash defaulted by the cashier)
Dr. SUSPENSE ACCOUNT Cr.
Particulars ` Particulars `
To Discount Received A/c 100 By Difference in Books as per Trial Balance 1,210
To Merchant’s A/c 910 (Balancing Figure)
To Customer’s A/c 200

1,210 1,210

Note: Suspense Account indicates that there was a difference of ` 1,210 in the Trial Balance before deducting
the errors. Debit side of the Trial Balance exceeded credit side by ` 1,210.

Illustration 12.
Raj prepared his Trial Balance as on 31st March, 2022 with a difference of ` 41,016.

TRIAL BALANCE as on 31st March, 2022
Heads of Accounts L.F. Dr. (`) Cr. (`)
Capital ... 10,00,256
Plant and Machinery 2,50,000 ...
Furniture 26,500 ...
Car 4,85,000 ...
Building 6,20,000 ...
Cash 69,000 ...
Bank 72,000 ...
Depreciation 46,500 ...
Opening Stock 45,800 ...
Purchases 6,90,000 ...
Wages 1,90,000 ...
Manufacturing Expenses 2,06,000 ...
Salary 1,20,000 ...
Rent 2,40,000 ...
Postage and Telephone 89,000 ...
Electricity 94,000 ...
General Expenses 12,500 ...
Sales ... 10,25,000
Interest ... 4,500
Fixed Assets 2,50,000 ...
Outstanding Expenses ... 63,500
Sundry Debtors 96,000 ...
Sundry Creditors ... 2,00,060
Unsecured Loan ... 13,50,000
Suspense 41,016 ...
Total 36,43,316 36,43,316