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Issued cheque for 70,000 to pay off one...

Issued cheque for 70,000 to pay off one of the creditors. The account to be debited is ............

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Rectify the following errors assuming that a suspense account was opened. Ascertain the difference in trial balance. (a) Credit sales to Mohan 7,000 were posted to the credit of his account. (b) Credit purchases from Rohan 9,000 were posted to the debit of his account as 6,000. (c) Goods returned to Rakesh 4,000 were posted to the credit of his account. (d) Goods returned from Mahesh 1,000 were posted to the debit of his account as 2,000. (e) Cash sales 2,000 were posted to the debit of sales account as 5,000.

On 31 st March, 2019 bank column of the Cash Book showed a debite balance of ₹4900. Banke Stattement of Pass Book showed credit blance ₹ 37,400. Entries in the Cash Book and Pass were compared and following differences were idntified : (i) Cheques of Syam ₹ 9,000 and of Mohan ₹ 15,000 were deposited in the bank but were not collected up to 31 st March, 2019 (ii) Ramesh, a debtor, deposited a cheque of ₹ 8,000 directly into the bank. (iii) Bank had credite4d ₹ 500 as interest which was not recorded in Cash Bank. (iv) Cheque for ₹ 10,000 issued to Radhey Shyam was not presented for payment. (v) Bank debited the accunt by ₹ 6,000 being insurance premium aid as per standing instruction. (vi) Bank debited the account by ₹7,000 being bank charges. You are required to prepare Bank Reconciliation Statement as on 31at March, 2019 .

Pass necessary Journal entries to rectify the following errors: (i) A credit sale of Rs. 1,700 to Krishan was posted to Krishan's Account. A cash sale of Rs. 1,700 to Meena was posted to the credit of Meena. (iii) A credit sale of old furniture to Prem for Rs. 1,700 was credited to the Sale Account. (iv) A credit sale of old furniture to Rohan for Rs. 1,700 was posted as Rs. 7,100. (v) A cheque for Rs. 640 received from Guru was dishonoured and was posted to the debit of Sales Return Account. (vi) An amount of Rs. 2,860 due from Prassed, written off as bad in previous year, was recovered and credited to his personal account. (vii) A discounted bill of exchange receivable for Rs. 8,000 returned by the firm's bank had been credited to the Bank Account and debited to Bills Receivable Account. (viii) Rs. 10,000 paid for the electricity bill of the proprietor's residence was debited to Electricity Expenses Account. (ix) An amount of RS. 7,500 withdrawn from bank by the proprietor for his personal use was debited to Purchases Account. (x) An amount of Rs. 15,000 withdrawn from bank by the proprietor for office use was debited to Drawings Account. (xi) Rs. 8,000 salary paid to Varun, an employes, debited to his personal account.

The following information relate to the business of Mohit Raina, who requests you to prepare his ameded Cash Book and reconcile his Cash Book balance with his Pass Book balance : Balance as per Cash Book (Cr.) 40,000 Unpresented cheques 72,000 Uncredited cheques 13,0000 you been given the following aditional information : (a) The debit side of the Cas Book (Ban Column) has been undercast by ₹25,000. (b) A cheque for ₹10,000 paid to a creditor has been wrongly entered in the Cash Column. (c ) Bank commission and other charges ₹4,000 have not been recorded in the Cash Book.

Pradeep and Rajesh were partners in a firm sharing profits and losses in the ratio of 3 : 2 . They decided to dissolve their partnership firm on 31st March 2018 . Pradeep was deputed to realise the assets and to pay off the liabilities . He was paid ₹ 1,000 as commission for his services . The financial position of the firm on 31st March , 2018 was as follows : Following terms and conditions were agreed upon : (a) Pradeep agreed to pay off his wife loan . (b) Half of the debtors realised ₹ 12, 000 and remaining debtors were used to pay off 25% of the creditors. (c) Investment sold to Rajesh for ₹ 27,000 . (d) Building realised ₹ 1, 52, 000 . (e) Remaining creditors were to be paid after two months , they were paid immediately at 10% p.a discount . (f) Bills receivables were settled at a loss of ₹ 1,400 . (g) Realisation expenses amounted to ₹ 2,500. Prepare Realisation Account .

On 31st December, 2014 the Cash Book of Gopal showed debit balance of 12,000. On comparing the Cash Book with the Pass Book, the following decrepancies were noted :- (a) Cheques were issued for ₹15,000, but of them cheques for ₹7,700 have not yet been presented. (b) chequs for ₹8,000 were deposited in bank but of these cheques for ₹2,000 were not recorded not in the Cash Book. (c ) Cheques deposited in bank but not credited ₹3,800. (d) A cheque for ₹350 was paid into bank but bank credited the amount with ₹350 by mistake. (e) Bank received interest on debentures on behalf of Fopal amounting to ₹300. (f) It was also found thet the total of one page on the payment side of the Cash Book was ₹4,520 but it w written on the next page as ₹5,420 but it was written on the next page as ₹5,420. Prepare a Bank Eonciliation Statement.