The accountant of a firm finds that the Trial Balance as on 31st December, 2017 is out by as excess debit of Rs. 283. He placed the amount in the Suspense Account. In the first week of January, 2018, he discovered the following errors. Pass the Journal entries necessary to rectify these errors and show the Suspense Account as it would appear at the end of the week. Have you any comment to make?
(i) Cash paid to Amar Nath, Rs. 75, was posted to the credit of Amar Singh’* Account as Rs. 57.
(ii) Discount allowed by Brijesh of Rs. 5 was not entered in the Cash Book but Brijesh stands debited correctly.
(iii) No entry was made of goods worth Rs. 40 taken away by proprietor for personal use.
(iv) Rs. 500 received from Jhaveri Bros. for interest on loan advanced to them were recorded in the Cash Book. But the entry was not posted in the Ledger.
(v) The total of Returns Outward Book was short by Rs. 100.
