Purchased goods of Rs. 2,400 from Simran and is correctly entered in the purchases book but posted to the credit of her account in the ledger as Rs. 3,400. Will this error create a difference in the trial balance or not?

No, there will be no difference

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Yes, a difference of Rs. 1,000

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Yes, a difference Rs. 2,400

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Yes, a difference of Rs. 3,400

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Solution

The correct option is B
Yes, a difference of Rs. 1,000

Credit side of trial balance will show a more balance by Rs. 1,000 due to posting of Rs. 3,400 instead of Rs. 2,400.

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Similar questions

Trial balance of Khatau did not agree. He put the difference to a suspense account and discovered the following errors.

(a) Credit sales to Manas Rs. 16,000 were recorded in the purchase book as Rs. 10,000 and posted to the debit of Manas as Rs. 1,000.

(b) Furniture purchased from Noor Rs. 6,000 was recorded through purchase book as Rs. 5,000 and posted to the debit of Noor Rs. 2,000.

(d) Old machinery sold for Rs. 2,000 to Maneesh recorded through sales book as Rs. 1,800 and posted to the credit of Manish as Rs. 1,200.

(e) Total of return inwards book Rs. 2,800 posted to purchase account.

Rectify the above errors and prepare a suspense account to ascertain the difference in trial balance.

Rectify the following errors assuming that suspense account was opened.

Ascertain the difference in trial balance.

(a)	Credit sales to Mohan Rs 7,000 were recorded in Purchase Book. However, Mohan’s account was correctly debited.
(b)	Credit purchases from Rohan Rs 9,000 were recorded in sales book. However, Rohan’s account was correctly credited.
(c)	Goods returned to Rakesh Rs 4,000 were recorded in sales return book. However, Rakesh’s account was correctly debited.
(d)	Goods returned from Mahesh Rs 1,000 were recorded through purchases return book. However, Mahesh’s account was correctly credited.
(e)	Goods returned to Naresh Rs 2,000 were recorded through purchases book. However, Naresh’s account was correctly debited.

Trial balance of Anuj did not agree. It showed an excess credit of Rs 6,000.

He put the difference to suspense account. He discovered the following erro Rs

(a)	Cash received from Ravish Rs 8,000 posted to his account as Rs 6,000.
(b)	Returns inwards book overcast by Rs 1,000.
(c)	Total of sales book Rs 10,000 was not posted to Sales account.
(d)	Credit purchases from Nanak Rs 7,000 were recorded in sales Book. However, Nanak’s account was correctly credited.
(e)	Machinery purchased for Rs 10,000 was posted to purchases account as Rs 5,000. Rectify the errors and prepare suspense account.

The Trial Balance shows a difference of Rs 1339 in the debit column and is made to agree by putting this difference against a suspense account later the following errors were discovered, Rectify them and prepare a suspense account.

1) Goods sold to Deepak worth Rs 550 on credit this was recorded in sales but not posted in the ledger to Deepak account.
2) Goods worth Rs 325 were returned by Bhat. The amount was credited to his account but was not entered in the sales Return Book.
3) Nandu paid Rs 760 to us, but their account was credited for Rs 706.
4) Goods worth Rs 225 purchased from Subhash were wrongly entered in the sales Book.
5) An amount of Rs 320 owned by Kishor was omitted from the list of Sundry Debtors.
6) The Purchase Book was overcast by Rs 252.

Q. A purchase of Rs.10,000 has been wrongly posted to the credit of purchase Returns Account but has been correctly entered in the Supplier's Account. The trial Balance would show:

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Purchased goods of Rs. 2,400 from Simran and is correctly entered in the purchases book but posted to the credit of her account in the ledger as Rs. 3,400. Will this error create a difference in the trial balance or not?

The correct option is B Yes, a difference of Rs. 1,000 Credit side of trial balance will show a more balance by Rs. 1,000 due to posting of Rs. 3,400 instead of Rs. 2,400.

The correct option is B
Yes, a difference of Rs. 1,000

Credit side of trial balance will show a more balance by Rs. 1,000 due to posting of Rs. 3,400 instead of Rs. 2,400.