For girls I.

Com part I Pass the Rectify Journal entries for the above transactions:

1. A sale of goods Rs. 3750 to Ahmed has been wrongly debited to Hasseb. 2. Rs. 1250 withdrawn by the proprietor for his personal use stands debit to general expenses account. 3. The purchase book was over casted by Rs. 500 4. Sales Return book has been under cast by Rs. 1000 5. An amount of Rs. 2500 received for commission has been worgly entered in the cash book as interest received. 6. The discount column on debit side of Cash book has posited to the credit side of discount a/c Rs. 20.

I.Com part I boys

From the following accounts relates to M/s Zain Brothers, prepare trading and profit and loss account and balance sheet for the year ended as on 31st Decemeber, 2005
Fuel and Power Trade Expenses Capital Bill Payable Return Inward Creditors Wages Plant and Machinery Bad debts Insurance Printing and stationery Adjustments: 200 1400 20000 1000 500 2400 800 8000 400 300 100 Drawings Debtors Bank Repair 2000 4800 2000 100 32800 21000 4000 1600 10000 100 900

Sales
Purchases Opening stock Manufacturing expenses Investment Purchases Return Commission Cr.

1. Interest on capital @ 5% 2. Rs. 100 interest is receivable 3.Wages payable is Rs. 200 4. Depreciate plant by 5% 5. Closing stock is Rs. 5500

B .Com part I boys Mr. Affaq finds excess debit of Rs. 800 in the Trial Balance. He places the difference to a newely opened suspense account to balance the trial balance. Later he discovers the following discrepancies. a. An item of sale of Rs. 5900 was posted to the sales a/c as Rs. 9500. b. The total of the sales returns book has been added Rs. 100 short. c. An amount of Rs. 3700 received from a customer has been credited to his account as Rs. 7300. d. Rs. 150000 paid for purchase of building has been charged to the ordinary purchases account. e. A sum of 9500 written off from building a/c as depreciation has not been posted to depreciation a/c. f. An amount received form a debtor of Rs. 9700 has been debited to his account as Rs. 7900. Required: Give the rectifying entries and prepare the suspense account. State also the ultimate effect to these correcting entries on the profit of the business.