Mr. Satvik was unable to agree the Trial Balance last year and wrote off the difference to the Profit and Loss Account of that year. Next year, he…

Date Particulars Dr. ₹ Cr. ₹ (1) Scooter A/c Dr. 27,000 To Profit and Loss Adjustment A/c 27,000 (Purchase of scooter wrongly debited to conveyance account now rectified -capitalization of 27,000, i.e.,30,000 less10% depreciation) (2) Profit & Loss adjustment A/c Dr. 12,400 To suspense A/c 12,400 (Total of return inward book for July, 2024 omitted to be recorded now rectified). (3) Profit & Loss Adjustment A/c Dr. 40,000 To X’s A/c 40,000 (Credit purchase from X 20,000, entered as sales last year, now rectified) (4) Ravish’s A/c Dr. 10,000 To Preetish’s A/c 10,000 (Amount received from Mr. Preetish wrongly posted to the account of Mr. Ravish; now rectified) (5) Suspense A/c Dr. 10,000 To Chandu’s A/c 10,000 (₹ 5,000 received from Chandu wrongly debited to his account; now rectified) (6) Suspense A/c Dr. 10,000 To Profit & Loss Adjustment A/c 10,000 (Carry forward of total of purchase a/c to next page - 65,950 instead of55,950 now rectified) (7) Rohan’s A/c Dr. 20,000 To Profit & Loss Adjustment A/c 20,000 (Sales to Rohan omitted last year; now adjusted) (8) Machinery A/c Dr. 5,600 Suspense A/c Dr. 900 To Profit & Loss Adjustment A/c 6,500 (Freight paid for machine 5,600 was posted to freight A/c at 6,500 now rectified) (9) Profit & Loss Adjustment A/c Dr. 11,100 To Satvik’s Capital A/c 11,100 (Balance of Profit & Loss Adjustment A/c transferred to Capital Account) (10) Satvik’s Capital A/c Dr. 8,500 To Suspense A/c 8,500 (Balance of Suspense Account transferred to Capital Account)