Accounting · Rectification of Errors

A cooperative bank is performing its annual closing for the year ending March 31, 2025. The trial balance has a credit difference of 50,000 which has been temporarily moved to a suspense account. Upon detailed investigation, the following discrepancies are identified: 1. A purchase of banking software for 200,000 was debited to the Office Expenses Account. 2. A customer's cheque for 15,000 which was dishonored was debited to the Bank Account and credited to the Customer's Account. 3. Interest on gold loans amounting to 35,000 was correctly entered in the subsidiary books but was not posted to the Interest Income Account. 4. A credit purchase of stationery for 5,000 was entered twice in the purchase book and posted twice to the ledger. 5. The total of the Sales Book for January was undercast by 10,000. 6. A payment of 25,000 for legal fees was debited to the Legal Fees Account as 52,000. Calculate the impact of these rectifications on the net profit and find the remaining balance of the suspense account.