General Knowledge · Accounting Principles

An accountant preparing final accounts finds a Trial Balance mismatch where the Debit total is Rs 5,50,000 and the Credit total is Rs 5,49,200, opening a Suspense Account with an Rs 800 Credit balance. Later, the following errors are found: (i) A credit sale to A of Rs 1,200 was recorded in the Sales Book but posted to his account as Rs 2,100. (ii) A cash purchase of Rs 3,000 was entered in the Cash Book but completely omitted from the Purchases Account. (iii) The total of the Discount Allowed column, Rs 700, was posted to the credit of Discount Received. (iv) Wages paid for building new office premises, Rs 1,500, were debited to Wages. Which of the following statements regarding the rectification entries and the final balance of the Suspense Account is incorrect?