lesson 4 - suspense account

A on 31 mar 2009 the end of the businesss accounting

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an inexperienced bookkeeper to maintain her accounting records. a) On 31 Mar 2009, the end of the business's accounting year, the bookkeeper extracted the following trial balance from the business's records: Trial Balance at 31 Mar 2009 debit($) Credit($) Non-current asset 18,300 provision for depreciation (1 Apr 2008) 2800 Inventory (1 Apr 2008) 3,700 Trade accounts receivables 1825 Trade accounts payables 864 Balance at bank (overdrawn) 382 Capital 26,860 Drawings 7,740 Sales 26080 Purchases 18,327 Running expenses 6,904 Allowance for doubtful debt 90 Suspense 280 57,076 57,076 Required: 1Prepare a corrected version of Gail Dawson's trial balance dated 31 Mar 2009 based on the above information, but with an amended figure for the suspense account. Amended Trial Balance at 31 Mar 2009 debit($) Credit($) Non-current asset 18,300 provision for depreciation (1 Apr 2008) 2,800 Inventory (1 Apr 2008) 3,700 Trade accounts receivables 1,825 Trade accounts payables 864 Balance at bank (overdrawn) 382 Capital 26,860 Drawings 7,740 Sales 26,080 Purchases 18,327 Running expenses 6,904 Allowance for doubtful debt 90 Suspense 280 57,076 57,076 b) the following errors were found in the accounting system after a corrected version of the trial balance above was prepared. i) the total of the sales daybook for Dec 2008 was overstated by $120.
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