The difference in the year-end Trial Balance was placed in a Suspense account. Subsequent inquiries revealed the

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The difference in the year-end Trial Balance was placed in a Suspense account. Subsequent inquiries revealed the following errors. Upon correction of all of them the Suspense account was fully eliminated. What was the amount placed in suspense?

(i) Sales account total has been added as £128,500 instead of £138,500

(ii) Return inwards of £3,200 was not posted to the customer

(iii) Carriage inwards amounting to £6,500 was listed as a credit balance

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 31, 2023 02:26 AM

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The difference in the year-end Trial Balance was placed in a Suspense account. Subsequent inquiries revealed the

Question:

a £200 Dr b £200 Cr c £6,700 Dr C d £6,700 Cr

Step by Step Answer:

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Financial Accounting An Introduction

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