(a) An inexperienced bookkeeper has drawn up a Trial Balance for the year ended 30 June 2012.

Required: 

Draw up a ‘corrected’ Trial Balance, debiting or crediting any residual error to a Suspense account.

(b) Further investigation of the Suspense account ascertained in (a) above reveals the following errors:

(i) Goods bought from J. Jones amounting to £13 has been posted to his account as £33.

(ii) Furniture which has cost £173 had been debited to the General expenses account.

(iii) An invoice from Suppliers Ltd for £370 had been omitted from the Purchases account, but credited to Suppliers Ltd account.

(iv) Sales on credit to A Hope Ltd for £450 had been posted to the Sales account, but not to the Sales ledger.

(v) The balance on the Capital account had been incorrectly brought forward in the ledger, and should have been £4,291.

(vi) An amount of £86 received from A Blunt, a customer, in settlement of his account had been treated as a cash sale.

(vii) Discount allowed has been under-totalled by £35.

Transcribed Image Text:

Allowance for doubtful debts Bank overdraft Capital Trade payable Trade receivable Discount received Discount allowed Drawings Office furniture General expenses Purchases Returns inwards Rent and rates Salaries Sales Inventory as at 1 July 2011 Accumulated depreciation of furniture Dr £ 200 1,654 2,983 252 1,200 2,155 10,923 314 2,520 2,418 364 Cr 3 4,591 1,637 733 829 330 16,882 24,982 25,002