A trial balance was extracted from the books of N. Paisey, and it was found that the
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A trial balance was extracted from the books of N. Paisey, and it was found that the debit side exceeded the credit side by £200. This amount was entered in the suspense account. The following errors were later discovered and corrected:
(1) Purchases were over-summed by £129.
(2) An amount paid to I. Lane was debited to the control account as £98 instead of £89.
(3) Sales were under-summed by £62.
Required:
Write up and rule off the suspense account as it would appear in Paisey's ledger.
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Related Book For
Frank Woods Business Accounting Volume 1
ISBN: 9781292084664
13th Edition
Authors: Alan Sangster, Frank Wood
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