a) Show the journal entries to correct the errors b) Write up suspense account showing the correction of errors. c) The net profit calculated for 2014 was RM28,400. Prepare the Statement of Corrected Net Profit for the year Question 3 The trial balance for Yummy Bakes was drawn up for the year ended 31 December 2017. There was a shortage of RM80 on the debit side of the trial balance, a suspense account being opened for that amount. During 2018, the following errors made in 2017 were found: i. Sales overcast by RM90 ii. Insurance understate by RM40 ii Cash received from a debtor, Silvi, entered in the cash account only RM50 iv. Printing expense of RM59 by cash is entered in the books, debit and credit as RM95 Required: a) Show the journal entries to correct the errors b) Write up suspense account showing the correction of errors c) The net profit calculated for 2017 was RM14,234. Prepare the Statement of Corrected Net Profit for the year. nes this Learning Obje 2. d. CR Accumula 3,800 Question 4 The draft of trial balance of Sentiasa Untung Enterprise at 30 September 2017 could not be balanced by RM450, the credit side being greater than the debit side. The differences has been entered in a suspense account. The business proceeded with the preparation of the draft final accounts and these showed a net profit of RM12,500. Subsequently, the following matters were revealed a. Credit purchase of inventories RM8,500 had been correctly debited to inventories account but had been credited to Accounts Payable Account as RM5,800 b. Inventories undervalued by RM1,500 c. The debtors account was understate by RM500 d. Bank charges RM250 was not charged in cash book, but appear in the bank chargers account. e. A water bill RM150, was not recorded. f. Repairs on building RM1,000 incorrectly posted to building account g. A cheque paid to AP Mad Dono for RM4,200 had been debited to AP Mad Rono h. The advertising accounts showed RM6,700. It should have been RM7,600 AR Required: a) Show the journal entries to correct the errors Satas Write up suspense account showing the correction of errors. c) Prepare the Statement of Corrected Net Profit for the year adjusting eneries have been reemnd. has total debits Question 4 The draft of trial balance of Sentiasa Untung Enterprise at 30 September 2017 could not be balanced by RM450, the credit side being greater than the entered in a suspense account. The business debit side. The differences has been proceeded with the preparation of the draft final accounts and these showed a net profit of RM12,500. Subsequently, the following matters were revealed a. Credit purchase of inventories RMS,500 had been correctly debited to inventories account but had been credited to Accounts Payable Account as RM5,800 b. Inventories undervalued by RM1,500 c. The debtors account was understate by RM500 d. Bank charges RM250 was not charged in cash book, but appear in the bank chargers account. e. A water bill RM150, was not recorded. Repairs on building RM1,000 incorrectly posted to building account g. A cheque paid to AP Mad Dono for RM4,200 had been debited to AP Mad Rono h. The advertising accounts showed RM6,700. It should have been RM7,600 2 Required a) Show the journal entries to correct the errors b) Write up suspense account showing the correction of errors. c) Prepare the Statement of Corrected Net Profit for the year. 2a a) Show the journal entries to correct the errors b) Write up suspense account showing the correction of errors. c) The net profit calculated for 2014 was RM28,400. Prepare the Statement of Corrected Net Profit for the year Question 3 The trial balance for Yummy Bakes was drawn up for the year ended 31 December 2017. There was a shortage of RM80 on the debit side of the trial balance, a suspense account being opened for that amount. During 2018, the following errors made in 2017 were found: i. Sales overcast by RM90 ii. Insurance understate by RM40 ii Cash received from a debtor, Silvi, entered in the cash account only RM50 iv. Printing expense of RM59 by cash is entered in the books, debit and credit as RM95 Required: a) Show the journal entries to correct the errors b) Write up suspense account showing the correction of errors c) The net profit calculated for 2017 was RM14,234. Prepare the Statement of Corrected Net Profit for the year. nes this Learning Obje 2. d. CR Accumula 3,800 Question 4 The draft of trial balance of Sentiasa Untung Enterprise at 30 September 2017 could not be balanced by RM450, the credit side being greater than the debit side. The differences has been entered in a suspense account. The business proceeded with the preparation of the draft final accounts and these showed a net profit of RM12,500. Subsequently, the following matters were revealed a. Credit purchase of inventories RM8,500 had been correctly debited to inventories account but had been credited to Accounts Payable Account as RM5,800 b. Inventories undervalued by RM1,500 c. The debtors account was understate by RM500 d. Bank charges RM250 was not charged in cash book, but appear in the bank chargers account. e. A water bill RM150, was not recorded. f. Repairs on building RM1,000 incorrectly posted to building account g. A cheque paid to AP Mad Dono for RM4,200 had been debited to AP Mad Rono h. The advertising accounts showed RM6,700. It should have been RM7,600 AR Required: a) Show the journal entries to correct the errors Satas Write up suspense account showing the correction of errors. c) Prepare the Statement of Corrected Net Profit for the year adjusting eneries have been reemnd. has total debits Question 4 The draft of trial balance of Sentiasa Untung Enterprise at 30 September 2017 could not be balanced by RM450, the credit side being greater than the entered in a suspense account. The business debit side. The differences has been proceeded with the preparation of the draft final accounts and these showed a net profit of RM12,500. Subsequently, the following matters were revealed a. Credit purchase of inventories RMS,500 had been correctly debited to inventories account but had been credited to Accounts Payable Account as RM5,800 b. Inventories undervalued by RM1,500 c. The debtors account was understate by RM500 d. Bank charges RM250 was not charged in cash book, but appear in the bank chargers account. e. A water bill RM150, was not recorded. Repairs on building RM1,000 incorrectly posted to building account g. A cheque paid to AP Mad Dono for RM4,200 had been debited to AP Mad Rono h. The advertising accounts showed RM6,700. It should have been RM7,600 2 Required a) Show the journal entries to correct the errors b) Write up suspense account showing the correction of errors. c) Prepare the Statement of Corrected Net Profit for the year. 2a