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acc Nova Bemard is the owner of a retall busuness. she has employed an inexperienced book keeper to maintain her accounting records. (A) On 31
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Nova Bemard is the owner of a retall busuness. she has employed an inexperienced book keeper to maintain her accounting records. (A) On 31 Mareh 2016 the end of the business's accounting year, the book-keeper extacted the fotowing that batance from the business reconts: Traa Balance at 31Mareh 2015 Adibional information 1a. A corrected version of Nova Bemard's trial balance dated 31 Mareh 2016 based an the above information, but with an amended figure for the suspense account. 16. The following errors were found in the accounting system after a corrected version of the trial balance above was prepared. The total of the sales day book for December 2016 had been overstated by 5120. In January 2016 some new office equipment had been purchased for $360, this had been debited to the purchases account A payment by cheque to a creditor $216, had been entered in the book as $261. A credit notes for 537 sent to a customer had been overlooked The owner had withdrawn a cheque for $80 tor private use in October 2016; both the bank and drawing account had been eredited with this amount. Required: A. Prepare Journal entries to correct each of these errors. B. The suspense accounts. (Start with the amount in the corrected tral balance given in answers to additional information 1 above, and include any entries arising from the correction of the errors) Step by Step Solution
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