Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

After you have prepared the trial balance shown below, you notice the trial balance cannot be balance due to following errors: 1. Cash payment of

After you have prepared the trial balance shown below, you notice the trial balance cannot be balance due to following errors:

1. Cash payment of RM500 for stationery was completely omitted from the books.

2. Discount received of RM2,000 was debited to discount allowed account.

3.Sales of RM3,800 to Molly was not Recorded in her account.

4. RM1,000 for upkeep of motor vehicle was debited to motor vehicle account. No depreciation has yet to be provided.

Required:

(a) Prepare the Suspense Account. [5MARKS]

**please show me the working for suspense account

image text in transcribedimage text in transcribed

hand Building Trial Balance at 31st December, 2019 Amo.contor.. Amantlero) 300,000 200.000 Motor Vehicles 120,000 Plant & Machinery 70,000 Retained Profit 312150 8% Debent are 180,000 Ordinary Shares 200, CTO Aeccemulated Depreciation on Building 60,000 Motor Vehicles 69250 Plant & Machinery 40,000 Sales Return - 3600 Puschase Return 4100 Sales ..... 700,000 Purchase 400, oro Sales Discount sono Puchax Discount 3500 Opening Inventory 7% Prof. Share 50,000 Provision for Bad debt- 0600 @2000 Trade Receivable i 26700 Trade Payabile 43200 Administrative expeine- 18000 S2000 Staff Training lost Amount (Cr.) Amountler 4006 12800 27006 90,000 Bad debt Expe UK Rental Banh Oves draft Wages & Salaries Debenture Inteest Suspense Account IS 400 US100 6000 quo 16,49,800 16.49,800 11 49800

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions