Question
Error and Suspense Account Sanjeev, a trader, prepared his trial balance on 31 January 2023. The totals of the trial balance did not agree. Sanjeev
Error and Suspense Account Sanjeev, a trader, prepared his trial balance on 31 January 2023. The totals of the trial balance did not agree. Sanjeev entered the difference, a credit balance of RM1110, in a suspense account. The following errors were later discovered:
i The wages account had been undercast by RM270.
ii Rent received RM1,000 had been correctly entered in the bank account but no other entry has been made.
iii Good purchased on credit from Simon RM680 had been correctly entered in the purchases account but posted to the account of Simone.
iv No entry has been made for stationery paid in cash by RM35.
v Motor vehicle repairs for RM700 had been debited to the motor vehicles account.
questions
1. Show the journal entries to correct the errors
2. Prepare the suspense account
3. Name the type of error made in ii,iii and iv
*please use excel*
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