MC70 Which of the following are not true? A Bank Reconciliation Statement Part of the double entry Wat of the double entry wym Sent by the firm to the bank Posted to the ledger our A) and Band) 0 0 and W) and MC71 Which of the following should be entered in the Journal 40 Payment for cash purchase Misture bought on credit Credikale of goods Sale of surplus machinery 395 Parti Mients for Financial (A) and 8) and 10 ) and OM ID and M MC72The Journal A) Port of the double entry system 10 A supplement to the Cash Book 10 Not part of the double entry som ID) Used when other journals have been mad MC73 Given desired cash flow of 200, C146 spent in the period, how much will be bursed at the end of the period? (A) 200 10 00354 D 146 MC74 When a petty oh book is kept there will be Montries made in the generalediger fewer entre made in the generale 10 The same number of entries in the general ledge DO No entries made at all in the general ledger for items pad by petych MC75 Which of the following do not affect via bolence agreement Sales 105 to A. Henrytered in account Cheque payment of 134 for Motorexpertes entered only in Cash Book Purchases 1440 from Browne entered in both accounts 404 Wages count added to incorrectly being totalled 10 too much (A) and 1600) and ) 10 and ID and MC76 Which of the following are not een el principle? Motor experientered in Motor Vehicles account O Purchases of machinery entered in Purchases account ) Sale of $250 to Philips completely immed from books Saleto A Manon entered in Account A W) and and O) and ID) and MC77 Errors are corrected via the Joumal because As the bookkeepers time 180 lave entering them in the ledger FOI much easier to do Dit provide a good record laining the double entry records 396 Chapter 33 Suspense accounts anderers MC78 Which of these errons would be disclosed by the balance? (A) Cheque 95 from Smith entered in Smithcotas ES Selling expenses had been detined to Sales Account 10 Credit sales of 300 entered in both double entry counts DI A purchase of 20 was omitted entirely from the books MC79 fa trist balance total do not agree the different be entered in (A) The Profit and low Account 3) A Suspense Account O A Nominal Account The Capital Account MC80 What should happen if the balance on Super Recount is of a material unt? (A Should be written off to the balance sheet (8) Carry forward the balance to the next period 1 Find the error) before publishing the final account DI Write off to profit and Loss Account Review questions 33.1 A tral balance was extracted from the book of Baker, and it was found that the debit side exceeded the credit side by [40. This amount was entered in the suspense account. The follow ing errors were later discovered and corrected Purchases were over summed by 20. w An amount paid to B Simpkins was debited to the control court as instead of 189 00) Sales were under-summed by C11 Required Write up and rule of the super account it would be lediger 33.2 Your bookkeeper extracted a trial balance on 31 December 2015 which alled to agree by 0210 a shortage on the credit side of the trial balance Auto was opened for the difference In January 20x6 the following errors made in 2005 were found Sales day book had been undercut by 2200 Sales of 616 to Torture had been debited morto Veccount () Rent account had been undercast by 190 w Discounts Allowed account had been overcast by 100 The sale of a computer at net book value had been credited into the Sales account 1230 You are required to a) Show the journal entre necessary to create Draw up the suspense account after the error code been corrected of the net profit had previously been calculated at 31400 for the year ending 31 December 2025, show the calculations of the corrected met profit 33.3A You have extracted a trial balance and drawn accounts for the year ended 31 December 20X7. There was a shortage of the credit side of the trial balance, suspense account being opened for that mount During 20XB the following errors made in 20X7 were found 0 125 received from sales of old office equipment has been entered in the sales account. Purchases day book had been overcast by 10 397 Part 4 Adjustments for Financial statements A private purchase of 10 had been included in the new purchases OM Bank charges 122 entered in the cash book have not been pored to the bar charges account A sale of goods to K Lamb 0230 was correctly entered in the book but entered in the personal account as 3320 Required: Show the requisite journal entries to connect the con CA Write up the suspense account showing the comedic of the non The net profit originally calculated for 2017 (28.00 Show pou cakulation of the correct figure 33.4 Show how each of the following errors would affettual balance agreement b) Computer repairs wat debited to the computer 00 019 discounts received credited to discounts allowed account 00 Stock at close under OM 145 commission received was