Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The totals on Maura's trial balance at 30 November 2013 failed to agree. The debit column totalled $230 161; the credit column totalled $189521. The

image text in transcribed

The totals on Maura's trial balance at 30 November 2013 failed to agree. The debit column totalled $230 161; the credit column totalled $189521. The difference was entered in a suspense account. On further examination of the books of account, the following errors were found: 1 Motoring expenses $1700 had been entered in the vehicles account. 2 The total of the sales journal for July $16320 had been posted to the debit side of the purchases account. 3 The total of rent received $4000 for the year had been entered as a debit entry in the rent payable account. 4 Maura had withdrawn goods for her own use $4700 during the year. These goods had been entered on the debit side of the purchases account. Required Prepare: a journal entries to correct the errors b a suspense account

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

Recommended Textbook for

Cost Accounting A Managerial Emphasis

Authors: Charles T. Horngren, George Foster, Srikant M. Datar

10th International Edition

0130851779, 978-0130851772

More Books

Students also viewed these Accounting questions

Question

OUTCOME 5 Discuss sexual harassment as an employment equity issue.

Answered: 1 week ago