please help to asnwer. thanks and appreciate it :) topic: suspense account and...
50.1K
Verified Solution
Link Copied!
Question
Accounting
please help to asnwer. thanks and appreciate it :)
topic: suspense account and errors
27.13A Journalise the matters arising from the following items in the books of B. Danby, including the narrative in each case. Note that for this purpose cash and bank items may be journalised. In the case of those items which gave rise to a difference in the trial balance you are to assume that the difference was previously recorded in a suspense account. (a) Discounts allowed during March amounting to 62 were posted to the credit of the dis- counts received account. (b) The sales day book was overcast by 100. (c) The motor van standing in the ledger at 1,800 was exchanged for fittings valued at 1,400 plus a cheque for 700. (d) 470 has been included in the wages account and 340 in the purchases account. These amounts represent expenditure on an extension to the business premises. (e) A cheque for 86 received from C. Blimp and discount of 4 allowed to him were correctly recorded but, when the cheque was subsequently dishonoured, no further entries were recorded. ( A cheque for 76 paid to D. Hood was correctly recorded in the cash book but was posted in error to D. 1. Hoade's account as 67
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
