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Suspense and error

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FM Exams › Suspense and error

  • This topic has 1 reply, 2 voices, and was last updated 3 years ago by John Moffat.
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  • Author
    Posts
  • May 26, 2022 at 10:38 am #656488
    Liponderio
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    How can the solution for this question be : J Jones extracted the following trial balance from his books on 31 January 19-2
    Capital….,……………………………….,……………………….. .. 7450
    Drawings……………………………….3000
    Stock,………………….,……………….2500
    Trade debtors……,,…………………2950
    Trade creditors………,…,…………..,……………,……………,..2684
    Shop fittings….,……………………..1530
    Purchases,………….,,………………..5140
    Sales……………………………………,………………………………7460.
    General expenses………….,………860

    Discount received …………………………….,,……………………40

    Cash at bank …..,,……………………1660

    Returns outward………………………………………………………40
    THE TOTALS: DEBIT=£17640. CREDIT=£17674

    The following errors and omissions were subsequently discovered:

    a) A purchase of shop fittings £320 had been debited to purchases account.

    b). Sales invoice of £150 entered in the sales day book had not been posted to the customers personal account.
    c). A credit note for £30 issued by J Jones to a customer had been completely omitted from the books of accounts.
    d). A credit Balance of £16 in the purchases ledger had been omitted from the trial balance.
    e). The sales day book was under cast by £100 in December 19-1

    Draw up a corrected trial balance. Show all workings.

    THANKS.

    May 26, 2022 at 2:32 pm #656496
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54749
    • ☆☆☆☆☆

    Nothing in this question is examinable in Paper FM. It is Paper FA and our free lectures for Paper FA cover everything needed to be able to answer this question.

    (We do not supply answers to test questions. You must have an answer in the same book in which you found the question, so ask about whatever it is in the answer that you are not clear about, and then we will explain. But ask in the Paper FA Ask the Tutor Forum and not in the Paper FM forum.)

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  • The topic ‘Suspense and error’ is closed to new replies.

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