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A suspense account shows a credit balance of $130. Which of the following could be due to ?
A Omitting a sale of $130 from the sales ledger
B Recording a purchase of $130 twice in the purchases account
C Failing to write off a bad debt of $130
D Recording an electricity bill paid of $65 by debiting the bank account and crediting the electricity accountCan any one tell me why the answer is option B ?
The suspense account shows a debit balance of $100. What could this balance be due to ?
A Entering $50 received from A turner on the debit side of A Turner’s account
B Entering $50 received from A turner on the credit side of A Turner’s account
C Undercasting the sales day book by $100
D Undercasting the purchases account by $100Can any one help me why the answer is option D ?
Why 1st error is effecting the net profit ?
they are pruchases they should be included in COS !