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this stat is confusing me much …. purchase day book being undercasted …does this entry give rise to suspense account ? …somewhere i found written as it wont … and in some places it had been rectified as purchases (dr) suspense (cr) please sir let me know the correct ans
Have you watched my free lectures on Books of Prime Entry? If not then I do suggest that you do. (The lectures are a complete free course for Paper F3 and cover everything needed to be able to pass the exam well)
If the day book is added wrongly then the sane wrong total will have been entered in the purchases account and the payables account. Although the figures will be wrong, the debit will equal the credit and therefore the suspense account is not affected.
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