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1)The total column of the final month’s cash payments book was miscast before it was posted to the norminal ledger.
2) The discounts received column of the cash paymenst book was overcast.
Which one will make TB not balance and need a suspense account?
Thanks in advance
first one could make a difference as the debit items were true but total of payments was posted wrongly.
second one also make a difference because discount received was posted wrongly but other accounts were posted as they were.Hi man,
Yes, the first one do affect the TB balance.
The answer for the second one does NOT affect TB balance. The answer should be wrong, right?
Cheers@littlestart said:
Hi man,
Yes, the first one do affect the TB balance.
The answer for the second one does NOT affect TB balance. The answer should be wrong, right?
CheersYes, the answer is right and I replied mistakenly about second one. As the discounts column is recorded in the separate entry miscasting of this column doesn’t make any differences but i thought about a kind of writing of the cash book which its payables or receivables columns are written by total of discount and cash amount, in this way the effect of miscasting definitely will be found by the difference which will be appeared in TB.
Good luck
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I fink we need both pen and a pencil
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