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Suspense account

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › Suspense account

  • This topic has 1 reply, 2 voices, and was last updated 14 years ago by Vipin .
Viewing 2 posts - 1 through 2 (of 2 total)
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    Posts
  • December 12, 2011 at 9:31 am #51023
    ramonacraciun
    Member
    • Topics: 5
    • Replies: 10
    • ☆

    When Robert trial balance was extracted the total of the debit side was 208462 while total of the credit side was 208642. He opened a suspense account while he checked the entries :
    1 – a cash sale of 50 was debited to cash but no entry in sales account was done
    2 – opening inventory of 1200 was omitted from the trial balance.
    When Robert correct these errors what will be the balance on the suspense account ?
    a- 1070 Debit
    b- 1330 Credit
    c- 1280 Debit
    d- 970 Credit

    Can you pls help me with this question . Thanks

    December 16, 2011 at 8:29 pm #91706
    Vipin
    Member
    • Topics: 151
    • Replies: 365
    • ☆☆☆☆

    debit suspense 180
    now, correcting.
    cr sales 50 dr suspense 50
    dr inventory 1200 cr suspense 1200

    balance on suspense is cr 970.

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