- May 25, 2020 at 1:59 pm
Hi Sir, Can you please help me in this question ?
My calculations are after the question.
Marty has closed off his ledger accounts and has extracted the following balances to prepare his trial balance:
Trade payables 36,701
Non-current assets 69,175
Returns inwards 2,461
Cash at bank 16,866
What balance is required on Marty’s suspense account to balance the trial balance?
A. $245 Dr
B. $4,677 Cr
C. $245 Cr
D. $4,677 Dr
I calculated it as follows
DR SIDE : Purchases 55692 + NCA 69175 + Return Inwards 2461 + Drawings 22188 + Cash At Bank 16866 = 166382
Cr SIDE : Sales 78612 + Trade Payables 36701 + Capital 60414 = 175727
Therefore The balance on Suspense account should be 9345 Dr
In the options given, there is no answer like this. I would be glad if you could help
I unfortunately don’t have the answer to this as it is a real ACCA exam question which my platinum learning provider centre has given me in a document.May 25, 2020 at 2:29 pm
The correct answer is indeed 9,345 Dr.
Whoever gave you the question has either missed something out of the question or has mistyped it.
(They may have told you that it is a past exam question, but if it is then it is an extremely old question because the ACCA stopped publishing Paper FA exam questions many years ago. Nobody has access to them – not even platinum learning providers 🙂 )
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