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today, when l was doing the exercises l met such a strange situation
in revision kit
question 18.5
a gas bill(dr)of 420$ had been recorded in the gas account as 240$here:
the suspense account is created in credit sidebut
question 18.7
a cheque(dr) for 19000$ received from a customer was correctly entered in the cash book but was posted to the control account as 9100$here
the suspense account is created in debit side(according to revision kit)both are essentially the same but differently resolved
why??But they are not the same!!!
The first is a payment and the debit entry in the gas account is too low by the difference of 180, so debit gas account with 180 and credit suspense account.
The second is a receipt and the credit entry in the control account is too law by the difference of 9,900, so credit the control account and debit the suspense account with 9,900.
So many times I have told you to watch my free lectures, but I really do not believe that you have done!!
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