1.4. Reconciliation and verification
A subsection of Accounting, 9706, through 1. Financial accounting (AS Level)
Listing 10 of 385 questions
A trial balance does not balance. The difference has been entered in a suspense account. The following errors are found. A cash payment of $630 for rent has been credited in the cash book and debited to the irrecoverable debts account. The provision for depreciation account has been overcast by $960. The purchases ledger control account balance of $48 300 has been included as a debit balance. What is the correcting debit entry to the suspense account?
9706_m23_qp_12
MCQ
2023
Paper 1, Variant 2
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A business prepared a trial balance that included a suspense account. Draft financial statements were prepared which showed a profit for the year of $85 000. The following errors were then discovered. Discounts allowed of $1000 had been debited to the discounts received account. Motoring expenses of $4000 had been debited to the purchases account. A payment for purchases of $5000 had been correctly entered in the cash book but credited to the drawings account. After correcting these errors the balance on the suspense account was eliminated. What was the revised profit for the year?
9706_m24_qp_12
MCQ
2024
Paper 1, Variant 2
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Questions Discovered
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