Homework Help is Here – Start Your Trial Now!
Business
Accounting
128361 MENTS was extracted by as at 30 June 2018. als to agree. 30 June 2018 Dr with each other. Trial Balance as at 31 December 2017 32.7X D. Fearon extracted the following trial balance from his books. He could not get the totals to agree Dr Cr Cr $ $ $ $ 87,050 Capital 25,621 62,400 Drawings 13,690 110° 305 410 Sales 94,630 Multiple Each multipl answers: (A) question and (B), (C) or (D piece of pape of questions written atter When you your answer 3,168 Purchases 258 60,375 61 A debit 595 Returns inwards and outwards 1,210 1,109 10,000-35 Wages and salaries 2,000 14,371 12,490 Sundry expenses чут -598 8,120 5,045 Inventory 1.1.2017 8,792 168 account (A) we (B) we (C) we h that 6,790+85 Accounts receivable and accounts 16811,370 4,290 (D) we payable 4,520 Loan from J. Chandler 2000 62 Inventor 5,000 17,017 Equipment 16,000 period is 1,134 Bank 1500 (A) carri 5,790 109,522 109,522 Suspense (B) carri 1,546 (C) tran 132,196 132,196 nd: by $350. ercast by $100. 50, have been entered in n the fixtures account. was entered in the y, but not in the upplier of $490 had been s account in error. account to record the e after all corrections The following errors are discovered: 1 Purchases day book was overcast by $258. A repayment of loan $2,000 was debited in error to the wages account. 2 3 A cheque payment for equipment $1,500 has been entered in the equipment account but not in the cash book. 4 Returns outwards $168 have been entered in the returns outwards day book but not in the supplier's account. 5 Sundry expenses $44 have been entered in the cash book but not in the sundry expenses account. You are required to: (a) draw up the suspense account, showing corrections (b) redraft the trial balance after all corrections have been made. acco (D) ded 63 A new b month S at a trac at full re amount inventor (A) $96 (B) $86 64 Which o agreeme (i) Purc C.C (ii) Sale as $ (iii) Che only (iv) Mot mot (A) (i) ar (B) (ii) o (C) (ii) a (D) (i), (i

128361 MENTS was extracted by as at 30 June 2018. als to agree. 30 June 2018 Dr with each other. Trial Balance as at 31 December 2017 32.7X D. Fearon extracted the following trial balance from his books. He could not get the totals to agree Dr Cr Cr $ $ $ $ 87,050 Capital 25,621 62,400 Drawings 13,690 110° 305 410 Sales 94,630 Multiple Each multipl answers: (A) question and (B), (C) or (D piece of pape of questions written atter When you your answer 3,168 Purchases 258 60,375 61 A debit 595 Returns inwards and outwards 1,210 1,109 10,000-35 Wages and salaries 2,000 14,371 12,490 Sundry expenses чут -598 8,120 5,045 Inventory 1.1.2017 8,792 168 account (A) we (B) we (C) we h that 6,790+85 Accounts receivable and accounts 16811,370 4,290 (D) we payable 4,520 Loan from J. Chandler 2000 62 Inventor 5,000 17,017 Equipment 16,000 period is 1,134 Bank 1500 (A) carri 5,790 109,522 109,522 Suspense (B) carri 1,546 (C) tran 132,196 132,196 nd: by $350. ercast by $100. 50, have been entered in n the fixtures account. was entered in the y, but not in the upplier of $490 had been s account in error. account to record the e after all corrections The following errors are discovered: 1 Purchases day book was overcast by $258. A repayment of loan $2,000 was debited in error to the wages account. 2 3 A cheque payment for equipment $1,500 has been entered in the equipment account but not in the cash book. 4 Returns outwards $168 have been entered in the returns outwards day book but not in the supplier's account. 5 Sundry expenses $44 have been entered in the cash book but not in the sundry expenses account. You are required to: (a) draw up the suspense account, showing corrections (b) redraft the trial balance after all corrections have been made. acco (D) ded 63 A new b month S at a trac at full re amount inventor (A) $96 (B) $86 64 Which o agreeme (i) Purc C.C (ii) Sale as $ (iii) Che only (iv) Mot mot (A) (i) ar (B) (ii) o (C) (ii) a (D) (i), (i

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter12: Intangibles
Section: Chapter Questions
Problem 2P
See similar textbooks
icon
Related questions
Question
128361 MENTS was extracted by as at 30 June 2018. als to agree. 30 June 2018 Dr with each other. Trial Balance as at 31 December 2017 32.7X D. Fearon extracted the following trial balance from his books. He could not get the totals to agree Dr Cr Cr $ $ $ $ 87,050 Capital 25,621 62,400 Drawings 13,690 110° 305 410 Sales 94,630 Multiple Each multipl answers: (A) question and (B), (C) or (D piece of pape of questions written atter When you your answer 3,168 Purchases 258 60,375 61 A debit 595 Returns inwards and outwards 1,210 1,109 10,000-35 Wages and salaries 2,000 14,371 12,490 Sundry expenses чут -598 8,120 5,045 Inventory 1.1.2017 8,792 168 account (A) we (B) we (C) we h that 6,790+85 Accounts receivable and accounts 16811,370 4,290 (D) we payable 4,520 Loan from J. Chandler 2000 62 Inventor 5,000 17,017 Equipment 16,000 period is 1,134 Bank 1500 (A) carri 5,790 109,522 109,522 Suspense (B) carri 1,546 (C) tran 132,196 132,196 nd: by $350. ercast by $100. 50, have been entered in n the fixtures account. was entered in the y, but not in the upplier of $490 had been s account in error. account to record the e after all corrections The following errors are discovered: 1 Purchases day book was overcast by $258. A repayment of loan $2,000 was debited in error to the wages account. 2 3 A cheque payment for equipment $1,500 has been entered in the equipment account but not in the cash book. 4 Returns outwards $168 have been entered in the returns outwards day book but not in the supplier's account. 5 Sundry expenses $44 have been entered in the cash book but not in the sundry expenses account. You are required to: (a) draw up the suspense account, showing corrections (b) redraft the trial balance after all corrections have been made. acco (D) ded 63 A new b month S at a trac at full re amount inventor (A) $96 (B) $86 64 Which o agreeme (i) Purc C.C (ii) Sale as $ (iii) Che only (iv) Mot mot (A) (i) ar (B) (ii) o (C) (ii) a (D) (i), (i
Transcribed Image Text:128361 MENTS was extracted by as at 30 June 2018. als to agree. 30 June 2018 Dr with each other. Trial Balance as at 31 December 2017 32.7X D. Fearon extracted the following trial balance from his books. He could not get the totals to agree Dr Cr Cr $ $ $ $ 87,050 Capital 25,621 62,400 Drawings 13,690 110° 305 410 Sales 94,630 Multiple Each multipl answers: (A) question and (B), (C) or (D piece of pape of questions written atter When you your answer 3,168 Purchases 258 60,375 61 A debit 595 Returns inwards and outwards 1,210 1,109 10,000-35 Wages and salaries 2,000 14,371 12,490 Sundry expenses чут -598 8,120 5,045 Inventory 1.1.2017 8,792 168 account (A) we (B) we (C) we h that 6,790+85 Accounts receivable and accounts 16811,370 4,290 (D) we payable 4,520 Loan from J. Chandler 2000 62 Inventor 5,000 17,017 Equipment 16,000 period is 1,134 Bank 1500 (A) carri 5,790 109,522 109,522 Suspense (B) carri 1,546 (C) tran 132,196 132,196 nd: by $350. ercast by $100. 50, have been entered in n the fixtures account. was entered in the y, but not in the upplier of $490 had been s account in error. account to record the e after all corrections The following errors are discovered: 1 Purchases day book was overcast by $258. A repayment of loan $2,000 was debited in error to the wages account. 2 3 A cheque payment for equipment $1,500 has been entered in the equipment account but not in the cash book. 4 Returns outwards $168 have been entered in the returns outwards day book but not in the supplier's account. 5 Sundry expenses $44 have been entered in the cash book but not in the sundry expenses account. You are required to: (a) draw up the suspense account, showing corrections (b) redraft the trial balance after all corrections have been made. acco (D) ded 63 A new b month S at a trac at full re amount inventor (A) $96 (B) $86 64 Which o agreeme (i) Purc C.C (ii) Sale as $ (iii) Che only (iv) Mot mot (A) (i) ar (B) (ii) o (C) (ii) a (D) (i), (i
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS