The totals on Maura's trial balance at 30 November 2013 failed to agree. The debit column totalled $230 161; the credit column totalled $189521. The difference was entered in a suspense account. On further examination of the books of account, the following errors were found: 1 Motoring expenses $1700 had been entered in the vehicles account. 2 The total of the sales journal for July $16320 had been posted to the debit side of the purchases account. 3 The total of rent received $4000 for the year had been entered as a debit entry in the rent payable account. 4 Maura had withdrawn goods for her own use $4700 during the year. These goods had been entered on the debit side of the purchases account. Required Prepare: a journal entries to correct the errors ba suspense account.

The totals on Maura's trial balance at 30 November 2013 failed to agree. The debit column totalled $230 161; the credit column totalled $189521. The difference was entered in a suspense account. On further examination of the books of account, the following errors were found: 1 Motoring expenses $1700 had been entered in the vehicles account. 2 The total of the sales journal for July $16320 had been posted to the debit side of the purchases account. 3 The total of rent received $4000 for the year had been entered as a debit entry in the rent payable account. 4 Maura had withdrawn goods for her own use $4700 during the year. These goods had been entered on the debit side of the purchases account. Required Prepare: a journal entries to correct the errors ba suspense account.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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If a $335.00 debit item in the general journal is posted as a credit: By how much will the trial balance be out of balance? Explain how you might detect such an error.
! Required information [The following information applies to the questions displayed below.] On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $16,000. Jarden prepares a schedule of its December 31 accounts receivable by age. Accounts Receivable $ 840,000 336,000 67,200 33,600 13,440 View transaction list
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