Thursday, 5 October 2017

ACC2231 - Error and Suspense Account (Exercise 3)

See? I think that's enough for now....

Examples     Correcting journal entries
                       $
A credit sale of $150 to Mr. Chan has been omitted from his account.

A sale to C. Lee for $250 was correctly entered in the sales book but entered in C. Lee’s account as $520.

A credit sale of $100 has been credited to H. Cheung’s account

Sales day book was overcast by $200

Sales account was undercast by $40

The total of the sales account of $1,500 has been omitted from the trial balance

The total of the sales account of $1,500 has been extracted as $1,200 in the trial balance.

The total of the sales account of $1,500 has been extracted to the debit column of the trial balance


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