Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

A trial balance fails to balance, so a suspense account is opened. After checking, the following mistakes are discovered. 1 The debit balance of $450$ in the carriage outwards account has been carried down as $540$. 2 The purchases returns journal has been totalled too high by $100$. 3 A cheque for $50$ received from Alan Green was entered in the credit account of Brian Green. 4 Rent received of $350$ was entered on the debit side of the rent paid account. What opening balance should the suspense account have?

  • Acredit $690$
  • Bcredit $740$
  • Cdebit $690$
  • Ddebit $740$

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI