Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

A trader drew up a trial balance that failed to balance. The difference was transferred to a suspense account. The following errors have now been discovered. 1 The returns inwards account had been overcast by $90. 2 A payment of $200 for rent was recorded correctly in the cash book but had not been posted to the rent account. What was the opening balance of the suspense account?

  • A$110 credit
  • B$110 debit
  • C$290 credit
  • D$290 debit

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