Accounting 9706 · AS & A Level · Reconciliation and verification
Reconciliation and verification — practice question
Shamal keeps a complete set of accounting records. He drew up a trial balance at 30 September 2021 which failed to balance, so he opened a suspense account for the difference. He has now pinpointed the following six errors. There were no other errors.
(a)[6]
Prepare the suspense account at 30 September 2021, making the opening balance clear.
(b)[3]
Complete the table to name the type of error for each of errors 1, 2 and 3 that Shamal has identified.
(c)[4]
Explain two advantages to a business of preparing a purchases ledger control account.
(d)[2]
State two items that would be recorded on the credit side of a purchases ledger control account.
Worked solution & mark scheme
This 15-mark question has a full step-by-step worked solution and mark scheme.