Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

The trial balance of a business failed to balance, so a suspense account was opened. These errors were then found. 1. The sales journal total of $9150 had been credited to both the sales account and the sales ledger control account. 2. The purchases journal total of $3450 had been entered correctly in the purchases account but as $3350 in the purchases ledger control account. 3. Motor expenses of $6450 paid by cheque had been recorded only in the bank account. What was the opening balance in the suspense account?

  • A$15700 credit
  • B$15700 debit
  • C$24650 credit
  • D$24650 debit

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