David, who is a sole trader, had drawn up a trial balance at 31 December 2017 that was out of balance. He placed the difference in a suspense account.
(a)[2]
State two further purposes of a suspense account.
(b)[4]
State four types of error that will not be revealed by the trial balance.
(c)[6]
Prepare the suspense account at 31 December 2017, making the opening balance clear within the account.
(d)[3]
State three advantages to a business of preparing annual financial statements.
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