Page 221 - F3 -FA Integrated Workbook STUDENT 2018-19

The trial balance, accounting errors and suspense accounts

Example 1 cont.

Solution

Debit $ Credit $
1 Rhodes a/c 170 Princeton a/c 170
payables’ ledger payables’ edger
2 Purchases 200 Payables’ ledger 200
control account

3 Machinery asset 150 Purchases 150
4 Suspense 260 Discounts received 260
5 Suspense 18 Cleaning 18

6 Retained earnings 1,200 Suspense 1,200
7 Prepayment 45 Suspense 45

Suspense account

Details $ Details $
Balance per TB 967 Prepayment 45
Discount received 260 Dividend paid 1,200

Cleaning 18

––––– –––––
1,245 1,245
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Illustrations and further practice

Now try questions TYU 1 and TYU 2 from Chapter 16 of the Study Text.

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