Page 399 - F3 -FA Integrated Workbook STUDENT 2018-19

Answers

Chapter 16

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

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1,245 1,245

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