A-LevelAccountingReconciliation and verification9706/12 · Feb/Mar 2025 · Q91 Mark
The totals of the trial balance of a business did not agree. A suspense account was opened for the difference. The following errors were then discovered. 1 The total of the sales journal of $16000 had been posted to the debit of the purchases account. 2 $7000 had been correctly entered in the rent received account but had been debited as $700 in the cash book. After correcting these errors, the suspense account was eliminated and the trial balance totals agreed. Which amount appeared for the suspense account in the trial balance before the corrections were made?
A$9700 credit
B$22 300 credit
C$25 700 credit
D$38 300 credit
✓ Correct answer
C: $25 700 credit
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