A-LevelAccountingReconciliation and verification9706/12 · Oct/Nov 2015 · Q141 Mark
Rachel's trial balance did not agree and she placed the difference in a suspense account. The following shows how four errors have been corrected using the suspense account. | suspense account | $ | | $ | |---|---|---|---| | difference in trial balance | 200 | discount received | 310 | | discount allowed | 160 | sundry expenses | 390 | | cash | 340 | | | | | 700 | | 700 | The profit for the year before the errors were corrected was $35400. What is the correct profit for the year?
A$34 520
B$34 540
C$34 860
D$35 480
✓ Correct answer
C: $34 860
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