Error and Suspense Account

用戶195248

2007-09-17 1:56 am

Show the requisite journal entries to correct the errors,

(1) A sale of fittings $500 had been entered in the Sales account.
(2) $55 received from sales of old office equipment has been entered in the sales account.
(3) Bank charges $ 38 entered in the cash book have not been posted to the bank charges account.
(4) A sale of goods to B Cross $6990 was correctly entered in the sales book but entered in the personal account as $960

回答 (1)

Bbbowwl

2007-09-18 7:30 pm

✔ 最佳答案

1)
Dr Sales $500
Cr Disposal of Fitting $500
The transaction should be recorded in Disposal Account instead of Sales Account because it is the Sales of Fixed asset but not Trading Stock.
Original Double Entries:
Dr Diposal of Fitting
Cr Fitting
Dr Cash/ Bank/ Debtors
Cr Disposal of Fitting
2)
Dr Sales $55
Cr Disoposal of Office equipment $55
Same handling as Q1
Original Double Entries:
Dr Diposal of Office Equipment
Cr Office Equipment
Dr Cash/ Bank/ Debtors
Cr Disposal of Equipment
3)
Dr Bank Charge $38
Cr Suspense $38
Original Double Entries:
Dr Bank Charge $38
Cr Cash/ Bank $38
4)
Dr Debtor- B Cross $6,030
Cr Supenses $6,030
Only one side of the entries had been done, so another side of entry should be done.
Original Double Entries:
Dr Debtor- B Cross $6,990
Cr Supenses $6,990
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