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The trial balance for XYZ ltd at 31 December 2013 showed a difference of Sh. 8,000, being a shortage on the debit side. Show the...

The trial balance for XYZ ltd at 31 December 2013 showed a difference of Sh. 8,000, being a shortage on the debit side. Show the journal entries to correct the following errors and prepare a suspense account.
1. Extra capital of Sh. 5,000 paid into the bank had been credited to sales account.
2. Sales account had been overcast by Sh. 9000
3. Insurance expense was undercast by Sh. 4,000
4. Private rent of Sh. 1,900 had been debited in the rent account.
5. Cash of Sh. 5000 received from a debtor was entered in the cash book only.
6. A credit purchase of Sh. 5,900 was entered in the books as Sh. 9,500

Answers

Kavungya answered the question on August 17, 2021 at 09:38

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