The trial balance：練習題

A purchase of office equipment for \( \$1,200 \) was mistakenly recorded in the purchases account. Which type of error has been made?

Which type of error would not cause a trial balance to disagree?

Identify one specific type of accounting error that would be present in the ledger but would not prevent the trial balance from balancing.

A trial balance failed to agree by \(\$360\), with the credit total being higher. It was discovered that a purchase of equipment for \(\$2,000\) was debited to the Purchases account, and a sales invoice for \(\$180\) was omitted from the customer's ledger account. Calculate the balance remaining on the suspense account after correcting these errors.

A book-keeper has completed the ledger accounts for a month and is now preparing a trial balance.

(a) Explain one reason why the trial balance is useful before preparing the financial statements.
(b) List two types of errors that do not affect the balancing of a trial balance.

A trial balance prepared on 30 June 2024 failed to agree. The debit column total was \( \$124,650 \) and the credit column total was \( \$124,820 \). A suspense account was opened for the difference.

The following errors were later discovered:
1. The sales journal had been overcast by \( \$100 \).
2. A payment for insurance, \( \$75 \), had been correctly entered in the cash book but had not been posted to the insurance account.
3. Cash received from M. Tan, a credit customer, \( \$210 \), had been debited to M. Tan's account and credited to the cash account.

Required:
(a) Prepare the journal entries to correct errors 1, 2, and 3 (narratives are not required).
(b) Prepare the suspense account, starting with the original difference, to show how the account is cleared.