管制程序：試算表、統制帳戶與錯誤更正：練習題

A bookkeeper mistakenly recorded the purchase of a motor vehicle for \( \$12,000 \) by debiting the Motor Expenses account and crediting the Bank account. This is an example of which type of error?

A business prepares a trial balance at the end of its financial year. Which of the following errors would cause the trial balance totals to disagree, necessitating the opening of a suspense account?

A business had a Trade Payables Control Account balance of \( \$12,450 \) on 1 May. During May, the following occurred:
- Credit purchases: \( \$18,200 \)
- Payments to suppliers: \( \$15,900 \)
- Returns outwards: \( \$450 \)
- Contra entry with the receivables ledger: \( \$200 \)
What is the closing balance of the Trade Payables Control Account at 31 May?

A trial balance failed to agree, and a suspense account was opened with a credit balance of \( \$140 \). The following errors were found:
1. A purchase of equipment for \( \$600 \) was correctly entered in the cash book but debited to the repairs account.
2. The sales account was undercast by \( \$100 \).
3. A payment to a supplier of \( \$240 \) was debited to the supplier's account as \( \$24 \).
Determine the remaining balance on the suspense account after correction.

A bookkeeper is attempting to prepare a trial balance and discovers it does not balance. The debit side totals \( \$56,700 \) and the credit side totals \( \$55,900 \).

(a) State the value of the opening balance in the suspense account and indicate whether it is a debit or credit balance.
(b) Explain two limitations of a trial balance even if the debit and credit totals are equal.
(c) Journalize the correction of an error where a purchase of goods from L. Low for \( \$300 \) was entered correctly in the purchases account but omitted from L. Low's account.

A company's draft financial statements show a profit of \( \$24,500 \). The following errors were later discovered:
1. A payment for motor repairs, \( \$400 \), was debited to the Motor Vehicles (asset) account.
2. Rent received of \( \$1,200 \) had been correctly entered in the cash book but completely omitted from the ledger.
3. The closing inventory was undervalued by \( \$1,500 \).
4. Depreciation on motor vehicles is charged at \( 10\% \) per annum on cost. The cost of motor vehicles (including the error in item 1) was \( \$20,000 \).

(a) Prepare the journal entries to correct errors 1 and 2.
(b) Prepare a Statement of Revised Profit for the year.