Credit side of Trial balance was short by rupees 5000It was found that Purchases Day Book was overcast by Rupees14000 & Sales A/c was overcast by rupees 2000 Show impact on Suspense A/c

Credit side of Trial balance was short by rupees 5000It was found that Purchases Day Book was overcast by Rupees14000 & Sales A/c was overcast by rupees 2000 Show impact on Suspense A/c

Suspense account has a credit balance of 5,000
Overstated purchases will be corrected (assuming no control account for purchase ledger):
Debit Suspense 14,000
Credit Purchases 14,000

Suspense will now have a debit of 9,000

Overcast in sales will be corrected by:
Debit sales 2,000
Credit suspense 2,000

Suspense account will now have a debit of 7,000