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    dineshpatel's Avatar
    dineshpatel Posts: 1, Reputation: 1
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    #1

    Jun 30, 2009, 05:49 AM
    Advance account
    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
    rehmanvohra's Avatar
    rehmanvohra Posts: 739, Reputation: 27
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    #2

    Jun 30, 2009, 10:44 AM
    Quote Originally Posted by dineshpatel View Post
    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
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