Redrafting trial balance / suspense account

Hi there sorry me again,
I'm struggling making sense of how to do this with the book I'm learning from and I note its a big questions with a lot of marks in it so ideally I wanna make sure i know what i'm doing with this one 100%.
I thought if the amount was in the suspense as a credit or debit you'd do the opposite to the amount in the trial balance but checking with the answers - i'm wrong hahah.
Please could someone explain? :)

Comments

  • N4TN4T Posts: 191AAT Student
    Hi, it's me again.

    This question isn't asking you to do any journals or zero the suspense account. The journals have been written up for you....you just need to put the correct figures in the TB to take into account of the journals "to be posted"

    So cash at bank is £11,923 DR (asset) and a further debit of £812 from the journal will increase the balance to £12,735 DR.

    That's all you need to do.

    Let me know if you are still having difficulties with the other entries.
  • jw919jw919 Posts: 12Registered
    Hi!,
    yeah i know the journals have been written up for me, its just working out how to get the correct figures that i am getting incorrect

    so I'm adding 812 to cash at bank and to the cash one also?

    and then the sales is saying credit 331 and also purchases credit 331
    so am i decreasing the sales, slca, purchase and plca by 331 ?
  • N4TN4T Posts: 191AAT Student
    Cash should be the done the same as cash in bank. £200+£812= £1012 DR. (Because cash is DR by posting a DR journal you need to add them together because they are the same "sign", like when you add +ve and -ve)

    sales £207,426 CR, then add on £331 CR = £207,757 CR (again as sales is CR the CR journal increases the sales balance)

    Purchases £99,250 DR, deducted £331 = £98,919 DR. (Purchases is DR, the CR journal entry means reducing purchases by £331)

    Are you okay with the explanations? If still confused then think DR figures as Minus figures and CR as positive figures.
    E.g.
    Purchases -99,250, journal is +331 add these together to get -98,919 i.e DR
    Sales +207,426 journal is +331 add together to get +207,757 i.e CR

    "So am I decreasing the sales, SLCA,purchase and PLCA by 331?"
    You do not need to make any adjustments to SLCA nor PLCA as the journal entries are only for sales and purchases. SLCA and PLCA are both correct and do not need amending. For them just slot SLCA of £102,542 into the DR column etc.

    The only figures you need to adjust in this TB are the four mentioned cash, cash in bank, sales and purchases. For all others just decide whether they are DR or CR using PEARLS or DEADCLICK which ever you have been taught.
  • N4TN4T Posts: 191AAT Student
    Typo sales £120,542
  • N4TN4T Posts: 191AAT Student
    SLCA you know what I mean :)
  • jw919jw919 Posts: 12Registered
    is the redrafted trial balance supposed to balance?
  • N4TN4T Posts: 191AAT Student
    Yes. Mine did. Tell me which are your Debits. No need for figures as we've gone through the 4 adjusted figures.
  • jw919jw919 Posts: 12Registered
    Debits I've got
    motor vehicles
    cash at bank
    cash
    sales ledger control
    office expenses
    purchases
    motor expenses
    other expenses
  • N4TN4T Posts: 191AAT Student
    Yes that's all correct. It must be the figures then. Did you understand about the 4 adjusted figures for cash, cash at bank sales and purchases? I think you have just got a typo. £296,6715s total for each column.
  • N4TN4T Posts: 191AAT Student
    £296,671
  • jw919jw919 Posts: 12Registered
    yes i think so, its just calculating the totals with the extras - I'm probably one complicating it but that you for your help.

    so am i right in thinking

    if the entry on the trial balance is a debit account and the journal figure is a debit you add them

    if the entry on the trial balance is a credit account and the journal figure is a credit you add them

    if the entry on the trial balance is a debit account and the journal figure is a credit you subtract them

    if the entry on the trial balance is a credit account and the journal figure is a debit you subtract them ?
  • N4TN4T Posts: 191AAT Student
    yes you've got it. It's very easy to to mis-type when you have to enter so many figures onto the table
  • jw919jw919 Posts: 12Registered
    glorious! thank you, i knew it wouldn't be something too crazy but i think you're right i think I'm just getting confused and doing silly typos with all the figures on the table. but thank you for your help :) my exam is on tuesday so ill just go and look over the next thing i'm a little unsure of now ahah. Thanks again!
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