Not getting suspense account

janakG Registered Posts: 9

why is the answer d?


  • Cheesypeesy
    Cheesypeesy MAAT Posts: 102
    The debit entry in Office expenses is correct, so we don't need to touch that account.

    We remove the incorrectly entered value of £84 in the bank account by debiting it, crediting the suspense account which holds the £36 debit difference caused by this error.

    The suspense account now has a £48 credit balance (£84-£36). Therefore, we can debit the suspense account £48 to clear the balance. The credit entry is £48 to the bank, which is what should have been entered.
    Matthew Dearlove MAAT
    Currently on CIMA Management Level. Passed P2, F2 and E2. Preparing for November 19 MCS.
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