7 marksCorrection of Errors and the Suspense Account

CSEC Principles of Accounts · May/June 2012 · Paper 2 · Question 3(a)(i)

V. Cheeseman discovered errors in recording bank transactions for the month ended 31 August 2011.

Prepare the journal entries to correct the three listed errors (narratives not required).

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Other parts of this question

3(a)(ii)Beginning with the incorrect balance of $2 570, correct the summarized Cash Book for the relevant errors given, showing all working.[5 marks]
3(b)(i)Using the corrected summarized Cash Book balance from (a)(ii), draw up an updated Cash Book for the month ended 31 August 2011.[5 marks]
3(b)(ii)Starting with the updated Cash Book balance, draw up a Bank Reconciliation Statement for V. Cheeseman for the month ended 31 August 2011.[3 marks]

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