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Excer Ise

Amina, a trader, discovered several errors in her financial statements for the year ending December 31, 2016. These errors included misclassifications and incorrect entries related to sales and bank balances. The document outlines the necessary journal entries to correct these errors without requiring narratives.

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mnollitah
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26 views1 page

Excer Ise

Amina, a trader, discovered several errors in her financial statements for the year ending December 31, 2016. These errors included misclassifications and incorrect entries related to sales and bank balances. The document outlines the necessary journal entries to correct these errors without requiring narratives.

Uploaded by

mnollitah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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20

yearends on 31 December.
6 Amina is a trader. Her financial the difference
Amina entered
2016 did not agree.
her trial balance
on 31 December
The totals of
draft financial statements.
in a suspense
accountand prepared

were later discovered.


The following errors

been undercast by $1000.


sales journal had
1 One page of the
ascapital expenditure.
equipment, $484, had been treated
2 Repairs to office
the purchases returns
credited to
journal, $960, had been
3 The total of the sales returns

account in the ledger.


the trial balance.
treated as a bank overdraft in

$1500, had been


4 The bank balance,
in the purchases
had been correctly entered
from AK Stores for $210 as $120.
5 A credit note received to the account of the supplier

returns journal but


had been credited

REQUIRED
errors 3-5. Narratives
are not required.
the journal entries to correct
(a) Prepare
Amina
Journal

Credit
Debit

20/24

0452/22/F/M/17
2017

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