5. You have extracted a trial balance on 31 December 2006 which failed to agree by GH¢350, a shortage on the debit side of the trial balance. A suspense account was opened for the difference. The following errors were later found: a. The purchases daybook had been undercast by GH¢200. b. The insurance account had been undercast by GH¢50. c. Sale of equipment of GH¢400 had been credited in error to the Sales account. d. Sales account had been overcast by GH¢175 e. Discounts received had been undercast by GH¢75

The Allowance for Doubtful Accounts account will have a credit balance at the end of the period if the write-offs during the period are: none of the answers are correct. more than the beginning balance. less than the beginning balance. O equal to the beginning balance.

The trial balance of Vivien for 30 June 2020 did not agree, and the difference was posted to a Suspense Account. The following errors were subsequently discovered: (i) A payment of RM1,144 in cash by Fatt Lee, a debtor, had been posted to the account of Lee Fatt. (ii) A credit notes for RM234 from Ali had been posted to the account of Ali as RM23. (iii) Discounts allowed of RM123 had been posted to the credit of discounts received. (iv) Goods totalling RM4,567 had been purchased and had been correctly entered in the purchases daybook but had not been posted to the purchase's ledger control account. (v) No entries were made in the books for goods originally sent to Wong on a sale or return basis. These goods have now been sold and the value to be invoiced is RM4,321. (vi) A new car porch had been built at the house of Vivien. The cost of the car porch was RM6,789 and this had been charged to the 'factory building' account. (vii) The purchases daybook had been under-cast by RM1,000. The…

ME11Which of the following errors, each considered individually, would cause the trial balance totals to be unequal?a) A payment of $488 to a creditor was posted as a debit of $848 to Accounts Payable and a debit of $488 to Accounts Receivable.b) Cash received from customers on account was posted as a debit of $450 to Cash and a credit of $450 to Accounts Payable.c) A payment of $79 for supplies was posted as a debit of $907 to Supplies and a credit of $907 to Cash.d) A transaction was not posted.