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List of Debtors
Original List Total
???
?
Add
Less
Corrected Total
NB. There is a debit and credit balance. Odd? I thought Debtors
should only have Debit balances? The credit balance represents a
Debtor to whom we owe a refund, so we owe him, he doesnt owe
us. If the question says nothing about us paying the refund, then
that balance will still be in place at the end of the question like this:
List of Debtors
Original List Total
???
?
Add
Less
Bal cd
10
Bal bd
10
Corrected Total
Like suspense, you must know what should have been done to be
able to correct the mistake. The questions you must ask your self
are:
1. Does the error affect the Personal Account, the Control
account, or both? If you are not sure ask yourself if this
means that the Mrs Smith a/c is wrong or the other a/c (eg
Sales, Sales, Returns, Cash, etc)
2. To fix the error in either the Control or the Personal a/c do I
need to increase or decrease. To increase the List, you Add
(simple eh!!!), and to increase or decrease the Control, use
the BookKeeping Key from Suspense.
Examples:
Sales Daybook over totted (added up too much) by 120
A Debtors receipt was entered as 800 not 80 in the
Personal account
Goods returned 75 were entered in the Sales Day Book
as 85 and as 7 on the Debit in the Personal a/s
Try these, solutions below DONT CHEAT !!!!!!!!
List of Debtors
Original List Total
Add
Cash Receipt
Less
Sales Returns
Bal cd
Bal bd
10 Bal cd
101
0
720 Bal bd
720
101
0
10
Corrected Total
72
72
0
79
2
(82
)
71
0