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Prepare suspense account for nyashas ledger

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Reference no: EM132462779

Trail balance prepared for Nyasha 30 June did not balance debit side $167680 credit side $167934 difference entered into suspense account and prepared draft income statement with profit for year $21410

Following errors :

Point 1: Purchase journal overcast $100

Point 2: $285 received from J Khan entered in account K Khan another credit customer in sales ledger

Point 3: Goods $95 returned to credit supplier Begun Stores correctly recorded in purchases returns journal but credited to Begum Stores

Point 4: Cheque $74 for electricity recorded in bank but no other entry

Point 5: Discount allowed $90 omitted from trail balance

Question 1: Prepare suspense account for Nyashas ledger as well as a statement to show corrected profit for year

Reference no: EM132462779

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