Edwards Ford
10/23/2024 · High School
Jacob has a debit balance on his suspense account of \( \$ 3,720 \). The following errors are subsequently found: (1) Opening inventory of \( \$ 1,980 \) is omitted from the trial balance (2) Bank overdraft of \( \$ 630 \) has been included in the trial balance as a positive cash balance (3) Receivables have been understated by \( \$ 3,000 \) After adjusting for these errors what is the remaining balance on the suspense account? \( \$ 3,960 \mathrm{Dr} \) Nil \( \$ 630 \mathrm{Cr} \) \( \mathrm{S} 6,000 \mathrm{Dr} \)
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The suspense account balance after adjustments is \( \$ 8,070 \) (debit).
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