Ecz Principles of Accounts gce grade 12 2016 paper 2
Mushangelu prepared a Trial Balance on 31 March 2014 and found that the credit showed a total of K44 000 more than the debit column. A Suspense Account was opened to make up the difference. Some days later, he discovered the following errors in his books.
(i) The Sales Day Book had been undercast by K30 000.
(ii) A purchase of gdlds costing K42 000 from Kalumbila was entered correctly in the purchases day book but was wrongly posted to Kaiumbila’s account as K24 000
m The purchase of new Fixtures after Fittings costing K39 000 for business use had been debited to the Purchases Account.
(iv) A payment by cheque of K8 500 ha creditor P. Fulaka had been posted to the wrong side of his account although it was correct in the Bank Account.
(v) A Sales Ledger balance of K75 000 mr Kengulula had been omitted from the Trial Balance figure.
