Day: March 12, 2021

A business omitted discounts allowed of £700 from its trial balance.

During the year a machine had been sold for cash of £500 but the only accounting entry made was a debit in the Bank account. 

What is the balance on the Suspense account? 

Select ONE answer:

1. £200 debit
2. £1,200 debit
3. £200 credit
4. £1,200 credit 

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

1. Correct
2. Not correct
3. Not correct
4. Not correct

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