In this video I introduce errors that affect the agreement of the trial balance and how to use the general journal AND the suspense account to treat with such errors.
Use the timestamps below to skip to specific parts of the video:
00:00 - 00:55 - Intro
00:55 - 03:30 - 4 errors that affect the Trial Balance
03:31 - 05:03 - Using a Suspense account to balance a Trial Balance
05:04 - 05:58 - The Suspense account balance in a Balance Sheet
05:59 - 07:16 - Practice question 1
07:17 - 08:14 - Practice question 2
08:15 - 12:41 - The Suspense account and the General Journal
12:42 - 14:44 - Balancing the Suspense account
14:45 - 15:50 - Correcting the Trial Balance
15:51 - 21:50 - Practice question 3
21:51 - 28:28 - Practice question 4
28:29 - 28:52 - Outro
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• Error correction
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• Bank recs (2020)
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