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Error correction part 5 | The Suspense account | Errors affecting the agreement of the Trial Balance

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 Follow this link to the Error Correction playlist    • Error correction   Follow this link to the Bank Reconciliation Statement playlist    • Bank recs (2020)   Follow this link to get FREE PAST PAPER SOLUTIONS in PoA, Maths, and Add Maths   / adapttuition   Follow this link to get FREE POA HANDOUTS https://www.adapttuition.com/downloads Be sure to follow us on Instagram as well. @adapttuition Thanks for watching! Don't forget to: LIKE, SHARE, & SUBSCRIBE for more great content. Remember... You can BE ANYTHING you want to be, You can DO ANYTHING you want to do, IF you have the correct MINDSET, and you PUT IN THE WORK Along the way you are bound to have difficulty, YOU ARE GOING TO MAKE MISTAKES, and that's ok, WE ALL DO. Be sure to ask for help :) And, be sure to help those who ask you for it. And, if what you are doing isn't working, Then you need to try A Different Ap proach To it You need to ADApT Because change is the only constant. Much love! #errorcorrection #suspenseaccounts #csecpoa