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    • avatar says

      when reconciling control accounts with normal payable s/receivables ledger in exam they give us different errors. which of the errors will effect control accounts ONLY ?
      how to identify them i always get stuck with this part .

      • Profile photo of John Moffat says

        The main ones to look for are those where the totals of any of the books of primed entry are wrong (purchase day book, sales day book etc.).

        The totals of these books are only used in the control accounts.

  1. avatar says

    I have the same question with onyxera.

    In solving Test Question 4 of Chapter 16, page 111 on the free lecture notes (ACCA-Paper-F3-notes-December-2011-OpenTuition.pdf), I do not understand why error (2) “The total of the purchase return journal was undercast by $1,000? was not corrected in the payables ledger. Shouldn’t this be debited to the payables ledger to reduce liability?

    Could you please kindly help?

    • Profile photo of John Moffat says

      @jenniferwoo, The payable ledger is where there is an account for each individual payable. The individual figures will have been entered correctly in these accounts, and the total of the returns journal is irrelevant for this.
      Where we use the total from the journal is when we do the double entry – debit payables and credit returns – and so it is the payables account in the nominal ledger that needs correcting.

  2. Profile photo of onyxera says

    In solving Test Question 4 of Chapter 16, page 111 on the free lecture notes (ACCA-Paper-F3-notes-December-2011-OpenTuition.pdf), I do not understand why error (2) “The total of the purchase return journal was undercast by $1,000″ was not corrected in the payables ledger. Shouldn’t this be debited to the payables ledger to reduce liability?

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