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  1. avatar says

    sir which errors can be corrected by journal entries ?
    i get easily confuse with this one in the exams , they will give me many errors and ask which errors are corrected using journal entries :s

    • Avatar of johnmoffat says

      All in journal entry is the writing down of an entry.

      All corrections of errors can be written as journal entries.

      What questions do is give you a choice of journal entries and ask which one of them is correct.

  2. avatar says

    Hi Johnmoffat. I would like to share with you that I am completely new to accounting. I heard your lectures on balance sheet (Assets=Liabilities+Owners Equity) and solved three questions myself with accurate answers. Thank you Opentuition and Johnmoffat once again.

    • Avatar of johnmoffat says

      You are right – there is no chapter in the notes!
      The notes are Course Notes and are not intended to replace Study Texts and so although they cover more than enough to pass the exam well, they cannot be expected to include every possible point.

      However, accrued income etc is exactly the same logic as for accrued expenses, and there are two examples of it in the test and the end of the accruals and prepayments chapter (and answers at the back).
      Because the notes are Course Notes, when I am using them for teaching I go through these examples with the class to make sure they understand.

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