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ACCA F3 Journal Entries
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Sir how can one write correctly a year-end exercise in journals
This lecture explains how to write an entry as a journal entry. The double entry for all the year-end adjustments is covered in all the other lectures.
Sir, when practicing I’ve encountered Lots of questions on journal entries. Moreover I’ve noticed, again, mistakes in bpp prkit
Please could you answer the following questions and explain please when we need journal entries to correct errors in nominal ledger???
Q: a difference between the cash and the bank statement must be corrected by means of a journal entry. True/false?
I think no…but have no proof:D
God bless you!
A correct is only needed if the difference is due to an error in the cash account.
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
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.
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.
Hello good lectures. I tried to do the tests but dont know the right answers. Is it possible that i can get the answers from the Note?
The answers are at the back of the Course Notes (the page number is on the contents page).
There is no chapter for Deferred income and Accrued income on Accruals and Prepayment ; /
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.
Teacher, how to u record if we the total amount of land is 5000$ and first we deposit 2500$ on 12/Dec/2012 and we will pay 2500$ more on 31/Dec/2012?
cant access the video. always saying video not found. what is my problem. i’m using firefox 9 and the latest adobe flash player.
@mutiba, as always: Please visit the support page: https://opentuition.com/support/
There is no chapter on incomplete records. :/
@wixibix, there is under the name of markup margins i think so
@wixibix, “Incomplete records” for the exam comprise three separate exercises: using the accounting equation (which is dealt with in chapter 2); control accounts (which are dealt with in chapter 16); and using mark-ups and margins (which are dealt with in chapter 18).
Great …………Its gud