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- October 27, 2020 at 6:12 am #593219
There is hope. you just have to give your self time and create a schedule that is more convenient for you. My advise is , when studying , do not study all chapters at a go . take one topic , read material on that topic practice more questions till you sure about it, then move to the next … you will be fine
October 27, 2020 at 6:03 am #593218we prepare control accounts using the totals from ledger accounts , meaning the total of sales , total of cash from debtors total of returns and so on. so some errors made , may not affect the total amount which means the control account is not affected. so when reconciling , check if the error affects the total amounts of a particular account.
example
suppose On listing-out, an individual credit balance of $517 has been incorrectly treated as a debit.
this means when the list of payables was made, ( when stating the balance of each ) the mistake was made. so individual credit balances are extracted from the payables ledger. Here, this error affects the ledger accounts balance. therefore no adjustment is required to the control account, only to the list of balances.January 16, 2017 at 11:42 am #367513you might be failing the exam itself.if you understand and have covered every thing,the problem could be on understanding the question itself.make sure you practice on understanding questions.not on knowing answers to a lot of questions because if they do not appear as you know them it will be a challenge.
April 7, 2016 at 8:02 am #309215okay thank you John, I was just wondering so I understand
October 7, 2015 at 2:52 pm #275423you are not the only one ,been thinking maybe they are not posted yet but its a long time now
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