[wrathofheaven1]

Left 12 marks in Q1 c and did Q5 in last 5 mins …..the rest was complicated but required proper planning….whish I had done Q5 before Q1.

Is there any chance of passing after leaving 20 marks? 🙁 …the rest was done fine

[wrathofheaven1]

Here is the Answer

DR Purchase(expense) 100
DR Suspense 100
CR Supplier 200

Then, the payment:
DR Supplier 200
CR Bank 200

While matching, he removes the duplicate invoice and after that when the new invoice comes he records that in the place of the Suspense a/c. This is a recurring fraud and will continue until the accountant decides to run away.

[wrathofheaven1]

I think I got it 😀
Here are the steps:

1) Record two invoices of $10,000 each, leading to payables of $20,000, making the credit side of trial balance heavy by this $20,000.

2) DR Profit/loss $10,000
CR Bank $10,000

3) Change the bank account no. of supplier in BACS to his own account.

4) DR Suspense $10000
CR Bank $10000

5) Invoices matched with the accounts and removed.

Correct me if I am wrong

[wrathofheaven1]

Correct!!
But one point though.

If he has changed the bank account from the supplier’s to his own in the BACS system, how is the normal payment made to the supplier? Shouldn’t both payments go to the accountant’s bank account? :S

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