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Bank Reconciliation Question

Forums › FIA Forums › FA2 Maintaining Financial Records Forums › Bank Reconciliation Question

  • This topic has 5 replies, 2 voices, and was last updated 11 years ago by John Moffat.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • April 28, 2014 at 3:02 pm #166591
    mansoor
    Participant
    • Topics: 424
    • Replies: 542
    • ☆☆☆☆

    I took the fA2 paper on the 25th. it had a bank recon question. the answer was an overdraft amount.

    but, instead of selecting a choice A, B, C or D, we had to enter the number in a text box provided for numerical input.

    the final line was: What is the overdraft amount that will be shown on the Statement of Financial Position?

    Now, here i got confused whether to input -x or just x

    Were we supposed to enter the absolute value or the number x?

    Even tho I got a 90, I had entered it as -x, then while revising i just entered x.

    what was the correct way to enter?

    April 28, 2014 at 4:50 pm #166641
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54676
    • ☆☆☆☆☆

    Since it asked for the overdraft, you should just enter 90 (not -90).

    (However, I would hope that they would be sensible enough when marking it to accept either – provided of course that 90 was the correct number 🙂 )

    April 28, 2014 at 4:52 pm #166642
    mansoor
    Participant
    • Topics: 424
    • Replies: 542
    • ☆☆☆☆

    well.. i have no idea whether i was marked correct. is there a way that acca can check and reply? is that possible ?

    April 28, 2014 at 5:00 pm #166645
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54676
    • ☆☆☆☆☆

    No – the ACCA will never reply to that sort of question.

    April 28, 2014 at 5:54 pm #166653
    mansoor
    Participant
    • Topics: 424
    • Replies: 542
    • ☆☆☆☆

    ok. thank u …. and by the way.. i still got a score of 90 .. thanks to this site

    April 28, 2014 at 5:58 pm #166655
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54676
    • ☆☆☆☆☆

    That is brilliant – many congratulations 🙂

  • Author
    Posts
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