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Correction of error's

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Correction of error's

  • This topic has 1 reply, 2 voices, and was last updated 9 years ago by AvatarJohn Moffat.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • June 11, 2016 at 11:26 am #322359
    Avatarfaze
    Participant
    • Topics: 15
    • Replies: 40
    • ☆☆

    Hi Mike,

    Can you please help with the following question?

    Which of the following journal entries may be accepted as being correct according to their narratives?

    1) Wages account DR 38000
    Purchases DR 49000

    Labour & materials used in construction of extension to factory

    2) Directors personal accounts: A DR 30000
    B DR 40000
    Director’s remuneration CR 70000

    Directors’ bonuses transferred to their accounts

    3) Suspense account DR 10000
    Sales account CR 10000

    Correction of error in addition- total of credit side of sales account 10,000 understated

    A 1 &3
    B 1 & 2
    C 3 only
    D 2 & 3

    Thanks

    June 12, 2016 at 8:06 am #322496
    AvatarJohn Moffat
    Keymaster
    • Topics: 57
    • Replies: 54836
    • ☆☆☆☆☆

    Mike is not the tutor for Paper F3, and never was! 🙂

    Please stop setting test questions. You must have answers in the same book in which you found the question and you should use this forum to ask about problems you have understanding the answers.

    1 is wrong
    2 is wrong
    3 is correct

    Are you watching my free lectures?

  • Author
    Posts
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