• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • FIA Forums
  • CIMA Forums
  • OBU Forums
  • Qualified Members forum
  • Buy/Sell Books
  • All Forums
  • Latest Topics

Save 20% on ACCA & CIMA Books

Interactive BPP books for June 2026 exams, recommended by OpenTuition.
Get discount code >>

Errors in bank account

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Errors in bank account

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by AvatarJohn Moffat.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • September 10, 2024 at 1:30 pm #711045
    Avatarrahym1
    Participant
    • Topics: 1
    • Replies: 0
    • ☆

    The question is where a bank account is shown with errors in entries of debit and credit. Theres this one entry “ returns of goods purchased for cash 50$” so my question is shouldnt this entry be excluded from the bank account because it says says cash and there is nothing said about 50$ being credited to the bank so how do we know if the business deposited it into the bank. It can very well be in the cash drawer. If it said something about it being deposited in the bank then it is a debit entry but it says nothing like that

    September 11, 2024 at 8:36 am #711190
    AvatarJohn Moffat
    Keymaster
    • Topics: 57
    • Replies: 54845
    • ☆☆☆☆☆

    It depends on the whole context of the question. Purchased for cash strictly means that it is cash as opposed to affecting the bank.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE Exams – Instant Poll

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • TEDI on IAS 16 Property, plant and equipment – Initial Recognition – CIMA F1 Financial Reporting
  • ChanNV on Framework – measurement – ACCA Financial Reporting (FR)
  • ChanNV on IASB Conceptual Framework – Introduction – ACCA Financial Reporting (FR)
  • Konstantinos43 on Financial Performance Measurement – Liquidity Measures – ACCA Management Accounting (MA)
  • Hirak.5 on ACCA TX-UK FA2025 Chapter 3 Property Income and Investments – Individuals

Copyright © 2026 · Contact · Advertising · OpenLicense · About · Sitemap · Privacy Policy · Cookie settings · Comments · Log in