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  • This topic has 3 replies, 2 voices, and was last updated 6 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • May 16, 2019 at 8:58 am #516110
    Ha
    Participant
    • Topics: 54
    • Replies: 54
    • ☆☆

    Hi Mr John , I had some struggles to understand the questions .
    For example ” a payment of $50 had been credited to discount received ”

    – My workings : They already Dr stationery ( as they didn’t mention that the DR is missing or anything ) and instead of CR Cash – They Cr discount received . So doesn’t require an entry to the suspense account in this case .
    – But The workings in the book . CR discount received 50- Cr cash 50 ( Dr suspense $100 ) .

    I don’t really get it , as The question doesn’t say anything about DR side, they just said they CR to a wrong account .
    Can you pls explain . Thank you

    May 16, 2019 at 1:39 pm #516134
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    I don’t know which book you are using, but it seems confused!!

    If you have typed the question correctly, then the answer in your book is wrong.

    If it is a past exam question or a question in the BPP Revision Kit, then tell me which question and then I will be able to explain properly.

    May 16, 2019 at 6:00 pm #516161
    Ha
    Participant
    • Topics: 54
    • Replies: 54
    • ☆☆

    I’m sorry , the question is ” A payment of $50 for stationery of $50 had been credited to discount received ”
    So I’ve missed ” OF $50 ” after ” for stationery ”
    So my working s right or the working in the book is right ?
    I’m using Kaplan … Many Thanks

    May 17, 2019 at 8:26 am #516232
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    The wording of the question is still very poor, and their answer does not make any sense at all, however the question is interpreted.

    I agree with your workings 🙂

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