Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Suspense account
- This topic has 3 replies, 2 voices, and was last updated 4 years ago by John Moffat.
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- May 16, 2019 at 8:58 am #516110
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 youMay 16, 2019 at 1:39 pm #516134I 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 #516161I’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 ThanksMay 17, 2019 at 8:26 am #516232The 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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