AQA AS LEVEL ACCOUNTING UNIT 1 May 16
Does anyone have any predictions for the unit 1 accounting paper tomorrow? Good luck to those of you taking your exams!
i think errors and double entry are likely possibly a suspense account and maybe uses of a trial balance
Original post by jakebonnington
i think errors and double entry are likely possibly a suspense account and maybe uses of a trial balance
I always get so confused on suspense accounts and what goes on each dr/cr! I'm just hoping to do well in the written questions.
Original post by revision246
I always get so confused on suspense accounts and what goes on each dr/cr! I'm just hoping to do well in the written questions.
i just go with unless it's COPROC it goes in
Original post by jakebonnington
i just go with unless it's COPROC it goes in
Thanks, so do the COPROC errors go into the suspense account?
Original post by revision246
Thanks, so do the COPROC errors go into the suspense account?
no because they don't affect the trial balance and only errors that affect the trial balance go in the suspense account to account for the difference
Original post by jakebonnington
no because they don't affect the trial balance and only errors that affect the trial balance go in the suspense account to account for the difference
So does that include arithmetic errors and casting errors? What are the other errors?
Original post by revision246
So does that include arithmetic errors and casting errors? What are the other errors?
yeah so errors where they have under/over cast a figure or another classic one is posting discounts received/allowed to the wrong side so you double it on the side it should go to get to the right amount
Does anyone remember if we had to do a suspense account in any of the questions?
Original post by Cheryl_323
Does anyone remember if we had to do a suspense account in any of the questions?
No but there was a general journal in which we had to make entries into a suspense account
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