NS pajejsiapun sjasse juelnd-UoU pajejsJaA0 sjasse jueuno-uoU Zz ‘PajejSIAAO S}aSSe JUALINI-UOU ae = pajeysiapun syasse jueuNo-UOU Sars “241 0} pabseyo si siyy ‘ajolyen Jo}OW!"e Saseyoind Joyeldoid efOs e Aq paumo ssauisnq yodsuey vy : LO/bd/Z0 N/O ‘ZO/bd/60 FIN ‘SO/LLd/ZL N/O “Z — an 1 ooank 2 anu fq aseasoul CD Bd/0AU) BY} JO ANJeA ay} BoIM) Aq aseavep Scanned with CamScannerON 8.3: Mistakes ny : 154 ‘Accounting A Levelt Worked Solution ead and Wite Publications 8.3: Mistakes in trial balance 4. MAR 181P12/Q7, Mid OTIP/Q10 Which error would affect the balancing of atrial balance? —&_ A purchase invoice for $259 was entered in the purchases day booked the trade payable, account as $529, Same, eh a fF n entere B A payment for rent of $250 has been debited in the Bank account. It has b zs rect in - Exa 5 : the ren account. CNIS Cg sales invoice for $180 was lst, before it coud be entered in the sales day book. DA sales relurn of $500 was debited in the rade recelvable's account and cfedited to the purchases returns account, >, 2, MIJ 18/13/09, MiJ 13/P12/08 Which error would result in the creation of a suspense account? ‘A crediting the commission received account wit rent receh -B__ crediting the discounts allowed account with the discou debiting the bank interest paid account with bank inter 3. MAR 17IP12/Q6, OIN 14/P12/05 A suspense account shows a debit balance of $350. nat could have caused this? “=== ‘A purchase of $350 was debited to the rent 2c ‘BA purchase of $350 was omitted from the purch A sale of $350 was debited tothe sales accou A sale of $350 was posted twice tothe sales: 4. OIN 16/P12/07, MJ OSIP1IO8 A suspense account has a balance of $450 debi ay has caused this balance in the Susper credit B__ motor expenses of $225, entered in the Beredt @ motor expenses of $450, corecty debit D motor expenses of $675, entered expenses as $225 debit 25. oni tst1109 25)” busines di not maintain control ac & i An examination os books reveaed t credit side higher by S100g F Credit side higher by $280 6. MAR 16/P12/06 The trial balance totals are as follows: Ag a Which error could have caused the d Scanned with CamScanner‘counting A Level P-t Worked Solution Ae £83: Mistakes in ra balance 7. MIJ 1SIP13/Q8, ON 11/P11/07 Which error would cause an entry in the suspense account? ‘A Acpage total from the purchases journal was posted as $9780 ralher than the correct figure of @ea SUrdh i \ iar age outwards Is credited to the carriage outwards account but correctly accounted for in the cash book. ——— C Discounts“allowed are debited to the aC «' a yt and credited to the purchases ledger contol accounts) LON 6 oe D Repairs to a vehicle are debited to the vehicles clas 8, MU 14IP12I09 S on not to balance? What would cause a trial balance A. acasting error inthecashaccount, B__ atranspgsition error in extracting the trial balance x junts allowed posted to discounts received account uu 1D. misposting of an invoice toa creditors account, Sq 9, MJ 14/13/09 Ail balance failed to agree. ‘The following errors have been discovered. 1 Discounts allowed $54 had been posted to the credit of the discount received account as $45. 2. The rent payable account bad been undercast by $100, — ‘What was the effect of these errors on the trial balance? ‘A credit column $109 greater than debit column C debit column $109 greater than credit column B credit column $199 greater than debit column D debit column $199 greater than credit column 10. MI 13/P111Q14 ex Which error must be corrected by a one-sided journal entry? ‘ . ‘a cheque entered in the cash book but not posted in a ledger account Zane ‘a contra entry in the sales ledger control account not entered in the purchases ledger control account ‘an error in the total value of sales ledger balances included in the trial balance. discount allowed entered in a customer's account but not entered in the discount column in the cash book a 11. OIN 44/P12109 NY Wich ror wl cause a il balance nett alnes? Se Jamie ented so cel el on Sa Pk TEBE Bee B >a journal entry that does not balance. a transaction entered as the wrong amount on original input D__atransaction not entered. 12 ON 1012106 ICTY Which error will not affect the trial balance? fi Posting of $3000 purchases tothe debit ofthe motor vehicle account ~ B posting of $3000 purchases to the credit of the motor vehicle account X © _ posting of $3000 road tax refund to the debit of the motor vehicle account Posting of $3000 sales tothe debit arena vehicle aay @aras 3 NJ 101P12I09 ich error will cause an,entry in the suspense account? a transposition error when transferring a ledger account baareyp Oo garzg ommend acca a G € Scanned with CamScanner—rz Accounting A Level P-1 Worked Solution 8.3: Mistakes in trial, 156 Read and Write Publications 14. OIN 09/P12/Q7 A business has discovered several errors in its sales ledger. All the accounts in the other ledgers have entered correctly. : Which error will not affect the agreement of the trial balance? A Aseale to Clark of $2 000 was debited to Clarkson's account. B_ Asale to Garcia of $100 was entered in Garcia's account as $1 000. © Asale to Wong of $4 700 was omitted from Wong's account), D Assales return of $1 200 was debited to khan’s account, GQ ans = Scanned with CamScannercounting 1 Worked Sotion 158 cerca) aaa ta Read and Wits Pubicatons 84 Spm, 8.4: Suspense account 4. MUN 24/P12/Q7, Mid 18/P 111012 “The correction of which error requires an entry in the suspense account? ‘A. Acheque, $1 000, paid to Kong had been debited to Kang’s account, BA purchase of stamps, $50, had been debited to the purchases account, © Commission income, $170, had been debited to a loan interest account, Bie umes econ hed So Uundercast by $200 and the wages account had been overey 00. 2. OIN 201P11/08 ‘John did not keep sales or purchases ledger control accounts. His trial balance did not balance ands, | ‘account was opened. The following errors were discovered. | 4 Sales of $200 had been entered as a credit in both a customer's account and the sales account | 2. Purchases of $350 from J Brown had been entered as a credit in € Brown's account. 3. Machinery repairs of $600 had been entered in the machinery at cost account, 4 Relums inwards of $450 had been entered in the sales returns account but omitted from the cust account. \What was the emount of opening balance on the suspense account. A $400 B $500 c $650 D $850 3. OIN 20/P12/05 ‘Alreder prepared a trial balance which did not balance. The differenor The following errors have now been found. 4. The retums inwards account had been overcast by $90. ‘account. ‘What was the opening balance on the suspense account? A S10 credit B $110 debit 4, Mid 20111106, Mid 20/P13106 ‘The trial balance of a business did nol agree and a suspense acco ‘The following errors were then discovered. 4. The sales journal total of $9 150 had been credited to both the a account, het Tito 2 The purchases journal total of $3 450 had been entered correctly in the purchases account but as! the purchases ledger control account. eae 3 Motor expenses of $6 450 paid by cheque had only been ent oc ‘What was the opening balance in the suspense account? A $15 700credt = B «$15 700debit = —«$24.850er 5. MAR 20/P12/Q5, MJ 13/P13/Q8, OIN 02/P1/Q10 ‘Atrial balance does not balance and a Suspense account is op 1 2 Rent paid of $2 600 was entered correctly in the cash 3. The purchases journal was under cast by $1 980. What was the original balance on the Suspense account? A St620credt = B_-$4 340 debit cs 6. OIN 19/P12/06, OIN 14/P13/08 The correction of which error would require a suspense account ‘A $100 paid for vehicle repairs debited to the vehicles ace B a sales invoice for $45 omitted from the sales journal © drawings of $60 debited to cash and credited tod 1D the purchases journal overcast by $150 Scanned with CamScannercourting A Level P-1 Worked Soliton 1 or Read ana Wile Publications 84 Suspense account 7. MIJ 19/P11/Q7, Mid 16/P11/Q6, M/J 16/P 13/06 a ‘Abusiness’s suspense account appears as follows. 2 $ aan ae 7507 [opening atace on sales Es 180 750) ‘Which slatements are correct? 4 Total debits had been $100 less than total credits inthe trial balance. 2. The sales account had been overcast by $50. 3. The discount allowed account had been overcast by $150. A 1and2 B tonly © 2end3 D Sony 8, MJ 19/P13/07, MNJ 141P11/08 ‘A suspense account was opened when a trial balance falled to balance. it was then discovered that returns of $200 had been correctly entered in the supplier's account but debited in the sales returns account. This was the only error. What was the balance on the suspense account before this error was corrected? A. credit $200 B credit $400 © debit $200 D debit $400 9. OIN 18/13/08 ‘A business maintains control accounts as part of its double entry. ‘The trial balance of the business did not balance and the difference was posted to a suspense account. On investigation, the following errors were found. ‘The purchases journal had been overcast by $300. Discounts allowed of $100 had been posted tothe credi of discounts received account \What was the balance on the suspense account before the correction ofthese errors? A $200 credit B $200 debit © $400 credit D $400 debit 40. wid 48/P12107 ‘The trial balance of a business did not balance. The following errors were found. 1. The otal of the purchases journal of $33 030 had been posted to the purchases account in the general ledger as $33 000. 2 Discount received of $50 had been entered on the debit side ofthe discount received account. ‘What was the original balance on the suspense account? A $20 credit B $20debit © $70credit D_ s70debit 41. OIN 47/P13/Q6, O/N 09/P 12/08 ‘Atrial balance fails to agree and the bookkeeper finds the following errors. 4 Abank overdraft of $100 was shown as a debit in the tial balance, 2. Alelephone bill for $400 was debited to the insurance account. 3. Acash purchase of $160 was entered in the purchases account as $160; the purchase was entered correctly in the cash account, ‘The bookkeeper opens a suspense account in order to correct the errors. ‘What is the opening entry in the suspense account? A cedit $190 B credit 210 © debit $60 42, MIN 171P12108 The following errors were found after a suspense account was opened. s 11 Motor repairs of $400 were credited to the motor vehicle at cost account, Sg él 2 Apayment for electricity was debited in the electricity account as $2 500 inste 200. 3 A$450 cash purchase of goods for resale had been completely omitted from the bods. 4 Discount allowed of $50 had been debited to the discounts received ac 6 Which items would be entered in the suspense account? é A tand2 B 2and3 * © 2and4 Scanned with CamScanner‘Accounting A Level P-1 Worked Solution 13, 14, 15. 16. 17. 48, 19. 160, Read and Write Publications ON 16111106 AA suspense account was opened to record the difference on a trial balance. ‘The following errors were then discovered. 4 Discount allowed of $2000 had only been entered in the sales ledger control account. 2. A.cheque for $1500 paid for repairs had been entered as $5100 in the repairs account, ‘What was the opening balance on the suspense account? ‘A $1600 credit B $1600 debit © $5600 credit D_ $5600 debit M/J 161P12/Q7, OIN O3/P11Q10 ‘A business omitted discounts allowed of $700 from its tral balance. During the year a machine had bes, for cash of $500 but the only accounting entry made was a debit in the Bank account. What is the balance on the Suspense account? A $200 debit B $1 200debit © $200 credit D $1200 credit COIN 15/P12/Q10, ON O1/P1/Q7, ON 98/P1!07 Sales retums of $400 have been credited to the trade recelvable's account as $40. A Suspense Acc ‘created to complete the trial balance. What is the balance on the Suspense Account? A S40DR B S40CR © $360DR D s360CR MN 15/P13108, M/J 09/P1/08 Entries of $700 in the discount received account had not been entered in the trade payabl year a machine was sold for $1 000. There was only one entry made and it was @ credit in the bank a=, ‘Wat is the balance on the suspense account? A $1700 credit B_ $1 700debit © $2700credit D $2700 debits OIN 441P11107 ‘Where would the difference between the total debits and the total credits in a trial balance be recorded? ‘A acontrol account C the general journal B_asuspense account D_ the income statement. Mid 441P 12107 aa Atrial balance failed to agree. A suspense account was opened. The following errors were then discover: 4 The sales returns journal had been undercast by S850. ee 2 The purchases journal had been overcast by $975. destin What was the opening balance on the suspense account before the correction of the errors? A $125 credit B $125 debit © $1825credt —D_—-$1.825 debit he OM 131P131012 Jee? Atrial balance does not balance and a suspense account is opened. © On investigation, the folowing errors are found. iy 1. The debit balance of $450 on the carriage outwards account has been brought down as $540. 2 The purchases retums journal has been overcast by $100, 3. Acheque for $50 received from Alan Green has been posted to the credit account of Brian Green) 4 Rent received of $350 has been posted to the debit of rent paid account. is ‘What is the opening balance on the suspense account? we A. credit $690 B credit $740 © debitss90 dD debit $740 j oe is Scanned with CamScanner-_ aa Ree Hats tae, wove: 14 maaan song Men aa = eee “e ext hai — ie wea atthat seats vetoed an BOO Ay BACCO _ ppt a ote an toy ten td an soe ots wen i yer tbunen han been untres by 040, . ee SS Scanned with CamScannerLevel PA Worked Solution 165 5: Calculation of c Accounting A abiwa lS maxes 8.5: Calculation of correct profit 8.5: Calculation of correct profit 4. my 210P11/08 Atthe end of the year, Barack's draft accounts showed a capital account balance of $4300. His drawings account included a debit entry of $150 for goods taken for his ovm use. Barack realised that this entry had been recorded in error at selling price rather than cost price. He sells goods with a mark-up of 50%. What is the correct closing capital account balance? A $4225 B $4250 © $4300 D $4350 2. MS 2NIPHHIONS A sole trader has a draft profit for the year of $47 500. No entries have been made in respect of the following. 4. Atthe end of the year trade receivables were $5 600 more than the previous year. However, an irrecoverable debt of $360 had not been writen off. The trader maintains a provision of doubtful debts of 5%, 2. Amachine had been sold for $4 000. I had a net book value of $3 500. ‘What willbe the correct profit for the year? A $46360 B 47378 © $47 902 D $47920 3. MJ 24P12108 AA business had a draft profit for the year of $200 000. The following items were then discovered, 1. Depreciation charges had been overstated by $20 000. 2. The value of closing inventory was overstated by $15 000. 3 Ayear-end accrual for wages was needed, $8 000, 4. Ayear-end adjustment for prepaid insurance, $2 500, was required. Whal was the corrected proft forthe year? ‘A $159500 B $199.50 © $240500 1D $245500 4. OIN20/P11/06, OIN 14/P13/Q7, MJ 99IP1IO14 ‘When preparing the financial statements for the year the following errors are discovered. 1. Noprovision had been made for accrued wages of $250. 2 No account had been taken of prepaid rent of $400. 3. The sales journal was undercast by $300. Tho draft profi for the year is $8050, What willbe the profit when the errors are corrected? ‘A. $8100 B $8500 © $8750 $9000 5. MIJ 20/P11/Q10, M/J 20/P13/Q10, MAR 17/P12/Q10, M/J 13/P12/Q4, OIN O1/P1IQ3 ‘The draft accounts of a business show a net profit of $64 000 before taking account of the following. 7, 1 The reduction of the Provision for Doubtful Debts by $300, o@ 5 2. The purchase of office stationery costing $2 400 which has not been entered in the records, ohPona\? sixth of this stationery was used by the year-end, ro ‘What is the corrected net profit? A $61900 B $63900 Cc $64 100 D Scanned with CamScanneri -1 Worked Solut 166 ‘Accounting A Level P-1 Worked Solution ond al WE 6. M/J 20/P12/Q6, O/N 15/P13/Q12 “The following financial information is available for a business. Gralt profit for the year losing capital The following error has been discov Private fuel costs, $1930, had been chi ‘What are the final figures for the year? ered ih the accounting system. arged in the business motor expenses account, feel profitfor the year $ 10720 c 10720 c 14.580 D 14.580 NJ 49/P12/09, OIN 14/P12/Q3, MJ 13/P13/Q11, M/J 06/P1/Q10 ” jn sole trader has calculated a draft net profit of $56 750. He then discovers the following mistakes: Discounts Received of $580 and Discounts Allowed of Sé&ét + been recorded on the wrong sides of the Discounts Received and Allowed accounts. ‘What is the corrected draft net profit? A $56 580 B $55665 MUN 181P 11104 Opening inventory is found to be overstated by $8000 and closing invel ‘Whats the effect of the correction of these errors on profit for the yee ‘A decrease of $1500 B decrease of $14 500 . MIS ABP 111010 ‘A etums inward of $180 has been wrongly recorded as carriage i ‘What isthe impact on proft of the correction of this error? A decreased by $360 B increased by $180 C increased . Mid 17/P 121010 A business provides the following information. Profit for the year cost of ‘The owner then discovers that at the ‘end of year 1 the value of inve ‘What are the correct Profits for the year and cost of goods sold figur i , $ 2B 000 238 000 an 242 000 242 000 32.000 212000 Profitforthe year | cost of goods sold $ Scanned with CamScanner‘Accounting A Level P-t Worked Solution 1" 2 a 14 15. 16, 17, Pall 85: Calculation of correct profit 187 Read and Write Pubseations OM aPI/a8, ON osreH/a10 ‘The following erors in the accounting records have been found and teow err aceang reer hare een un an core 2 assale for $120 to X was debited to the account of Y 3 tha sales days book was over-added by $100, [Ihe goss profi for the year before correcting the errors was $60 200, Whats the correct gross profit for the year? A. $5850 B $59970 © $60350 D- $60550 (ON 17/P13/08, MI 12/P12/08, M/J 12/P11/07, ON 021P1/06 Acompany’s accounts showed a gross profit for the year of $32 500, After the account: it found that the opening inventory had been overstated by $2 400 and the closing terns too Seas understated by $3 400. Whatis the corrected gross profit for the year? ‘A $26 700 B $31.500 © $3300 D $38.00 ON 161111010 ‘A trader has prepared a draft income statement for the year showing a gross profit of $84 200. He discovers the following two errors. 1 Closing inventory has been overstated by $2500. 2. Sales retums of $400 have been treated as purchases returns. ‘Whats the correct gross profit? ‘A $60 900 B $62 100 © $6500 D $6630 WJ 161P11/08, M/S 16/P13/08 A company calculates a draft profit for the year of $88 000. This includes the profit margin of $3000 on goods sold on credit but not yet paid for. It also includes $500 profit taken on goods sold fo a customer on a sale of retum basis. Whatis the correct gross profit? ‘A. $84500 B $85.00 © $87500 D_ s91000 ‘OWN 16/P13/08, OIN 13/P12/013 ‘A business had a profit for the year of $450 000 before correcting the following errors. 1 Closing inventory was undervalued by $15 000. 2. Sales retums of $5 000 had been recorded as purchases retums, 3. The charge for depreciation was overstated by $20 000. ‘What was the corrected profit? ‘A $435.00 B $445000 © 475000 D $495.00 Wid 161P 11109, Md 16/P 13/09 The draft proft for the year for a sole trader was $108 000 before the following were taken into account 1. The provision brought forward for doubtful debts was $1850. The provision to cary forward should be $2 260 2 Depreciation of non-current assets had been undercharged by $2000. 3__Anaccrual of $600 for repairs had been treated as a prepayment. ‘What was the correct profit for the year? A $104.40 B $105 200 © $109.00 Ws 467121012, M/J 15/P11/03, OIN 12/P11/012, OIN SB/P 1/011 ‘Acompany discovers that its opening inventory was over-valued by $30 000. ‘This amount is considered to be significant, Which effects will the correction of this error have on the financial statements for Scanned with CamScannerAccounting A Level P-1 Worked Solution 8.5: Calculation of correct py 168 Read and Write Publications 418. OIN 15/P121014 Rachel's trial balance did not agree and she placed the difference in a suspense account, The following shows how four errors have been corrected using the suspense account. suspense account $ $s] difference in trial balance ‘200 | discount received 30 discount allowed 160 | sundry expenses 390 Cash 340 a ma 0 The profit for the year before the errors were corrected was $35 400. What is the correct profit for the year? A $34520 B $34540 c $34860 D $35 480 19, OIN 14/P12/Q4, MJ OO/P1/Q11 ‘A company's accounts showed a gross profit of $84 200, It was found that the opening inventory had tee overstated by $4 200 and that the closing inventory had been understated by $3 700. What is the corrected gross profit? A $78 300 B $83 800 Cc $84700 D $92 100 MIJ 14/P13/Q5, M/J 01/P1/Q13 After draft accounts had been prepared, the following errors were discovered. Opening inventory was overvalued by $2 000. Closing inventory was undervalued by $3 000. Ifthe original gross profit was $90 000, what was the gross profit after the errors were corrected? A $85000 B $89.000 © $9100 D $95000 21. OIN 12/P12/Q10 A draft income statement shows a profit for the year of $360 000. Interest received for the year of $1200" been treated as interest paid. What is the correct profit? A $357 600 B $358 800 C $361 200 D $362 400 22, Mid 12/P13/Q8, O/N 03/P1/Q11 A business has a draft net profit of $84 000. It is discovered that the closing inventory was overvalued by $+? and that discounts received of $1 500 were treated as an expense. What is the corrected net profit? a A $81500 B $83 000 C $89500 D_ $91 000 20. 8 Scanned with CamScanner| ‘Accounting A Level P-1 Worked Solution 8.6 Etfects of ors eng, we Read and Whe Publications 8.6: Effects of errors on profit 4. MNJ 211P13/06 X sold ¥ goods on credit with a ist price of $5 000. When X prepared the invoice, he forgot to give Y 10% ry discount. ‘What was the effect of this error in X's books of account? 4. Asuspense account with a credit balance of $500 was opened. 2 Asuspense account with a debit balance of $500 was opened. 3. Assets were overstated by $500. 4 Assets were understated by $500. A tand3 B 2and4 © 3ony D 4only 2. MIJ 211P13/09, OIN 19/P12/08, OIN 19/P13/Q7, OIN 17/P11/012, Md 13/P13/07, Mid 11/P1/04 ‘Some items of closing inventory have been incorrectly included in the financial statements at their cost prices | rather than their lower net realisable values. What was the effect ofthis error? ret current assets, overstated overstated understated Understated foom>| 3. OIN 20/P12/03, MiJ 15/P13/02 A trader depreciates fatures and fitings at the rate of 10% a new fixtures and fitings, $5000, was posted to the advertising aco What was the effect of this error on the trader’ capital account on ‘A overstated $4500 B overstated $5000 C und 4, Mid 20P11108, M/J 20/13/09, M/J 15/P13/09, OIN 141P 11 ‘An electricity accrual of $375 was treated as a prepayment in prep , ‘statement. Whelr + the effect on profit? A. overstated by $375 B overstated by $750 5, OM 491P121012 A sole traders personal expenses had been paid out of statement, ‘What was the effect ofthis on the profi and capital? no effect overstated no effect, understated 6. MAR 19112011, A company undervalued Aare eg mein it Scanned with CamScannerAen at Weted Saati Read and Weke Pubcatons 8.6: tects ct omors on grote 7. My 167P12108 than income statement carriage outwards of $5 000 has been treated as carriage inwards, Carriage inwards of $3 000 has been treated as carriage outwards. What are the effect(s) of these errors on the profit? 8. SPEC 16/P1/06, ON 13/P11/03 ‘On 4 January 2012 a business had prepaid rent of $50. During 2012, it made th payment Sr Dente 202 te nes owed S00 et 2 ve get g200 each, ‘The business owner only charged the rent payments made during 2012 inthe income statement ‘What is the effect on profit for the year? een eee s A S200everstated = B_-$200 understated $250overslated $250 understated 9. OM 15/13/03 ‘Abook-keeper failed to record accrued rent payable of $12 000 at the year end, What isthe effect of this on the fnancial statements? r 10. ms 1sIP11102 A trader, whose year end was 31 December 2014, paid business rates of $3000 on 1 November 2014, The business rates were for the six months ending 31 March 2016, but no adjustment had been made for the Prepayment. Which effect does this omission have on the prof for he year? ‘A overstated $1500 B overstated $2000 °C understated $1500 D understated $2000 11, MIN 151P11103 Closing inventory of $5000 at 31 December 2014 has been incorrectly enter $3000, the financial statements as How does this affect the financial statements at 31 December 20147 for the year net assets, x eer atect ances 8 overstated overstated c understated no effect D understated understated 12. MNJ 13/P121013, M/J 08/P1/Q17, Mid O5/P1IO14 ‘The wages of staff employed in getting goods into saleable condition have by What is the effect of this error? ¢ J ment. Scanned with CamScannerAccounting A Level P-1 Worked Solution 13. OIN 10/P12/Q7, OIN 08/P1/Q9 174 Read and Write Publications Closing inventory has been undervalued. ‘What is the effect on the financial statements? 8.6: Effects of errors on py, et current assets net profit A no effect understated B overstated overstated c understated no effect D understated 1 understated Scanned with CamScannerAccounting A Level P-1 Worked Solution 1. 176 8.7: Muto Read and Write Publications: bi Multiple topics O1N 47/P11/09 a sek Henry received a credit note from a supplier. He treated this in error as an invoice received and entered itinys Purchases journal. When was the error revealed? ‘A when Henry compared his cash book with his bank statement B__ when Henry compared his purchases ledger with statements of account received when Henry prepared a purchases ledger control account D__ when Henry prepared a trial balance Mid 15/P13/Q13, OIN 03/1/15 ‘Which of the following will increase profit? ‘A _ increasing depreciation rates B__ increasing distributable reserves © increasing the provision for doubtful debts D__ increasing the value of closing inventory OIN 12/P13/01 ‘A business maintains a sales joumal, a purchases journal, a cash book and a general journal. Which items would be posted to the ledger accounts from the journal? 1 depreciation charge for the year 2 wile off of a bad debt . 3 scout atowed on setfement ofa debt A interest on overdue accounts 1,2and4 B tand4only © 2,3and4 D 2and3only Scanned with CamScanner