chrisxuanxiang09

I will take paper base exam T6,7,9,10 this december..
i take T9 for class..and self-study for T6,7,10 ..
T9 some chapter i duno
i make self-study coz im hearing imparing.. .. so practice past exam year ,reading book text.. than class ,is it way?

pls give me some advice ..

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chrisxuanxiang09

Which of the following is a transaction made on credit ?

A. purchase of a new machine by cheque
B. payment of a restuarant bill out petty cash
C. Purchase of goods by cheque with a trade discoutn of 20 %
D. Sale of goods with a 3 % settlement discount


i think answer is D .how about your opinion ?

quyet

D is my answer

caster 87

d too......

caster 87

Originally Posted by chrisxuanxiang09

I will take paper base exam T6,7,9,10 this december.. i take T9 for class..and self-study for T6,7,10 .. T9 some chapter i duno i make self-study coz im hearing imparing.. .. so practice past exam year ,reading book text.. than class ,is it way? pls give me some advice ..

t9 better for class....becoz every year change the tax rate...but tat year t9 i don't use text book any more...just use some page only...
t6and t7 do more practice and past year ques...t7 alway ask in past year is most important to remember it...

chrisxuanxiang09

A business sells good on credit .The balance of $ 328,630 on the recivables ledger control accoutn does not agree with the sum of the balances on the customers' accounts in the receivables ledger.On investigation the following errors are discovered :

- Debts of $ 1,050 written-off but not recorded in the customers' accounts in the receivables ledger.
- Discounts allowed of $ 1,470 not recorded in the recivables ledger control account
- Sales daybook over-cost by $ 10,000

What us the corrected balance on the receivables ledger control account ?


$ ___________

i do not know to answer this question.anyone help to answer this question ???

quyet

I think it is basic question.
328,630 - 1470 - 10,000 = 317,160
Opening balance (DR) receivable control account: 328,630
CR Disccount allowed 1470
CR Over cost 10,000
=> Closing blanace (CR) = 317,160
U should draw T account for receivable control account.
Write-off in this case effect on only receivable book, not control account

chrisxuanxiang09

The balance of $ 202,600 on the payable ledger control account does not agree with the sum of the balance on suppliers' accounts in the payable ledger.On investigation the following errors are discovered :

- Purchase day book over-cast by $ 1,000
- Discount recevied of $ 2,200 not recorded in payable ledger control account
- Return day book totalling $ 6,700 ,posted as $ 7,600 to the payble ledger control account.

what is the revised balance on the payable ledger control account ?

$ _____

i think to try answer the step : 202 600 - 1000 +2200 +900 ,is it ??

quyet

In my opinion, 202,600 - 1000 - 2200 - 900

chrisxuanxiang09

In the process of reconciling the receivable ledger control account with the recivables ledger.It is discovered that the sales day book has been under cast by $ 100.The receivable ledger control account balance ,before any required correction is $ 136 ,900

What is the corrected balance on the recievables ledger control account ?

$ ____

i think it is 136, 900 + 100 = 137,000 coz " under cast $ 100 " must additional 100 .
how about urs?