A-LevelAccountingControl AccountsOct/Nov 2022Paper 1 Q61 Mark
The sales ledger control account of a business had a balance of $17640. This did not agree with the total of the individual customer accounts in the sales ledger. The following errors have been discovered. 1 An invoice in the sales journal for $460 has been entered wrongly in the sales ledger as $640. 2 Credit balances on the sales ledger, $470, have been omitted from the sales ledger control account. 3 Discounts allowed have been incorrectly totalled as $310 instead of $325. 4 Goods sold to Harry for $690 have been entered in the account of Barry in error. What is the correct balance on the sales ledger control account?
A$16975
B$17155
C$17185
D$18125
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of control accounts within the Accountingsyllabus. The examiner's mark scheme requires...
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Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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