A-LevelAccountingCorrection of Errors and Suspense AccountsMay/June 2014Paper 1 Q71 Mark
A trial balance failed to agree. A suspense account was opened. The following errors were then discovered. 1 The sales returns journal had been undercast by $850. 2 The purchases journal had been overcast by $975. What was the opening balance on the suspense account before the correction of the errors?
A$125 credit
B$125 debit
C$1825 credit
D$1825 debit
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of correction of errors and suspense accounts within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
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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