A-LevelAccountingReconciliation and verification9706/12 · Feb/Mar 2016 · Q51 Mark

A sales ledger control account was prepared. An irrecoverable debt of $40 was omitted and a discount allowed of $68 was entered as $86. What was the total effect of these errors on the closing balance of the sales ledger control account?

A$22 overstated

B$22 understated

C$58 overstated

D$58 understated

✓ Correct answer

A: $22 overstated

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Topic: Reconciliation and verification, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Feb/Mar 2016 Paper 1 Variant 2, question 5.

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