A-LevelAccountingControl Accounts and Error CorrectionMay/June 2022Paper 1 Q71 Mark
At 31 December 2021, the sales ledger control account had a balance of $19100 while the total balances in the sales ledger were $20900. The following reconciliation statement had been prepared after the errors were located. balance of sales ledger control account $19100 credit sales omitted from the sales journal $1600 discount allowed understated in sales ledger $200 total of balances in the sales ledger $20900 What is the correct amount of total trade receivables as shown in the statement of financial position?
A$17500
B$18900
C$19300
D$20700
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of control accounts and error correction 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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