A-LevelAccountingError Correction and Suspense AccountsMay/June 2023Paper 1 Q71 Mark
A trial balance did not agree and the book-keeper found the following errors. 1 A bank overdraft of $100 had been shown as a debit in the trial balance. 2 A cash purchase of $160 had been entered in the purchases account as $150; the purchase was entered correctly in the cash account. 3 A telephone invoice for $400 had been debited to the insurance account. The book-keeper opened a suspense account in order to correct the errors. What was the opening entry in the suspense account?
Acredit $190
Bcredit $210
Cdebit $60
Ddebit $550
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of error correction and suspense 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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