A-LevelAccountingCorrection of ErrorsMay/June 2024Paper 1 Q71 Mark
The following errors in the accounting records have been found and corrected. 1 A purchase invoice for $250 was omitted from the books of account. 2 A sale for $120 to X was debited to the account of Y. 3 The sales journal was overcast by $100. The gross profit for the year before correcting the errors was $60 200. What is the correct gross profit for the year?
A$59 850
B$59 970
C$60 350
D$60 550
✓ Correct Answer
The correct answer is A: $59 850
📋 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...
🎯 Mark Scheme Breakdown
Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.
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