A-LevelAccountingErrors and Suspense AccountsOct/Nov 2015Paper 1 Q141 Mark
Rachel's trial balance did not agree and she placed the difference in a suspense account. The following shows how four errors have been corrected using the suspense account. | suspense account | $ | | $ | |---|---|---|---| | difference in trial balance | 200 | discount received | 310 | | discount allowed | 160 | sundry expenses | 390 | | cash | 340 | | | | | 700 | | 700 | The profit for the year before the errors were corrected was $35400. What is the correct profit for the year?
A$34 520
B$34 540
C$34 860
D$35 480
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding 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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