Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

Yasmin operates as a sole trader. She has drawn up a trial balance. Certain mistakes are not exposed by a trial balance.
(a(i))[2]

Describe the error of commission. You do not need to give examples.

(a(ii))[2]

Describe the error of original entry. You do not need to include examples.

(a(iii))[2]

Describe the error of principle. You do not need to give examples.

(b)[5]

Prepare the suspense account and show the original difference between the trial balance totals clearly.

(c)[4]

Fill in the table below to work out the corrected profit for the year ended 31 December 2021.

Worked solution & mark scheme

This 15-mark question has a full step-by-step worked solution and mark scheme. One marking point: Right monetary amount entered

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