Accounting 9706 · AS & A Level · Reconciliation and verification
Reconciliation and verification — practice question
Veda runs a retail business, and her accountant recommended that she prepare a trial balance.
(a)[2]
State two advantages of preparing a trial balance.
(b)[7]
Prepare the journal entries that correct each error. Dates and narratives are not required.
(c)[4]
Prepare the suspense account as at 31 March 2023. Dates are not required.
(d)[2]
Define what is meant by ‘error of principle’.
Worked solution & mark scheme
This 15-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Acts as a check on the arithmetical accuracy of double entry” …