Accounting 9706 · AS & A Level · The accounting system
The accounting system — practice question
Simone uses a double entry book-keeping system.
(a)[2]
Explain why a trial balance can be arithmetically correct even when errors have been identified.
(b)[4]
Prepare the journal entries that correct the errors. Narratives are not needed.
(c)[6]
Calculate the profit for the year after the errors have been corrected.
(d)[3]
State three uses of the general journal apart from correcting errors.
Worked solution & mark scheme
This 15-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Certain errors (e.g. omission, commission, principle, original entry, reversal, compensating) are not revealed by the trial balance” …