• We need your support!

    We are currently struggling to cover the operational costs of Xtremepapers, as a result we might have to shut this website down. Please donate if we have helped you and help make a difference in other students' lives!
    Click here to Donate Now (View Announcement)

Accounting Paper 22 - Discussions after 24 hours

Messages
143
Reaction score
93
Points
38
Nd yeah the ans to what will cause the trial balance not tobalance wont it be discount allowed written as discount received as DA is debit nd DR is credit the credit side will be higher ?
 
Messages
553
Reaction score
1,080
Points
73
Nd what was the answer for that non current asset turnover ? Which increase from 3.4 to 4
Dep charge higher than cost purchased. Was C i think.
What about the loan of $30000 it was s current lusbility of $900 and non current liability of $ 300000?
Yes.
Nd yeah the ans to what will cause the trial balance not tobalance wont it be discount allowed written as discount received as DA is debit nd DR is credit the credit side will be higher ?
Can be, but my point on that was, what if discount allowed had been entered on the debit side of the DR account? They haveent mentioned any sides so cant jump into any conclusions. Not saying its wrong, but.. ah.. idk..
Any idea why transposition can be wrong??
 
Messages
1,564
Reaction score
4,031
Points
273
Transposition error while extracting the trial balance. not in the entry itself.
And what was the answer to that 10000 loan was to be repaid before the next financial year. So was it current liabilty??
 
Messages
886
Reaction score
1,252
Points
153
Transposition error while extracting the trial balance. not in the entry itself.
transposition error in this sense > like we put transposition error in both the entries .. so TB would still balance
anyway no use discussing these answers :p
 
Top