Verification of Accounting Records

Worked examples (6)

• 1Which Errors Affect the Suspense Account? (4 marks)
• 2One Correcting Journal Entry with a Narrative (3 marks)
• 3Clear a Suspense Account Using Journal Entries (7 marks)
• 4Calculate Corrected Profit (6 marks)
• 5Write Journal Entries to Correct Three Errors (9 marks)
• 6Statement of Corrected Profit and Revised Capital (8 marks)

Model answers (6)

• ✓Model answer — Paper 1 short-answer style
• ✓Model answer — Paper 1 short-answer style
• ✓Model answer — Paper 2 structured style
• ✓Model answer — Paper 2 structured style
• ✓Model answer — Paper 2 evaluation (AO3) style
• ✓Model answer — Paper 2 analysis/interpretation style

Worked examples (6)

• 1Classify each balance as debit or credit (3 marks)
• 2Use the trial balance totals to find a missing capital (2 marks)
• 3Prepare a trial balance from given balances (8 marks)
• 4Prepare a trial balance containing trap items (8 marks)
• 5Prepare the trial balance at the year end from a full list of balances (10 marks)
• 6Explain a difference and propose a correction (6 marks)

Model answers (6)

• ✓Model answer — Paper 1 short-answer style
• ✓Model answer — Paper 1 short-answer style
• ✓Model answer — Paper 2 structured style
• ✓Model answer — Paper 2 structured style
• ✓Model answer — Paper 2 evaluation (AO3) style
• ✓Model answer — Paper 2 structured style

Worked examples (6)

• 1Classify each difference: cash book update or reconciling item? (4 marks)
• 2Update the cash book and find the correct balance (3 marks)
• 3Update the cash book and prepare the bank reconciliation statement (8 marks)
• 4Reconciliation including a dishonoured cheque (6 marks)
• 5Bank reconciliation starting from an overdraft (7 marks)
• 6Work backwards: find the unpresented cheques (6 marks)

Model answers (6)

• ✓Model answer — Paper 1 short-answer style
• ✓Model answer — Paper 1 short-answer style
• ✓Model answer — Paper 2 structured style
• ✓Model answer — Paper 2 structured style
• ✓Model answer — Paper 2 structured style
• ✓Model answer — Paper 2 evaluation (AO3) style

Worked examples (6)

• 1Classify entries by side of the SLCA (4 marks)
• 2Purpose and source documents of a control account (4 marks)
• 3Prepare a Purchases Ledger Control Account (6 marks)
• 4Prepare a Sales Ledger Control Account with a dishonoured cheque (8 marks)
• 5Find the missing figure for credit sales (5 marks)
• 6Prepare a complete Sales Ledger Control Account from full data (10 marks)

Model answers (6)

• ✓Model answer — Paper 1 short-answer style
• ✓Model answer — Paper 1 short-answer style
• ✓Model answer — Paper 2 structured style
• ✓Model answer — Paper 2 structured style
• ✓Model answer — Paper 2 evaluation (AO3) style
• ✓Model answer — Paper 2 analysis/interpretation style