Accounting doubts & Queries

[Sarah Paul]

Check

sir thank you so much sir i got them

 

[AlphaBeta]

MCQ pack question 76 answer should be D right?
is there any A2 MCQ pack?

 

[hitler575]

Yes it's D, mistakenly I have written A.

 

[mmmmmm]

@hitler575 Sir, can i have those important mcq's. My e-mail address is: [email protected]. Thanks.

 

[hitler575]

@hitler575 Sir, can i have those important mcq's. My e-mail address is: [email protected]. Thanks.

check

 

[hitler575]

mcq set for a2 practice paper ..... if there is any

Will prepare it in a week time. Will send you. Do give me your email address.

 

[AlphaBeta]

Will prepare it in a week time. Will send you. Do give me your email address.

a2 mcq set for me too...
email Address - [email protected]

 

[mmmmmm]

check

thank u, sir.

 

[mmmmmm]

Will prepare it in a week time. Will send you. Do give me your email address.

Sir, i also want those A2 mcq's pack. My email address is: [email protected].

 

[panoramafolks]

Will prepare it in a week time. Will send you. Do give me your email address.

for me also a2 set of mcq [email protected]

 

[studyresourcecentre]

Accounting free resources
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---Parth Mehta---

 

[ICCWC2015]

A credit note for $46 sent to A. Moses has been debited to A. Mason's account in the sales ledger. What effect will this have on the trial balance?
Debit total Credit total
A.NONE NONE
B.$46 OVERSTATED $46 UNDERSTATED
C.NONE $92 UNDERSTATED
D.$92 OVERSTATED NONE

 

[AlphaBeta]

A credit note for $46 sent to A. Moses has been debited to A. Mason's account in the sales ledger. What effect will this have on the trial balance?
Debit total Credit total
A.NONE NONE
B.$46 OVERSTATED $46 UNDERSTATED
C.NONE $92 UNDERSTATED
D.$92 OVERSTATED NONE

A

 

[mmmmmm]

Accounting free resources
Dear Friends,

The very tough journey has now come to an end.

www.studyresourcecentre.in is a platform where you can find all valuable and helpful notes for Cambridge University Examinations.Presently it has a variety of study materials for the Cambrdige IGCSE/O levels and International AS and A levels. The very difficult task of searching for unnecessary notes and wasting your time has now ended.Now you get the opportunity to download as many materials as you want as we have taken years to gather these resources just for you, download at one click and the best of all is it’s files highlighted in RED. Mystudyresource centre includes various Solved past papers,Typed notes,Courseworks,Projects,Case study answers,Long essays,crosswords,ppts and more….

It’s of immense joy to announce you that our website has been launched today.So,so you can share our website to your friends and colleagues and help them because “Sharing is caring”.A very happy New Year in advance.Happy 2014. So what are you waiting for?? Click: www.studyresourcecentre.in




---Parth Mehta---

thanks, friend.

 

[studyresourcecentre]

thanks, friend.

Do recommend our website to your colleagues, as we definitely know that everybody is going to find it really helpful as it is loaded with proper valuable resources.

Thank you.

 

[ICCWC2015]

Ans> A
View attachment 34000

but the book's answer says B

 

[panoramafolks]

but the book's answer says B

I m sorry... the credit note was sent so Purchase ledger balance should decrease but is more so $46 overstated on Debit and bcoz we have debited sales ledger so $46 decrease which should no be case and sales ledger should be higher so $46 credit side understated
thx for helping

 

[hitler575]

A credit note for $46 sent to A. Moses has been debited to A. Mason's account in the sales ledger. What effect will this have on the trial balance?
Debit total Credit total
A.NONE NONE
B.$46 OVERSTATED $46 UNDERSTATED
C.NONE $92 UNDERSTATED
D.$92 OVERSTATED NONE[/quot

A "credit note sent" means that you are informing your receivable that you are crediting his account mostly due to sales returns.

Therefore actual entry should have been: Sales Returns 46Dr, A.Moses 46Cr
However the incorrect entry he made is: Sales Returns 46Dr A.Mason's 46Dr, NilCr

It could be clearly seen in comparison with actual entry that Debit side is overstated by 46 and credit side understated by 46.
As the question clearly says A.Mason's account is in sales ledger therefore it has no link with Purchases or Purchase returns.
Credit note is always sent from seller to buyer meaning to your customer or T.receivable.

 

[AlphaBeta]

Will prepare it in a week time. Will send you. Do give me your email address.

i didnt Still get the a2 mcq pack ...email address is [email protected] hope i get it soon

 

[sweetiepie]

https://www.xtremepapers.com/commun...ounting-business-post-your-doubts-here.10459/ ask here as the thread is already there why are you people waste your time making new threads