PQ article on journals to correct errors

[@petersmith5978]

Very clear and easy to understand, thank you.

[@sudipachakravarty2332]

I can't figure if you are being sarcastic or real🤔🤔

[@carmenp5094]

Thank you. This helped me to understand better.

[@louisepurvis7306]

excellent, very clear, really helps to work through examples.

[@sabrinam4335]

Thank you! Much appreciated 💚

[@alexcianelson]

Thank you, your explanation is clear.

[@g-unit8478]

that was beuatiful sir

[@2LT623]

Why don't you use suspense account to correct error to the second question?

[@ArtKickers]

AQA 2015, Unit 1 Qu. Doreen has extracted a trial balance for her engineering business at 31 January 2015. The totals of the trial balance did not agree and a suspense account has been opened to enable the financial statements to be produced. The following errors have now been discovered. (1) She has forgotten to record a cash payment to the cleaner for £95. (2) Her sales day book total was overstated by £650. (3) Petrol expenses of £450 have been entered into the car insurance account. (4) Doreen has treated as business expenses a family holiday costing £895. (5) Doreen paid a supplier, Craig, by cheque £645. The entries made for the cheque were to debit the bank account with £546 and credit Craig’s account with £456. I don't understand why a suspense entry would be needed for (2) (mark scheme shows credit sales by 650 for suspense)- but if the SDB is overstated by the amount, won't the trade receivables and sales a/cs be overstated by the same amount too, so cancel each other?

[@sudipachakravarty2332]

So, when any form of 'sales' occurs, trade receivables are never affected as the customer has already paid for it and, they don't have anything to give back to you.

[@theklick1]

Great video!

[@ingridabaranauskiene6489]

Your videos are so helpful! many thanks

[@firstintuition]

You're very welcome!

[@chucky5384]

need more videos in correcting errors sir

[@mpphanmp2774]

how if only dr / cr one site only (wrongly recorded as single entry)？may i know how to do the journal entry to record the error？

[@naimaomar8753]

Thank you a lot you helped me very much

[@irenediaz605]

YOU ARE AMAZING!.THANK YOU

[@monaelhag492]

Very helpful

[@daliakarsani9651]

Thanks

[@agnesgondo3286]

thanks

[@alszkx3021]

Eliminate 😂