simulation questions!

katie_lau
katie_lau Just JoinedRegistered Posts: 4
help with this question
I have done my simulation exam yesterday. I still could not figure out the answers for three questions. Can someone help?

1, the company lost the purchases invoices and purchases ledger in the fire. the fire happens after the year end. we can't do the reconciliation for the bank. but they said the purchase is correct. how do you make sure that the purchases figure is correct?

2, the company's stock is partly damaged by fire. so how do we estimate the closing stock? if we can't use the way of sales, purchases, margin figures to calculate stock.

3, to find out why the sales ledger control account fingure has a difference with the sales ledger. there is a contra debited in the one customer's account in sales ledger. and it is credited in the sales ledger control account. I know it is on the wrong side. but why don't we correct it in the journal?

Many thanks

Comments

  • louise
    louise Feels At Home Registered Posts: 49
    simulation

    how did you answer it?

    i did my simulation yesterday i had no clue, i tried but i think its wrong!!!

    louise
  • louise
    louise Feels At Home Registered Posts: 49
    fra simulation !!!!

    help with this question
    I have done my simulation exam yesterday. I still could not figure out the answers for these questions. Can you help me?
  • mobility
    mobility Settling In Nicely Registered Posts: 24
    I thought it was a horrible simulation.

    Q3 took me ages but so glad when eventually clicked and got figure to balance with sales ledger total, think it was to do with Net figure instead of gross
  • louise
    louise Feels At Home Registered Posts: 49
    hey!!

    i thought the same wih question 3, what i did i balanced the account and forgot to adjust the reconciliation tot. silly me!! oh well

    and the adjustment, i get really fustrated cause its always silly mistakes

    louise
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