help with plca rec in practice examle

mikes

Hi, i'm trying to do a reconciliation for a plca in a practice exam in Osborne books unit 5 (1st exam task 2.3 - Sarah Glass) However i cannot seem to get the balances from the subsid PL and the PLCA to agree with the adjustments quoted.

The information i have is as follows PLCA = 31500 cr, sub PL = 33770

errors are;
A creditor account with a balance of 290 has been obmitted from the list
A credit purchase of 960 (inclusive of VAT) has been omitted from a creditors account.
Purchae returns of 80 (inclusive of VAT) has been omitted from a creditors account.
A payment to a creditor of 500 has been credited to the creditors account.
A creditos balance of 780 had been entered in the list as 870.

When i do this, i have trying all possible combinations with adding and crediting, but i can not get the two to balance.

Can any one help please.

Thanks.

Richard

You are using an incorrect figure for your PLCA, you should have made an adjustment on your ETB to give you a new balance of 33,850 (Task 2.1 c).

PL = 33770

+ 290

+ 960

- 80

-1000

- 90

= 33850 (PLCA)

mikes

Of course, i forgot about that. Thanks Richard, much appricated.