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Trial Balance NVQ exam

bobbyl1984bobbyl1984 Just JoinedRegistered Posts: 2
Hi All, just a quick question regarding the december 08 exam.
My trial balance did not balance by £210.00, i know why it hasnt now because i did not deeduct the vat from the cash book, this threw me at first because VAt has never been in the past papers or cash sales.

i am fairly confident i did the rest of the exam correctly, but will i be failed based upon that the trial balance did not balance? i put a suspence account in to cover the difference and am certail that i got all of section 2 correct?

Comments

  • LilyflowerLilyflower Feels At Home Registered Posts: 54
    No you won't fail! not posting the correct amount thus leading to an incorrect TB will cost you perhaps 3 marks.

    Lily xxxxxxxxxxxxxxxxx
  • blobbyhblobbyh Font Of All Knowledge Registered Posts: 2,415
    Someone with a similar name to my own!

    The imbalance on the TB is an error but since you knew how to put in a suspense a/c forcing the sides to level (which is what we do in real life), you'll only lose a few minor points. The examiner will know you spotted the imbalance and that you knew how to provide the temporary fix.

    If you feel positive about the rest of the paper then you have little to worry about over the next couple of months.
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