The 'Official' FRA Answers

louise harrison

hi can you forward the answers to me please for fra
louiserusty6@hotmail.com or if you have put them on the forum could you tell me where. im getting so stressed. cheers

A-Vic

miskysbabe wrote: »

Did no-one have trouble with this question?
Section 2 (e)
A bank payment for insurance of £500 has been debited twice to the insurance account. No other entries were made.

I cleared the suspense account but I didn't think clearly and put CR £1000 to insurance, it must be CR 500 bank CR 500 insurance and DR Suspense 1000

Anyway, I think this question was not clear at all!
:crying:

When it says no other entries where made am sure you only have to credit insurance 500 and db bank suspence account was not involved - but its been a while since ive done this so i might be wrong

rachy1975

A-Vic wrote: »

When it says no other entries where made am sure you only have to credit insurance 500 and db bank suspence account was not involved - but its been a while since ive done this so i might be wrong

im pretty sure that when it says no other entries were made the other side has automatically gone into a suspence account...thats what my tutor in college always told us...