Little help needed please :(

AATGirlAATGirl New MemberPosts: 10Registered
I have my BA2 exam next week and struggling with a few little bits if someone can help me in any way i would be so grateful.

Getting confused which way to remove the incorrect entry from the suspense account task. Really how to identify them and do them round the correct way!! aarrrhh

Think the other is really transactions of the suppliers its throwing me a bit other than that i think i am nearly there but not very confident :(

Can anyone help or guide me?

Thank you

Comments

  • RobClarkeRobClarke Experienced Mentor Posts: 820Registered
    Do you have a specific example question you can post, then I am sure one of us can help?
  • AATGirlAATGirl New Member Posts: 10Registered
    Hi

    No not really.

    I am going through the practice ones in the book and on the parts when you have to adjust the balances and enter them to the trial balance.
  • RobClarkeRobClarke Experienced Mentor Posts: 820Registered
    The way I did these particular questions was:

    Get pen and paper, and draw up some T accounts.

    Do T-accounts for the suspense account (putting in the opening balance, credit or debit, depending on the information you are given in the trial balance. Then make t-accounts for the other ledger accounts (and include the opening balances as per the trial balance, just make sure you put them into the correct credit or debit columns!) that you know are incorrect (ie the ones listed in the journal entries)

    Then it should be a simple exercise of just going through the journal entries one by one and enter them into the appropriate t-accounts. Once this is done then balance them (if done correctly the suspense account should balance to zero)

    Enter the new balances into the trial balance, add the other balances that did not need to be amended - and bobs your uncle - the balance should balance :)
  • AATGirlAATGirl New Member Posts: 10Registered
    Hi

    Thank you for the help. I will try that later.

    I have done the practice tests on line and pass but still think I get it the wrong way round :(
  • welshwizardwelshwizard Trusted Regular South WalesPosts: 465Registered
    Hi there

    Do not despair!

    A good way to approach these is:
    1. establish what has been done (maybe using t-accounts)
    2. reverse the original error (i.e. go back to before the original entry was made)
    3. make the correct entry

    This is the way I teach my students to deal with corrections (you'll get lots more at level 3 I can assure you!)

    If you have any specific examples, maybe you could post them here for us to help you?
    :tongue_smilie:
    Good luck

    WWZ
  • AATGirlAATGirl New Member Posts: 10Registered
    Thank you for that.

    I just cant get it the right way round.
    Wish i was in your class and not home study
    its the problem in the practice exams task 1.4 in the bpp books

    i really hope that it sinks in before next week
  • VleeVlee Well-Known Posts: 136Registered
    It definitely helps to write down what happened and what should've happened on a piece of paper. You should be able to do this in the exam and you'll have plenty of time to work through each question. This has also helped me with errors with suspense accounts, especially clearing the suspense account. This is the trickiest bit at L2 but you should crack it if you keep following the steps and practicing - MyAAT has some e learning slides on this which may be helpful.

    Correcting the trial balance is also tricky as the error amount is added or subtracted depending on whether it's a C or D error amount and C or D amount of the trial balance. Keep practicing and it will sink in even if it feels like your brain is being twisted into knots it will click soon.
  • welshwizardwelshwizard Trusted Regular South WalesPosts: 465Registered
    An excellent tip there - the E-learning/Green Light materials are there to support you for just this reason! I often direct my students to them (for all units) as you learn far more this way than having someone standing in front of a class jabbering on for hours. The E-materials are great quality and (generally) accurate and provide a superb back-up for you in times of need.

    It is very hard to study via distance learning and you have my repsect as I knwo forst hand how difficult it is to get to grips with key concepts on your own.

    Keep going!
  • AATGirlAATGirl New Member Posts: 10Registered
    Thank you all for the advise.

    I am finding it hard sometimes distance learning, just hope it sinks in before next week :( i work for a well known holiday company and they are paying for it so i am more under pressure i think.

    I have done the practice tests on the assessmentsand passed but still worried.

    I really dont know why but i am findng the balances on the summary of transaction part one min it goes in the next its out my head!!
Sign In or Register to comment.