SLCA Recs

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:23AM in AAT student discussion
Hi,<BR><BR>I have to resit a question to pass my Unit 3 test. I'm pretty sure I've done everything correctly but have a £2 difference.<BR><BR>I'm really stuck - can't figure out how to balance my SLCA balance with the personal a/c balances.<BR><BR>This is what I have done:<BR><BR>Sales omitted from SLCA - DEBITED SLCA<BR>Debtor's balance not included in SLCA - DEBITED SLCA<BR>Cash received tranposed - CREDITED SLCA<BR>Discounts Allowed not included in SLCA - CREDITED SLCA<BR>Personal a/c undercast - DEBITED SLCA<BR>Contra entry with purchase ledger - CREDITED SLCA<BR>Bad Debt not entered in SLCA - CREDITED SLCA<BR>Cash rec'd posted wrong way - CREDITED SLCA<BR>Discount rec'd debited to personal a/c - CREDITED SLCA<BR>Returns inwards not included in SLCA - CREDITED SLCA<BR>Cash Rec'd error recorded incorrectly - CREDITED SLCA<BR>Chq dishonoured - DEBITED SLCA<BR><BR>Only have one figure ending in £2 which is £72 (80-8).<BR><BR>I'd be so grateful is someone can help me. I'm on the intermediate stage and would like to get this unit passed.<BR><BR>Assuming most of my amended SLCA is right, could I still pass, even with the £2 difference in my reconciliation?<BR><BR>mi|kshake~

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    SLCA Recs

    is it poss for u to post the question or send it by email?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    SLCA Recs

    <BR>It's a bit difficult to tell, but are you sure everything should have gone to the SLCA and nothing to the individual accounts?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    SLCA Recs

    Here's the full question:<BR><BR>"....the accountant discovers that the total of all the personal accounts in the sales ledger amounts to £12802, whereas the balance on the sales ledger control account is £12550.<BR><BR>The following errors were discovered:<BR><BR>1) Sales for the week, amounting to £850 had been omitted from the control account.<BR><BR>2) A debtor's account balance of £300 had not been included in the list of balances.<BR><BR>3) Cash received of £750 had been entered in a personal account as £570<BR><BR>4) Discounts allowed totalling £100 had not been entered in the control account.<BR><BR>5) A personal account balance had been undercast by £200<BR><BR>6) A contra item of £400 with the purchase ledger had not been entered in the control account.<BR><BR>7) A bad debt of £500 had not been entered in the control account.<BR><BR>8) Cash received of £250 had been debited to a personal account.<BR><BR>9) Discounts received of £50 had been debited to Bell's sale ledger account,<BR><BR>10) Returns inwards valued at £200 had not been included in the control account.<BR><BR>11) Cash received of £80 had been credited to a personal account at £8.<BR><BR>12) A cheque for £300 received from a customer had been dishonoured by the bank, but no adjustments had been made in the control account.<BR><BR><BR>Tasks:<BR><BR>a) Prepare a corrected sales ledger control account, bringing down the amended balance as at 1 November 20X7<BR><BR>b) Prepare a statement showing the adjustments that are necessary to the list of personal account balances so that it reconciles with the amended sales ledger control account balance.<BR><BR>Thanks!!<BR><BR>mi|kshake~

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