ETB - Help please?

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
I have the following 2 adjustment to make on an ETB question im doing:

1) 'A bank req was done at the year end and the only reconciling item to appear was a cheque, paid to a supplier of £1000, that has yet to be banked.'

2) 'A prepayment for electric for £500 at the start of the year has not been bought forward in the nominal ledger.'

Any ideas would really help me finish this off.

Thanks



Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:ETB - Help please?

    Hi

    I would have thought you would need to debit creditors (PL Control) and credit bank £1000 and credit electric and debit prepayments £500.

    Tracy

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:ETB - Help please?
    1) 'A bank req was done at the year end and the only reconciling item to appear was a cheque, paid to a supplier of £1000, that has yet to be banked.'
    that would be 1000 cr bank then either dr suspense or PL control as columbia said above.
    2) 'A prepayment for electric for £500 at the start of the year has not been bought forward in the nominal ledger.'
    dr prepayment cr electric

    so basically as tracy put it
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:ETB - Help please?

    duble post
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:ETB - Help please?

    Thanks for that. Great help.

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