Section B: Financial Accounting Practice
Question 8:
In this question, candidates were required to:
(a) Write up the journal entries to correct the errors;
(b)Prepare a Suspense Account.
Observation
Comment
Majority of the candidates avoided the question in (vii) and the few that attempted it missed the interpretation to the narration of the question.
The expectation from candidates was for them to understand that there was no journal entry for the transaction because it was an outright omission from the trial balance and as such, the only entry to be made was to debit the suspense account for the understated amount of GH¢ 540