Question 5
In this question, candidates were required to prepare:
(a) Correct the errors through journal entries;
(b) Prepare Trading, Profit and Loss Account.
Observation
The requirement in 5 (a) aspect of this question is simple journal entries with no narration. In the journal entry, debit entry comes first before credit entry. Most candidates reversed the entry and had no mark for that lack of understanding of the accounting principle. While in question 5 (b), candidates were required to prepare trading, profit and loss account utilizing the correction made in the journal for example the purchases increased to Le 102,000 because of the undercast corrected from the day book.