Correction of Errors and the Suspense Account · CSEC Principles of Accounts

10 past-paper questions on Correction of Errors and the Suspense Account, part of Section 7: Control Systems, from every CSEC Principles of Accounts paper on Quelpr.

1. 3(a)(i)5 marks· CSEC Principles of Accounts · January 2010 · Paper 2Draw up the Suspense Account and correct the errors that caused the difference in Beck Hammond's Trial Balance.
2. 3(a)(ii)5 marks· CSEC Principles of Accounts · January 2010 · Paper 2Draft the journal entries necessary to correct the errors which do not affect the Suspense Account.
3. 3(a)(iii)3 marks· CSEC Principles of Accounts · January 2010 · Paper 2Draw up a statement to show the revised net profit.
4. 4(b)5 marks· CSEC Principles of Accounts · January 2011 · Paper 2Write up the Suspense Account showing the correction of the errors.
5. 7(b)5 marks· CSEC Principles of Accounts · January 2011 · Paper 2Mrs Chin Lee recorded net profit of $36 500 for the year ended December 31, 2010. With reference to items (a)(i) to (iv) above, prepare a statement of corrected net profit.
6. 2(a)6 marks· CSEC Principles of Accounts · January 2014 · Paper 2Prepare a statement showing the correct inventory figure for the year ended 31 December 2013, showing clearly the effect of EACH item.
7. 4(b)(iii)5 marks· CSEC Principles of Accounts · January 2017 · Paper 2Prepare the journal entry to correct this balance in Warwreck's owner's personal account, including the date and narrative.
8. 3(a)(i)7 marks· CSEC Principles of Accounts · May/June 2012 · Paper 2Prepare the journal entries to correct the three listed errors (narratives not required).
9. 2(c)5 marks· CSEC Principles of Accounts · May/June 2013 · Paper 2Use the general journal to correct the TWO errors. Narrative for EACH journal entry is required.
10. 2(c)5 marks· CSEC Principles of Accounts · May/June 2016 · Paper 2Calculate Tova Joyce's net profit for the year ended 31 December 2015 after taking into consideration all necessary changes and corrections.