295 prompts matching "departmental and branch accounts"
Quiz: Posting the difference in the trial balance to suspense
Act as my SS3 Financial Accounting tutor and quiz me on posting the difference in the tria
WAEC prep: The effect of suspense entries on reported profit
Act as a WAEC/NECO Financial Accounting examiner. I am in SS 3. Set me five exam-style que
Practice set: Restating a reported profit once suspense entries are cleared
Act as my SS3 Financial Accounting tutor. Give me five practice questions on restating a r
Spot my mistake: Treating a sales invoice as a record of cash received rather than of a credit sale
Act as my SS3 Financial Accounting tutor. Write a short answer on treating a sales invoice
Spot my mistake: Assuming the bank statement must be wrong whenever it disagrees with the cash book
Act as my SS3 Financial Accounting tutor. Write a short answer on assuming the bank statem
Spot my mistake: Adding carriage outwards to the cost of goods sold
Act as my SS3 Financial Accounting tutor. Write a short answer on adding carriage outwards
Spot my mistake: Recording a prepaid expense as a liability instead of an asset
Act as my SS3 Financial Accounting tutor. Write a short answer on recording a prepaid expe
Spot my mistake: Charging the whole new provision for doubtful debts against profit instead of only the increase
Act as my SS3 Financial Accounting tutor. Write a short answer on charging the whole new p
Spot my mistake: Treating a general reserve as cash the company is holding for future use
Act as my SS3 Financial Accounting tutor. Write a short answer on treating a general reser
Spot my mistake: Including factory overheads in prime cost
Act as my SS3 Financial Accounting tutor. Write a short answer on including factory overhe
Spot my mistake: Crediting interest on drawings to a partner instead of charging it against them
Act as my SS3 Financial Accounting tutor. Write a short answer on crediting interest on dr
Spot my mistake: Repaying partners their capital before the firm's outside creditors on dissolution
Act as my SS3 Financial Accounting tutor. Write a short answer on repaying partners their
Spot my mistake: Treating share premium as a trading profit available for dividend
Act as my SS3 Financial Accounting tutor. Write a short answer on treating share premium a
Spot my mistake: Treating a proposed dividend as an expense of the year rather than an appropriation of profit
Act as my SS3 Financial Accounting tutor. Write a short answer on treating a proposed divi
Spot my mistake: Treating input VAT paid on purchases as an expense of the business
Act as my SS3 Financial Accounting tutor. Write a short answer on treating input VAT paid
Spot my mistake: Treating the most detailed report as automatically the most useful one
Act as my SS3 Financial Accounting tutor. Write a short answer on treating the most detail
Spot my mistake: Calculating margin on cost instead of on selling price
Act as my SS3 Financial Accounting tutor. Write a short answer on calculating margin on co
Spot my mistake: Applying the straight line rate to the reducing book value each year
Act as my SS3 Financial Accounting tutor. Write a short answer on applying the straight li
Spot my mistake: Deducting scrap value before applying the reducing balance rate
Act as my SS3 Financial Accounting tutor. Write a short answer on deducting scrap value be
Spot my mistake: Reading the revaluation method of depreciation as a revaluation of the asset upwards
Act as my SS3 Financial Accounting tutor. Write a short answer on reading the revaluation