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    Accounting Errata Document 2024

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    khadija2905

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    Accounting Errata Document 2024

    Uploaded by

    khadija2905
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    accounting errata document 2024

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    6 views2 pages

    Accounting Errata Document 2024

    Uploaded by

    khadija2905

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 2

    Accounting Errata document

    2024
    ERRATA AND CLARIFICATIONS

    WORKBOOK
    Chapter 11 Section 5.2.1
    In the worked example: Bonus issue, dividends and retained earnings the paragraph before the
    requirement should read:

    At the start of the year the company had 100,000 £1 equity shares in issue and retained earnings
    of £800,000. During the year the company made a profit of £370,000 and made a 1 for 10 bonus
    issue of shares from the retained earnings account. At the end of the year the company had
    retained earnings of £1,140,000.

    QUESTION BANK
    Chapter 6 Question 24
    One of the dates given is incorrect, it should read as follows:
    “Catt plc has now discovered that at both the beginning and the end of the period, one line of
    inventory, the Sungsa, has been included at selling price: £1,240 at 31 May 20X1 and £3,720 at 1
    June 20X0.”

    Chapter 9 Question 33
    The months the payment dates for telephone rental charges are incorrect and should read as
    follows:
    “It also pays telephone rental charges quarterly in arrears at the end of February, May, August and
    November. The total internet server charge for the year to 30 April 20X6 was £9,000.”

    Chapter 16, Question 1


    In the solution working 5 Inventories has the correct total but the working is incorrect as shown
    below:

    Finished games (180,000 – (5,000-500)) (180,000 – (10 x £450)) 175,500

    WIP 140,000

    315,500

    Accounting Errata Sheet 2024


    Page 1 of 2
    Appendix, suggested structure for mock exams in 2024
    The table showing which questions to attempt for sample exams needs some questions replacing,
    as shown below:

    Question to replace Current question Amend to Reason

    Sample 2 Q8 Ch6 Q5 Ch6 Q17 Same as Sample 1 Q10


    Sample 3 Q6 Ch15 Q10 Ch15 Q13 LO 3c Same as Sample 1 Q25
    Sample 3 Q12 Ch7 Q33 Ch7 Q27 LO 2a Same as Sample 2 Q12
    Sample 3 Q13 Ch8 Q23 Ch8 Q11 LO 1d 3c Same as Sample 1 Q14
    Sample 3 Q22 Ch13 Q10 Ch13 Q9 LO 3c Same as Sample 2 Q21
    Sample 3 Q25 Ch15 Q21 Ch15 Q1 LO 1d 1e 2c No Q21 in Chapter 15

    Accounting Errata Sheet 2024


    Page 2 of 2

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