Exam Answers (THERES ARE MINE AND QUITE A FEW WRONG)

[costargh]

Some texts do it differently. I only came across it like 'wages/accrued wages' once so I remembered from that but still got it wrong =(
Consequential marks pleaseee

[smashcunt]

i think you guys have it wrong. there was only supposed to be one accured wage entry at the end of the period rather then monthly accrued wages. so only three lines were required.

[costargh]

Wages/ accrued wages    chq no. a  bank 10000        wages 5000    sundries 5000
Wages                          chq no. b  bank 10000        wages 10000   
Wages                          chq no. c  bank 10000        wages 10000   
Totals                                                 30000                25000                5000

I think it should be like that. Why would you pay the accrued wages at the end of the reporting period? They had to pay the accrued wages at the start of the reporting period to repay the outstanding accrued wages.

This answer was provided by a forumer who got the answer of "one of the best Accounting teachers in the state" and is not my own.

[infraredismybitch]

the last page...
all three months where just 10,000
because accrued wages aren't done until balance day..
thats why there was the accrued wages ledger directly under the cpj

[elaine]

Wages/ accrued wages    chq no. a  bank 10000        wages 5000    sundries 5000
Wages                          chq no. b  bank 10000        wages 10000  
Wages                          chq no. c  bank 10000        wages 10000  
Totals                                                 30000                25000                5000

I think it should be like that. Why would you pay the accrued wages at the end of the reporting period? They had to pay the accrued wages at the start of the reporting period to repay the outstanding accrued wages.

This answer was provided by a forumer who got the answer of "one of the best Accounting teachers in the state" and is not my own.

sucky thing is that i actually got that, only i forgot to TOTAL.
thank god for the 66% of accounting left to salvage

[sophia__]

the last page...
all three months where just 10,000
because accrued wages aren't done until balance day..
thats why there was the accrued wages ledger directly under the cpj

there were acc wages
because balance day was on the 1st of oct. and they had acc wages of 5000
so regardless of when it was incurred, it was still paid, therfore must still be recorded in the CPJ

and they explicitly stated there was acc wages.