[Lizzerz79]

I’m going over some of the Becker simulations and I noticed a couple of places where I combined two lines (where hitting same account) and Becker did not. Now I’m wondering if that will count against me on the actual exam. The bottom line both methods are correct and combining lines is the way I was taught to do it.

Example:

In a problem where you make AJEs to get company from cash to accrual…

2) The company has goods with a cost of $12000 in its warehouse at year end. The company owes its supplier for all of these goods, plus they owe another $2000 on a prior shipment that was sold during the year.

My JE:

Inventory DB 12000

Cost of Sales DB 2000

Accounts Payable CR 14000

Becker Solution:

Inventory DB 12000

Accounts Payable CR 12000

Cost of Sales DB 2000

Accounts Payable CR 2000

So what do y’all think? Should I try to remember not to combine lines?

AUD 4/1/12 98
FAR 5/30/12 96
BEC 7/1/12 92
REG 8/18/12 94

[Anonymous]

This type of question has come up more than once so I searched again and couldn't find anything. I sent an e-mail to the AICPA to ask them if there is a standard format for journal entries on the exam and if so could they please point me in the right direction. If I get a reply I will post it on here.

[Anonymous]

This is the e-mail that I got this morning from the AICPA:

“Thank you for contacting the AICPA regarding the general format of journal entries on the CPA Exam.

Your request is being researched. A follow-up email will be sent within 5-7 business days.

We appreciate your patience. Please let us know if we may be of any further assistance in the meantime.”

I just knew for sure I'd have to wait until tomorrow to get any kind of answer. At least I know they are trying to answer the question. I'm impressed!

[Lizzerz79]

Thanks for checking into this!

AUD 4/1/12 98
FAR 5/30/12 96
BEC 7/1/12 92
REG 8/18/12 94

[kr557]

In my experience, you can't select the same account more than once on the same J/E. But that may not be true for all.

BEC - 81 (Nov 2011)
FAR - 87 (May 2012)(Skipped 1st window)
AUD - 80 (Aug 2012)
REG - 81 (Nov 2012)

[Author]

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