Sequencing DRs and CRs

  • Creator
    Topic
  • #1959879
    Asking for a Friend
    Participant

    Any suggestions / help sequencing accounts in the simulation problems? for example, FAR sim 58 requests you to amortize a bond. However, I lost a bunch of points for having bonds payable and premium for bonds payable in reverse order (Both credits). Is it as easy as the highest amt goes first?
    DR Cash
    CR Premium on BP (Considered incorrect although correctly a CR and amount was correct)
    CR Bonds Payable (Considered incorrect although correctly a CR and amount was correct)

    Further, Sim 64, loan 2 was the one where the response has the Credit First, then the debit below it…. ?!?!?!? mind blown.
    Thx in advance!!!

Viewing 5 replies - 1 through 5 (of 5 total)
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  • #1959912
    YouCanDoIt
    Participant

    To be honest, I will add on to it

    Disclaimer: I am just making up random numbers/examples to convey my points:

    Example: if
    x+ y = 2
    z+t= 4
    k+a = suppose to be answer/adjustment, then ARE WE SUPPOSE TO ENTER ZERO's?? or leave it BLANK?

    Another issue:
    When we do JEs
    Example: we paid $10 for inventory purchase:
    Dr. Inventory $10
    Cr. Cash $10
    On the practice SIMs (ninja), we were suppose to put –‘s for the Dr and Cr columns where we did the Cash and Inventory entries , BUT on the actual test…do we leave them blank??? or enter Zero's?

    And then yes, the SEQUENCING, as you mentioned above

    I believe this alone, probably costs us points on the actual test? Because I have no idea how the computer software might be set up to detect these things, and honestly the directions are not clear. The only direction I saw for JE's was : “not all fields need to be completed.” Meaning, if the test gives me 8 blanks to fill in, its okay if my entry only requires 2, and leave the rest blank…

    FAR: 76
    REG: Currently studying
    AUD:
    BEC:

    #1960269
    Anonymous
    Inactive

    Shouldn't matter. This sounds like a weakness of your review course. If you have the right accounts, amounts, and classification (DR/CR), it shouldn't matter what order they are in. I think you'll find instructions on the actual CPA exam are clear if it needs to be in a certain order or format- will tell you all positive whole numbers, loss items as negative, leave unused items blank, enter zeros if a value is zero, etc.


    @Youcandoit
    , I think you are saying in your review course, you need to put dashes on unused entry boxes? If so, don't do this on the actual exam unless you were instructed to which I would be very surprised.

    #1960281
    Anonymous
    Inactive

    I agree with @Chandler-I noticed that Ninja was super picky as to how you enter your entries, whereas Becker would mark them correct as long as you picked the right debits/credits and accounts…I would just say as a rule thumb, DR then CR and follow the directions on the actual exam….

    #1960320
    Recked
    Participant

    The Roger SIMs were also pretty horrible about marking a whole SIM wrong if you got any part of it wrong.
    Second the explanation that the CPA exam instructions are very clear. Do not skim the instructions. That is the most important part, as well as actually reading what the question is asking.
    The devil is in the details on the SIMs. Attention to details will save you time and heartache.

    #1960890
    Asking for a Friend
    Participant

    Thank you for the very helpful feedback! Even if you two were slipping on audit, I'll give you the benefit of the doubt 😉 sheesh

Viewing 5 replies - 1 through 5 (of 5 total)
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