[Susan Walker]

I’m working on SIMs for FAR (I’m taking on Monday). I had all of the accounts and debits and credits correct, but it was marked wrong.

To record the issuance of a bond I:

Dr. Cash 235,931

Cr. Premium on Bonds Payable 35,931

Cr. Bonds Payable 200,000

The ‘correct’ answer is:

Dr. Cash 235,931

Cr. Bonds Payable 200,00

Cr. Premium on Bonds Payable 35,931

Question – on the exam does it matter which order you put the accounts in as long as the dr/cr is correct and the amounts? If so, what is the ‘rule’ on this?

Thanks!!

FAR: 69 (10/2012), 70 (4/2015), July 2015
BEC: May 2015
REG: August 2015
AUD: November 2015

[Sleep Optional]

The order shouldn't matter. You should be fine.

BEC x1 - Passed
REG x2 - Passed
Audit x1 - Passed
FAR x2 - Passed

BEC: ☑ x1 attempt(s)
REG: ☑ x2 ''
AUD: ☑ x1 ''
FAR: ☑ x2 ''

Done!

[Susan Walker]

Thank you!

FAR: 69 (10/2012), 70 (4/2015), July 2015
BEC: May 2015
REG: August 2015
AUD: November 2015

[Author]

Replies