Journal Entry Simulation Questions – How to handle Credit Entries?

  • Creator
    Topic
  • #183880
    sooner2k1
    Member

    Hi Guys,

    I’ve used about every type of study material available (Becker, Wiley, Gleim, and CPA excel) to study AUD because I keep coming up just short and i’m really starting to worry that i’m missing points on the automated grading because i’m not sure whether or not to include a negative sign before my JE credit entry.

    I was taught to include the negative (or parenthesis) around the credit side of the entry. I have also had this go through as an acceptable answer with one or two of the sims, but on others i’ve noticed that it will mark my simulation answer completely wrong if I make the credit entry negative.

Viewing 15 replies - 1 through 15 (of 16 total)
  • Author
    Replies
  • #518130
    Tncincy
    Participant

    I don't remember seeing a negative in a j.e.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass

    It begins with a 75
    Been here too long as a cheerleader....ready to pass

    #518165
    Tncincy
    Participant

    I don't remember seeing a negative in a j.e.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass

    It begins with a 75
    Been here too long as a cheerleader....ready to pass

    #518132
    sooner2k1
    Member

    I really thought that I have seen simulation questions where they set it up in such a way that a negative was necessary to differentiate between the debit and the credit. Maybe i'm just imagining that?

    #518167
    sooner2k1
    Member

    I really thought that I have seen simulation questions where they set it up in such a way that a negative was necessary to differentiate between the debit and the credit. Maybe i'm just imagining that?

    #518134
    Anonymous
    Inactive

    If I recall correctly, the sims will provide specific instructions on when to use negative numbers or not. Make sure to read the instructions carefully. I remember having these issues when doing practice sims with Gleim, so I was able to make the adjustment before the exam.

    #518169
    Anonymous
    Inactive

    If I recall correctly, the sims will provide specific instructions on when to use negative numbers or not. Make sure to read the instructions carefully. I remember having these issues when doing practice sims with Gleim, so I was able to make the adjustment before the exam.

    #518136
    stoleway
    Participant

    You always want to read the instruction very well when you're solving a simulation question.

    Sometimes the additional instruction will ask you to prefix losses/expenses or liabilities with a negative sign.

    You might also be required on certain occasions to put zeros or leave your boxes blank if needed.

    The key to passing this exam has also got to do with how well you understand those instructions.

    Good luck

    REG -63│ 84!!
    BEC- 59│70│ 71 │78!
    AUD- 75!
    FAR- 87!

    Mass-CPA

    #518171
    stoleway
    Participant

    You always want to read the instruction very well when you're solving a simulation question.

    Sometimes the additional instruction will ask you to prefix losses/expenses or liabilities with a negative sign.

    You might also be required on certain occasions to put zeros or leave your boxes blank if needed.

    The key to passing this exam has also got to do with how well you understand those instructions.

    Good luck

    REG -63│ 84!!
    BEC- 59│70│ 71 │78!
    AUD- 75!
    FAR- 87!

    Mass-CPA

    #518138
    Anonymous
    Inactive

    Do not use negatives in JEs. The system can read it is a credit because it will be in the right hand column.

    #518173
    Anonymous
    Inactive

    Do not use negatives in JEs. The system can read it is a credit because it will be in the right hand column.

    #518140
    sewatk01
    Participant

    In WTB, it seemed like we used negative signs for worksheets (that weren't laid out specifically for debit side vs. credit side so it could be determined if you knew whether the adjustment would be a debit or credit to the account. However, for sims setup specifically for journal entries (left and right columns), do not use negative numbers.

    LinkedIn: www.linkedin.com/in/sarahharrisberger

    BEC - 12/13 88!
    FAR - 2/14 82 Thank goodness!!! đŸ™‚
    REG - 7/14 81
    AUD - 8/14

    #518175
    sewatk01
    Participant

    In WTB, it seemed like we used negative signs for worksheets (that weren't laid out specifically for debit side vs. credit side so it could be determined if you knew whether the adjustment would be a debit or credit to the account. However, for sims setup specifically for journal entries (left and right columns), do not use negative numbers.

    LinkedIn: www.linkedin.com/in/sarahharrisberger

    BEC - 12/13 88!
    FAR - 2/14 82 Thank goodness!!! đŸ™‚
    REG - 7/14 81
    AUD - 8/14

    #518142
    Kimboroni
    Member

    ...it seemed like we used negative signs for worksheets (that weren't laid out specifically for debit side vs. credit side) so it could be determined if you knew whether the adjustment would be a debit or credit to the account. However, for sims setup specifically for journal entries (left and right columns), do not use negative numbers.

    This is my recollection for the exam. And read the instructions carefully, as others said.

    AUD 84 (1/9/14-Wiley books/TB + free materials)
    FAR 83 (5/21/14-the above + NINJA 10 Pt Combo Lite)
    REG 84 (7/9/14-Wiley books/TB + NINJA Audio/FC/Notes)
    BEC 76 (10/5/14-Wiley books/TB + NINJA Audio/FC)

    Disclaimer: My ninja avatar is not meant to imply that I have any affiliation with this site other than being a forum member. That's a pic of a T-shirt that my daughter gave me for my birthday. đŸ™‚

    #518177
    Kimboroni
    Member

    ...it seemed like we used negative signs for worksheets (that weren't laid out specifically for debit side vs. credit side) so it could be determined if you knew whether the adjustment would be a debit or credit to the account. However, for sims setup specifically for journal entries (left and right columns), do not use negative numbers.

    This is my recollection for the exam. And read the instructions carefully, as others said.

    AUD 84 (1/9/14-Wiley books/TB + free materials)
    FAR 83 (5/21/14-the above + NINJA 10 Pt Combo Lite)
    REG 84 (7/9/14-Wiley books/TB + NINJA Audio/FC/Notes)
    BEC 76 (10/5/14-Wiley books/TB + NINJA Audio/FC)

    Disclaimer: My ninja avatar is not meant to imply that I have any affiliation with this site other than being a forum member. That's a pic of a T-shirt that my daughter gave me for my birthday. đŸ™‚

    #518144
    sooner2k1
    Member

    Thanks everyone for the input!

Viewing 15 replies - 1 through 15 (of 16 total)
  • You must be logged in to reply to this topic.