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CIMA Exam CIMAPRA17-BA3-1 Topic 1 Question 92 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam
Question #: 92
Topic #: 1
[All CIMAPRA17-BA3-1 Questions]

VWX is registered for sales tax in Country B A sales invoice to its mam customer shows the following information:

What journal entry will WVX process to record this transaction in its nominal ledger?

A)

B)

C)

D)

Show Suggested Answer Hide Answer
Suggested Answer: B

by Lashaun at Jul 07, 2024, 07:31 PM

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Fernanda
19 days ago
Haha, this question is a real VAT-ville! I'd go with Option C just to shake things up a bit, you know?
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Cassandra
20 days ago
Option D is the way to go! Separating the sale value and the VAT makes the accounting clearer and more transparent. That's what I'd do.
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Rosamond
3 days ago
Option D seems like the most logical choice for recording the transaction in the nominal ledger. It simplifies the accounting process.
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Maybelle
4 days ago
Yes, separating the sale value and VAT in the journal entry makes the accounting process more transparent and easier to understand.
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Carissa
6 days ago
I agree, Option D is definitely the best choice. It helps in keeping track of the sale value and VAT separately.
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Elza
23 days ago
Hmm, Option A looks good to me. It seems to capture the total amount received from the customer, including the VAT. Simple and straightforward.
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Kris
2 days ago
User 3: I agree, Option A looks like the most straightforward option.
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In
13 days ago
User 2: Yeah, Option A seems to cover everything nicely.
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Rebbecca
20 days ago
User 1: I think Option A is the best choice.
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Merissa
26 days ago
Because based on the information provided in the sales invoice, Option C aligns better with the transaction details
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Ronald
30 days ago
Why do you think Option C is the correct journal entry?
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Merissa
1 months ago
I disagree, I believe it should be Option C
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Gilma
1 months ago
I think Option B is the correct answer. The invoice shows the sale of goods with VAT, so the journal entry should reflect the sale value and the VAT amount separately.
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Cyndy
1 months ago
User 2
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Cristen
1 months ago
User 1
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Ronald
1 months ago
I think the journal entry should be Option A
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