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?

AOption A

BOption B

COption C

DOption D

Show Suggested Answer

Suggested Answer: B

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

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Fernanda

5 months 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

6 months 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

5 months 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

5 months 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

5 months 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

6 months 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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Dwight

4 months ago

Definitely going with Option A then.

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Kris

5 months ago

I agree, Option A looks like the most straightforward option.

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In

5 months ago

Yeah, Option A seems to cover everything nicely.

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Rebbecca

6 months ago

I think Option A is the best choice.

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Merissa

6 months ago

Because based on the information provided in the sales invoice, Option C aligns better with the transaction details

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Ronald

6 months ago

Why do you think Option C is the correct journal entry?

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Merissa

6 months ago

I disagree, I believe it should be Option C

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Gilma

6 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

6 months ago

User 2

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Cristen

6 months ago

User 1

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Ronald

6 months ago

I think the journal entry should be Option A

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