FRA Exam Today!
haychie
Registered Posts: 23 New contributor 🐸
Good Luck all!
Remember deep breaths!! and stay calm. We have Christmas to look forward to once this is done!! yippee
H
Remember deep breaths!! and stay calm. We have Christmas to look forward to once this is done!! yippee
H
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Comments
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good luck to everyone !!!
unfortunately, i'm working tonight so i look forward to catching up on all your views tomorrow morning/afternoon/evening !
don't forget... if in doubt, use the suspense account.
at least something will add up0 -
Yes thanks! I don't totall understand the b/f c/f in section 1 but i've got my fingers crossed!
I always like to know why we do things that way i can fall back on it.
i.e if i forget how to dispose of an asset i scribble all my t accounts down and start from when it was bought!
Any advice on b/f c/f?
H:ohmy:0 -
dont worry, it confuses me too!!!
good luck every one !!!0 -
well, i'm dis-appointed !!!0
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Can't say much yet but I sat this today found Section 2 quite reasonable but section 1 was quite tricky.0
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i think it all adds up to a 'certificate for attendance' provided that you wrote down your student number correctly !0
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don't think i did very well either! Never mind can't talk about it just yet but i found the whole thing tricky! but then it could just be me!
When i first looked at the paper i though hey this looks okay! But nothing went right!! anyways fingers crossed for us all!! :crying:0 -
As its after 8pm we can now discuss it.
I could not get the trial balance to balance, so i dropped in a suspense account? did anyone else have problems? Section 1 caused me a fair few problems and the more i looked at it the more i changed things :001_unsure:
Section 2 wasn't too bad I didnt think, the appropriation account was something I'd revised before hand thankgod.
How did everyone else get on?0 -
I found it a reasonable paper - much better than the costing paper on Monday.0
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I actually thought it wasn't too bad.
I used the wrong figure for closing stock in section 2 which messed up my net profit so I went back and corrected it (and my appropriation account) and other than that there was nothing too surprising :001_smile:0 -
I didnt get the trial balance in part 1 to balance either so I put in the suspence account aswell. Other than that part 1 went ok.
Part 2 on the other hand was a nightmare, did anyone get £100,000 for net profit in the Profit & loss account? I couldnt do the appropriation stuff at all I ended up just making answers up that im certain are wrong!
Dont think i did enough to pass section 2.0 -
My figure for net profit was £103,000 (if my memory hasn't already gone!)0
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I thought it was really hard wasnt to confident before hand but it was much worse than I thought!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!0
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carla030698 wrote: »IPart 2 on the other hand was a nightmare, did anyone get £100,000 for net profit in the Profit & loss account? I couldnt do the appropriation stuff at all I ended up just making answers up that im certain are wrong!
My P&L account was £100,000 net profit too.0 -
Well at least we are all around the same amount-so even if mine is wrong I can't have gone that far wrong!0
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How much was the closing supposed to be?
Anyone?0 -
closing stock of course0
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My net profit was £120,400 so I must of missed something - then again you only lose a couple of marks as long as you show and understanding of how to interpret it I think?
The Goodwill account question got me abit as I was used to the partners names on there not just a straight T-Account.0 -
My net profit was £120,400 so I must of missed something - then again you only lose a couple of marks as long as you show and understanding of how to interpret it I think?
You made the same mistake that I originally made - £20,400 was the depreciation charge that should go on the P&L account.
Also got £41,000 for stock.0 -
I don't remember my depreciation charge being that amount - that may be why I got a different profit figure :001_smile:
Closing stock was £41,000 - I had to go back and correct that cos miscalculated!!0 -
has anyone got closing stock £41800? can not figure it out where was my mistake?
i also got profit of £100800.0 -
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Closing stock was definately 41,000. The initial figure was £43,500 - £4,200 + £1,700 = £41,000.0
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That was it, I forgot the Depreciation figure :blushing:0
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thanks, now i now my mistake, i didnt touched obscelete stock at all...:-(0
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I wouldn't worry too much warrants - I got a different figure which must mean I calculated a different figure somewhere along the way - as long as you carried on correctly it shouldn't be a big issue.0
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Yeah I think 41000 is correct. I don't why but got it the other way round. first added that 4 thousand something and then deducted 17000
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can somebody explain in other words what "obscelete stock" means? or give me the right spelling, i dont know what it is and can not find in the dictionary.. thanks0
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