FRA figures?? Its 8oclock now!
*hayley-may08*
Registered Posts: 43 Regular contributor ⭐
Hi All,
Just wondered how everyone did!
I got net assets to be 9100 I think.
Think net profit was £18250 ???
X
Just wondered how everyone did!
I got net assets to be 9100 I think.
Think net profit was £18250 ???
X
0
Comments
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Yayy..! Just tring to remember the other questions, hmm...!
x0 -
figures
:thumbup:Me to
Andrea0 -
I got net assets as £9100 but then messed up the second part of b/s forget to add profit from p&l! :ohmy:0
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yep
the 9100 definately and the 18250 must be right
because capital 4050
plus profit 18250
less drawings 132000 -
Hmm cant remember! Thats probably right, I just put it into exp's! ooops!!!
x0 -
Me too hooray
did you get gross profit 23165 - I included the delivery costs to customers in the 'cost of sales' section - wasn't sure if that was right?0 -
Yay... just worrying bout my 4errors on ECR now!!
Well done everyone, relaxxx...
x0 -
me too hurray!!!
i couldnt believe it when it balanced!!!:001_smile:0 -
Trial Balance: 176940
Profit: 18250
Balance Sheet: 9100
Fingers crossed!
It was a simliar paper to one in 2005, Decembers I think, which I had done this morning0 -
I got that tb figure cathg
x0 -
Section 1 - Trial Balance figure
Did anyone else get 176940?0 -
My b/s didn't balance... was £50 out!! Couldn't work out where i went wrong!! :mad2:0
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TB
:thumbup1: Yes I got that to0 -
rite a few questions!
the cash book at start did u have to include capital or leave it out?
the trial balance is section 1, wat were the 2 bottom figures?
i didnt get 9100 either i got 8450 or something but managed to balance my b/s so should i still be ok?0 -
hey guys all my figures balance 9100 net assets what did you get for trial balance was it 178,000 something or other i was the first once finished after one hour and ended up phoning the college when i was going home coz i was convinved i must have missed a page or two it was checked and i had answered everything this was by far the easiest fra paper from the last 10 do you think come on guys we re the bit closer to become AAT qualified bring it on :001_tt2:0
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for some reason i'm getting visions that I had 18,125 for net profit but thats probs just me doubting myself lol :001_tt2:0
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i did that as well it should have been in expenses..I also added the discount received to the cost of sales to make the gross profit which was wrong0
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hey guys what did you do the second half of the paper with the 1000 that had been paid from the bank? did you guys take it out of the equipment or vehilce (cant remember now) account and put i back in again coz it was already does that make sense:ohmy:0
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I think I credited the bank and debited the cost account (equipment I think)...0
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I couldnt remember where to put the delivery costs to customers so put them in with the other expenses . had net profit of 18250, and 9100 net assets so looks like i got that right. Everything balanced in the first section as well although it took me over an hour to complete...........got into a fix over opening and closing balances whether they should be dr or cr. had to sit down and go through all the different a/cs plca, purchases, slca, sales and bank eventually sorted it out!!
regards
Tim0 -
My bank figure was 5555, I used this as the Accum Depn didnt clear out.
So I added the whole 1300 to the fixed asset account and took 1000 out of bank.
The accum depn account not clearing meant that there was more than 1 asset so that must have been the 1000 in the equip at cost sectiom, if that makes sense0 -
Where does interest received and consumables go?0
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hey guys what did you do the second half of the paper with the 1000 that had been paid from the bank? did you guys take it out of the equipment or vehilce (cant remember now) account and put i back in again coz it was already does that make sense:ohmy:
All I remember from the disposal question is that I ended up with a £125 loss on disposal I think. Hope that was right :001_unsure:0 -
i had to put a suspense in the first trial balance lol this isnt good0
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Loss on disposal
I also got 1 loss of 125.00,0 -
Was it really that simple?
I have never got my trial balance to balance, yet it did today! They were so kind actually giving us the accounts too, they haven't done that in any of the past papers I've seen. No journals, no mark-up .
I had a bit of a fight with P & L but once I beat it into submission it agreed to balance to £18,250 and BS £9,100.
All looking good, feeling good. Bring it on Technician level :001_tt2:0
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