Any Idea???

cool cool
cool cool Registered Posts: 3 New contributor 🐸
in AAT Level 3 (Level 6 in Scotland)
Can anyone help me to find out if i m fail or pass,
I added consumables with debtors in BS.n was fixed asset £2300 or 1300?:001_smile: though BS n P&L was ok.

Comments

  • numberjunky
    numberjunky Registered Posts: 88 Regular contributor ⭐
    I have always thought that Consumables were expenses so should have been in P&L.

    Your Asset figure if I remember should have been 2100 (2500? -1700 + 1300)

    I really can't remember what original asset value was but it certainly should have been followed by subtracting the disposal (1700) and adding the aquisition (1300). I'm sure I got it right but can't remember the precise figures

    Hope this helps
  • George Tse
    George Tse Registered Posts: 241 Dedicated contributor 🦉
    consumables are expenses thats where i put it in section 2 rite ?

    Profit was 18,250
    Networth/net assests 9,100
  • Primble
    Primble Registered Posts: 734 Epic contributor 🐘
    consumables are things that get brought that isn't worth costing to a job. Something like mastic for a builder as it may be used for many jobs in small amounts. It is an expense. My net profit was 18010 so 240 out. Something to do with the interest

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