Premier training

Rune
Rune Registered Posts: 91 Regular contributor ⭐
in AAT Level 4 (Level 8 in Scotland)
Anyone out there starting DFS! My mind has gone blank! Any one doing the first assignment?

Comments

  • gillwilson
    gillwilson Registered Posts: 41 Regular contributor ⭐
    Hi Rune
    Yes I have just finished 1st DFS assignments for premier training - anything I can help with?

    Gill
  • Rune
    Rune Registered Posts: 91 Regular contributor ⭐
    hi yes i am getting loads of different answers for the income state ment the last profit i got for the year was £960000 am i heading in the right direction?
  • Marg22
    Marg22 Registered Posts: 84 Regular contributor ⭐
    Pemier Training

    As you are with premier it should be Muggeridge Ltd that you are doing.

    The best way I would advise you to approach it:-

    1. Go through the trial balance and Code each value with either a B or an I depending on whether it should go in the income statement or balance sheet.
    B = Balance sheet
    I = Income statement

    2. Go through and do the journals write a B or an I to indicate where it
    needs to be adjusted.

    3. Now have a go at the income statement.

    4. Net profit for the year should be 195K

    Hope this helps you.

    Kind regards

    Marg

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