FRA - Yay!!!! It's over!!!

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  • alicemaylara
    alicemaylara Registered Posts: 259 Dedicated contributor 🦉
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    westendlad wrote: »
    was that the markup ? How did you do that ?

    MT TB balanced but although that figure may be wrong, it doesn't effect the balance, so I shouldn't lose much on one calculation.

    I think I've failed on section 2 though.


    i cant remmeber the figures but

    COS = 100%
    SAles = 165%
    MArkup = 65%

    so did the COS divided by 100 X 165
  • lv9783
    lv9783 Registered Posts: 65 Regular contributor ⭐
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    i got 3800 to reconcile accounts
  • mel3321
    mel3321 Registered Posts: 9 New contributor 🐸
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    westendlad wrote: »
    was that the markup ? How did you do that ?

    MT TB balanced but although that figure may be wrong, it doesn't effect the balance, so I shouldn't lose much on one calculation.

    I think I've failed on section 2 though.

    It took me al day to get in my head mark up and margin
    The calculation was 100/165x sales price(cant remember what it was)
  • alicemaylara
    alicemaylara Registered Posts: 259 Dedicated contributor 🦉
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    lv9783 wrote: »
    i got 3800 to reconcile accounts

    Me too :)
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    alicemaylara wrote: »
    Me too :)

    thinking back that was right because the next page mentioned 300
  • Rune
    Rune Registered Posts: 91 Regular contributor ⭐
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    I can't remember wot i did..... All I know is that i had to use a suspense account in section 1 and section 2 all balanced ..... but I dont know if the figures were right......!!!!!???????:001_unsure:
  • square-peg
    square-peg Registered Posts: 143 Dedicated contributor 🦉
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    A-Vic wrote: »
    the sales ledger bit on first part of section two i ot toally lost on that, it looked like a journal question but not to be put as a journal

    oh, right.......that was the control a/c reconciliation right? I thought that was ok - similar format to Dec 06 past paper.
  • lv9783
    lv9783 Registered Posts: 65 Regular contributor ⭐
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    i put the two other things to go in current account share of profit and interest on capital

    difference between current and capital accounts
    capital mainly fixed unless partnership change or capital investment
    current always changing??

    is this right?????
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    Rune wrote: »
    I can't remember wot i did..... All I know is that i had to use a suspense account in section 1 and section 2 all balanced ..... but I dont know if the figures were right......!!!!!???????:001_unsure:

    i was out by 2900 in section one for TB
  • sazzle01
    sazzle01 Registered Posts: 25 Regular contributor ⭐
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    I must have got that one wrong cuase i took the £300 off of the £3500 and for the life of me could not get the £188, £70, £90 i think to reconcile so i have totally messed that one up but also think that slca in my etb would be £3500 - £300 to so that will be out doh!!!!!
  • wastewe
    wastewe Registered Posts: 12 New contributor 🐸
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    Does anyone know when this december's papers and answers get put on the AAT website for perusal?
  • jow774
    jow774 Registered Posts: 465 Dedicated contributor 🦉
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    Couldnt believe how much waffle I wrote for the SLCA memo! Fancy giving me that much space to write, I was on for a novel, lol. I checked later and most of it was utter rubbish, lol.
  • Alex T
    Alex T Registered Posts: 2 New contributor 🐸
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    ditto here I worked it out as stock x 100 divided by 165 = 12000
  • CJC77
    CJC77 Registered Posts: 62 Regular contributor ⭐
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    wastewe wrote: »
    Does anyone know when this december's papers and answers get put on the AAT website for perusal?

    I seem to remember the questions come out before our rresults, but the answers come out quite a bit after.......
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    wastewe wrote: »
    Does anyone know when this december's papers and answers get put on the AAT website for perusal?

    i wouldn't mind a look at the june 09 one first lol :lol::lol::lol:
  • square-peg
    square-peg Registered Posts: 143 Dedicated contributor 🦉
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    lv9783 wrote: »
    i got 3800 to reconcile accounts

    yep, same here.
  • wastewe
    wastewe Registered Posts: 12 New contributor 🐸
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    CJC77 wrote: »
    I seem to remember the questions come out before our rresults, but the answers come out quite a bit after.......
    Oh good, that gives me time to re visit the nightmare before finding out where I went wrong!!! Thank you.
  • CJC77
    CJC77 Registered Posts: 62 Regular contributor ⭐
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    jow774 wrote: »
    Couldnt believe how much waffle I wrote for the SLCA memo! Fancy giving me that much space to write, I was on for a novel, lol. I checked later and most of it was utter rubbish, lol.

    I stand by my waffle 100% - i even threw a bit of bum smooching in there by saying that if I didn't reconcile, I would be mis-representing the accounts by using an incorrect figure and would not be adhering to the 'reliabilty' concept.......God, I was way over the top - he he:laugh:
  • A-Vic
    A-Vic Registered Posts: 6,970 Beyond epic contributor 🧙‍♂️
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    CJC77 wrote: »
    I stand by my waffle 100% - i even threw a bit of bum smooching in there by saying that if I didn't reconcile, I would be mis-representing the accounts by using an incorrect figure and would not be adhering to the 'reliabilty' concept.......God, I was way over the top - he he:laugh:


    hehe so did i and that it was a way to double check the figures

    i used both pages and needed more lol ok maybe i did woffle
  • Esme
    Esme Registered Posts: 711 Epic contributor 🐘
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    How did everyone work out the rent figure? I debited the bank payment, and credited the accrual as the opening balance, then debited the prepayment and then debited the balance c/d as rent for year.

    My TB balanced tho!!?
  • CJC77
    CJC77 Registered Posts: 62 Regular contributor ⭐
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    Esme wrote: »
    How did everyone work out the rent figure? I debited the bank payment, and credited the accrual as the opening balance, then debited the prepayment and then debited the balance c/d as rent for year.

    My TB balanced tho!!?

    prepayments are a debit in the prepayment account, therefore a credit in the rent account - you still would have balanced as you did a Bal c/d figure of the difference
  • Esme
    Esme Registered Posts: 711 Epic contributor 🐘
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    should the accrual have been a dr or cr though? Was I right to put is as a cr?
  • acc1077
    acc1077 Registered Posts: 138 Dedicated contributor 🦉
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    accruals are a credit arn't they
  • Esme
    Esme Registered Posts: 711 Epic contributor 🐘
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    and reading what i just put, i wrote it wrong! I did cr the prepayment, the accrual and the balance c/d.. was that right?
  • CJC77
    CJC77 Registered Posts: 62 Regular contributor ⭐
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    Esme wrote: »
    should the accrual have been a dr or cr though? Was I right to put is as a cr?

    Yeah, the accrual was a credit - i initially had it as a debit but my TB was out by that amount, so did a quick 'T' account and realised the error of my ways!
  • acc1077
    acc1077 Registered Posts: 138 Dedicated contributor 🦉
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    yes i think you are i'm sure thats what i put
  • *Jo
    *Jo Registered Posts: 509 Epic contributor 🐘
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    I put both the accrual and the prepayment as a debit as my trial balance didn't balance without doing this, so hopefully got it right???
  • westendlad
    westendlad Registered Posts: 30 Regular contributor ⭐
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    Esme wrote: »
    How did everyone work out the rent figure? I debited the bank payment, and credited the accrual as the opening balance, then debited the prepayment and then debited the balance c/d as rent for year.

    My TB balanced tho!!?

    that sounds like what I did. Can't remember the figure, was it something like 9800 less the prepayment of 2000 and something like 780 or 560 accrual ? My TB balanced even though I got the closing balance calculation wrong.

    It section 2 that I think I've probably failed on as I couldn't get my TB to balance and so my P and L couldn't get a total either.
  • CJC77
    CJC77 Registered Posts: 62 Regular contributor ⭐
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    I really shouldn't come on these forum things - what starts out as me feeling confident that i will pass, slowly gets squashed like a little itty bitty bug against the windscreen of a sportscar driving very fast.

    I am dramatic, I know..........
  • acc1077
    acc1077 Registered Posts: 138 Dedicated contributor 🦉
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    get a glass of wine down you cjc (cant remember rest of your name) lol

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