FRA - Yay!!!! It's over!!!
Comments
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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 1650 -
i got 3800 to reconcile accounts0
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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)0 -
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alicemaylara wrote: »Me too
thinking back that was right because the next page mentioned 3000 -
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:0
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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?????0 -
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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!!!!!0
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Does anyone know when this december's papers and answers get put on the AAT website for perusal?0
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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.0
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ditto here I worked it out as stock x 100 divided by 165 = 120000
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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.
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:0 -
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 woffle0 -
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!!?0 -
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 difference0 -
should the accrual have been a dr or cr though? Was I right to put is as a cr?0
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accruals are a credit arn't they0
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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?0
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yes i think you are i'm sure thats what i put0
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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???0
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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!!?
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.0 -
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..........0 -
get a glass of wine down you cjc (cant remember rest of your name) lol0
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