FRA June 06 - Goodwill

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Gemmar
Gemmar Registered Posts: 4 New contributor 🐸
in AAT Level 3 (Level 6 in Scotland)
I am completing practice papers for tomorrow. Just completing this one and I just cannot understand how you know Pat paid 80,000 from her bank into the business. It seems key to answering this question correctly!:confused1:

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  • Ed1
    Ed1 Registered Posts: 51 Regular contributor ⭐
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    It states it on page 14, under Data (b).
  • Rachey
    Rachey Registered Posts: 589 Epic contributor 🐘
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    Gemmar wrote: »
    I am completing practice papers for tomorrow. Just completing this one and I just cannot understand how you know Pat paid 80,000 from her bank into the business. It seems key to answering this question correctly!:confused1:
    It tells you in the 'DATA' section. It says '(b) Pat introduced capital of £80,000 during the year. This was debited to the bank account but no other entries were made'

    So you need to do a journal for it. Hope this helps!

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