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twinmeister
twinmeister Registered Posts: 122 Dedicated contributor 🦉
in AAT Level 4 (Level 8 in Scotland)
Did anyone else have to round the insurance amount of £512/12*3? think it was a prepayment in the journal?
I struggled with consolidated bs - do you add in the revaluation reserve of 6000 in with the combined non-current assets? Think I got my goodwill to be 1119 or something like that? what did everyone else get for net assets? I got £69xx7?

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  • jilt
    jilt Registered Posts: 2,903 Beyond epic contributor 🧙‍♂️
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    twinmeister wrote: »
    Did anyone else have to round the insurance amount of £512/12*3? think it was a prepayment in the journal?

    I know what you saying about the insurance prepayment, but if you just divide by 4 you get £128, by doing /12x3 its rounds it down
  • mickeymacca
    mickeymacca Registered Posts: 31 Regular contributor ⭐
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    Yeh twinmeister it was a prepayment of 128, and yeh for the consolidated BS you add the reval fig to both of the NCA figures to give you the consolidated total......
  • mickeymacca
    mickeymacca Registered Posts: 31 Regular contributor ⭐
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    and yeh goodwill was 1119 after the 373 dep had been accounted for, and I got 69487 or 69847 can't remember exactly which so either we are both right or both wrong!!
  • lisnic
    lisnic Registered Posts: 141 Dedicated contributor 🦉
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    i got prepayment of 128 also

    i did do 512/12 to start and got a number that needed rounding so to work prepayment out i did 512*3/12 and got 128

    yes with revaluation you add the 6000 into the ppe and a revaluation reserve

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