Unit 5 progress test 1 Help!!!
Soph06
Registered Posts: 14 New contributor ๐ธ
Hi
Could someone tell me the total figures for the trial balance for Kaplan progress test 1 John Risdon?
I can't for the life of me get the figures to balance and can't work out where i went wrong.
Please can someone put me out of my misery.
thanks in advance.
Could someone tell me the total figures for the trial balance for Kaplan progress test 1 John Risdon?
I can't for the life of me get the figures to balance and can't work out where i went wrong.
Please can someone put me out of my misery.
thanks in advance.
0
Comments

Hi
I would like to help, but we are using the Osbourne Books for Intermediate Course, would it possible for you to upload the your exercise so that I can possible have a look at the same0 
Hi
thanks for offering to help. This morning I managed to get the figures to balance somehow and posted my paper before looking at this post. Hopefully any feedback I will get from Kaplan would help me realise what mistakes I made.
It's good to know people are here to help.0 
Hi Soph06,
I wonder if you could let me know the total figures. Mine seem to be out and I'm not sure what I'm doing wrong.
Thanks!0 
Unit 5, progress test 1
Hi, I am also struggling with this unit, I have read and re read but things do not seem to be sinking in!!!
I have managed to get onto the progress test but fell at the first hurdle which was to work out the capital. Now I have seen the equation in the Kaplan book but now cannot find it for love nor money..
Please can anybody help??
Cheers Susie0 
Hi Susie
I worked out the first question as capital= assetsliabilities.
I still can't get the trial balance right (it's out by nearly ยฃ4000!) but I have just given up and sent the progress test back because I can't see what I've done wrong. I thought I was understanding it ok until I did this test!0 
im struggling with task 1.41.6 dont understand how you can work out straight line depreciation as they haven't given you the useful economic life? HELP!!0

sarahkillip wrote: ยปim struggling with task 1.41.6 dont understand how you can work out straight line depreciation as they haven't given you the useful economic life? HELP!!
If it is a straight line it means it's calculated via the percentage of the depreciation.
Say if the depreciation is 10% per year, the depreciation will be 10% of the original cost of the asset.
I hope this helps,
Cheers,
Rinske0 
thanks, Rinske, that makes sense, just stared at the question so long I couldn't see the obvious!0

hey all,
I got mine to balance at 65,615 after some long hard checking.
**I don't know if this is correct!**
but here are the mistakes i found i had made (or almost made) going through the test maybe they will help:
*did you include the bank balance as an asset in q1?
*did you use the correct stock balance in the trial balance? (read ch12 ETB)
*when you did the disposal account in 1.4, did you remember to take that provision out when doing task 1.6?
*did you (re)calculate the capital correctly before writing out the trial balance?0 
ยฃ65615 is the correct answer. My figure for capital was wrong as I forgot to add the cash received from sale of van.
Now I'm stuck on progress test2!0
Categories
 All Categories
 1.2K Books to buy and sell
 2.3K General discussion
 12.5K For AAT students
 323 NEW! Qualifications 2022
 165 General Qualifications 2022 discussion
 11 AAT Level 2 Certificate in Accounting
 56 AAT Level 3 Diploma in Accounting
 88 AAT Level 4 Diploma in Professional Accounting
 8.8K For accounting professionals
 23 coronavirus (Covid19)
 272 VAT
 92 Software
 273 Tax
 135 Bookkeeping
 7.2K General accounting discussion
 200 AAT member discussion
 3.8K For everyone
 38 AAT news and announcements
 345 Feedback for AAT
 2.8K Chat and offtopic discussion
 582 Job postings
 16 Who can benefit from AAT?
 36 Where can AAT take me?
 42 Getting started with AAT
 26 Finding an AAT training provider
 48 Distance learning and other ways to study AAT
 25 Apprenticeships
 66 AAT membership