accounts prep 2

clarlou76
clarlou76 Registered Posts: 11 Regular contributor ⭐ ? ⭐
i keep failing on this exam. am a bit confused when it comes to doing the balance sheet as they have put a sundry income on it and i am not sure what i am supposed to put in for this. can anyone help??

Comments

  • Bluewednesday
    Bluewednesday Registered Posts: 1,624
    Not quite sure what you mean, sundry income would go in the profit and loss account (or income statement) not the balance sheet
  • clarlou76
    clarlou76 Registered Posts: 11 Regular contributor ⭐ ? ⭐
    what classes as sundry income though??
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624
    One of the things we put in sundry income was the online filing refund that businesses got until recently, it wasn't as a result of trade so went in as sundry income
  • Sammmy88
    Sammmy88 Registered Posts: 283
    I have the exact same problem. I have failed twice already and going to book it for the third time soon! I have he sundry income question too and it threw me! I'd like to know what they mean by this too!
    Level 2 - Passed 2011
    Level 3 - Passed 2012
    Level 4 - Passed 2014

    Awaiting to start CIMA :)
  • ajm
    ajm Registered Posts: 17 Dedicated contributor ? ? ?
    Do you mean an income statement like Task 2.1 on the second practice exam? In this question the sundry income is discounts received.
  • Sammmy88
    Sammmy88 Registered Posts: 283
    No, the question was to put the details into an income statement but just like discounts received etc, there was one saying sundry income, that you have to slot into the income statement. If that makes sense. Lol
    Level 2 - Passed 2011
    Level 3 - Passed 2012
    Level 4 - Passed 2014

    Awaiting to start CIMA :)
  • ajm
    ajm Registered Posts: 17 Dedicated contributor ? ? ?
    Oh, I'm not sure then, hope it doesn't come up in my exam!
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