Cash Management =

ykwong1978ykwong1978 Feels At HomeRegistered Posts: 48
Hi,

I have tried the green light for Cash Management, and for some reason I am getting this wrong, and I have no idea why?

QUESTION
C Ltd has prepared its statement of financial position at 31 December 20X1, and the carrying amount of its fixtures and fittings included under non-current assets was £51,600. At the start of the year the carrying amount was £50,250, and during the year the fixtures and fittings were depreciated by £8,200. There was a disposal of some old fixtures and fittings during the year which had a carrying amount at disposal of £2,450. From the data given, calculate the amount paid to purchase the new office equipment during the year.

I thought the answer would be £51600 - 50250 = £1350, and this was wrong

I tried it again, and decided to include the depreciation so £51600 - £50250 + £8200 = £9550 - and this was wrong.

If anyone can explain how to work this out, I would be very grateful.

Thanks

Ying

Comments

  • sdvsdv Experienced Mentor Registered Posts: 585
    Opening balance.............................50 250
    Less disposal...................................2 450
    Bal before purchase........................47 800
    Add purchases...............................12 000 work out missing figure backwards
    Bal before depreciation....................59 800
    Less depreciation.............................8 200
    Closing balance..............................51 600

    51,600 + 8,200 + 2,450 – 50,250 = 12,000
  • ykwong1978ykwong1978 Feels At Home Registered Posts: 48
    I have passed Cash Management today and seem to be borderline competent as I was given a feedback report (is this new)

    My feedback was

    Section 1
    Exceeded 3 parts
    Met 1 part
    Did Not Meet 2 parts

    Section 2
    Exceeded 5 parts
    Did not meet 1 part.

    So, my result was Competent.

    My question is, is this feedback report new? Or is this only given to me as I did poorly in some section?
    I passed PEAF and SPSW this year and was just given the Result but with no feedback.

    I must admit that I did find this reasonably okay, but there are a few section that I seem to mix up badly, and cannot understand the question asked.

    I don't really know what to do next, as I have now completed level 3 and I was planning to jump straight into Level 4, but with my poor result in a few section, should I try and understand where I am going wrong in those sections, or just move on.

    Ying
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