Cash Management =
ykwong1978
Registered Posts: 48 Regular contributor ⭐
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
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
0
Comments
-
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 = 12,0000 -
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.
Ying0
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