Financial Statements 2013 Practise Ass 2 Help!

Alfiedodee

so i have my exam in 3 weeks and feel like I know NOTHING!

even the simplest of qs stump me. can anyone explain Task 2, and how you get the answer for Issue of share capital? I cant find any share info in the qs, answer is:
share capital- 4500
share prem- 2600
total 7100

any other tips to help pass would be appreciated

Kelly7

I just tried to look for you but on my tablet and it wont open. What is the question? X

Kelly7

Ok, I've just looked. You are given the share capital and share premium at the beginning of the year and end of the year so you put in the £18,000 from the beginning of the year from the SFP. You can also tell by the SFP that at the end of the year you had £22,500, so you deduct 18,000 from 22,500 which gives you £4,500. This means you must have issued £4,500 in the year to get your balance at the end of the year to match what is on your SFP - £22,500.

I'm not the best at explaining things but if I haven't made sense come back to me and I'll try explain it in another way.

I have my financial statements exam in about 4 weeks too. I'm not confident at all. How are you finding the other parts of the practise assessments?

x

Alfiedodee

thanks Kelly! I finally sussed it I have my exam a week tomorrow...not confident at all. Retained earnings and NCI always stumps me, and I am worried on how I am going to remember what to write for the written questions. Still havent found out if i have passed budgeting from December arghhh

how do you feel? any tips or link for helping with the written parts?

Kelly7

Hey.
How did you find it? Hope it went well. I have mine on Tuesday. Will be glad to get it out of the way (providing I pass that is lol).
x

Alfiedodee

sorry for the late reply...i failed...did worse than i thought i did tbh!! will be restting at the end of the year! how did you do?