Financial Statements 2013 Practise Ass 2 Help!

AlfiedodeeAlfiedodee New MemberRegistered Posts: 16
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

Comments

  • Kelly7Kelly7 Well-Known Registered Posts: 218
    I just tried to look for you but on my tablet and it wont open. What is the question? X
  • Kelly7Kelly7 Well-Known Registered Posts: 218
    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
  • AlfiedodeeAlfiedodee New Member Registered Posts: 16
    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?
  • Kelly7Kelly7 Well-Known Registered Posts: 218
    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
  • AlfiedodeeAlfiedodee New Member Registered Posts: 16
    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?
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