I need a second opinion.

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akilahdale
akilahdale Registered Posts: 28
in AAT Level 3 (Level 6 in Scotland)
I'm currently doing FSTP and I think the answer they've given for this Progress Question is wrong. I got 45,000Dr closing balance and the break-down they've given gives that answer as well, as far as I can tell. Am I missing something?

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  • akilahdale
    akilahdale Registered Posts: 28
    edited February 2016
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    Forgot to attach the question! https://drive.google.com/open?id=0B0k6yRvOHIODajN6aDM0T1hDLWs
  • rakeshsuwal
    rakeshsuwal Registered Posts: 79
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    30k+25k-10k = 45k. This is showed in the c/d balance in debit side which is why b/f will be in credit side. You always use credit/debit balance on Balance B/Forward or B/Down and not carried down.
  • rakeshsuwal
    rakeshsuwal Registered Posts: 79
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    In this case you should have inserted a balancing figure 45k in debit side, which becomes a Balance c/d in Debit side. After the total you bring it to credit side and insert as Balance b/d 45k which is why it becomes credit value. To say if it's a debit balance or credit balance you always use the Balance b/d and not Balance c/d. If you know what I mean?
  • akilahdale
    akilahdale Registered Posts: 28
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    Oh right! Yh, that makes sense thanks.
  • rakeshsuwal
    rakeshsuwal Registered Posts: 79
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    :)

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