AAT Level 2  Bookkeeping Transactions Practice Assessment 2
StudentLvl2
Registered Posts: 14
I am studying towards Lvl 2 of AAT. I am on the first unit and doing well so far in terms passing etc. Been getting 8595%+ on all my studying providers tests etc and also passed the first practice assesment for Bookkeeping Transactions on the official AAT website.
I was just starting to do the scond one when I was stuck on the first question!! Just very basic adding up an invoice!
The question said there was 2,000 units (at £31.35 for 30)
You then had to calculate the VAT and total.
This didn't come up as a whole number so I rounded it (the net) up to 2090 as per the general 'rules'
but then I got to section (c) of the question where it asked how much the customer would pay if they used the prompt payment discount of 2% which calculated as £2457.84
I was tempted to round up again as it had no mention of putting it to 2 decimal points but then I have never really experienced this in all my studies so I decided to look up the answers..
In the answers they rounded up the invoice, in the first bit.
But in c) they DIDN'T round up the full payment after discount.. But the question didn't say ANYTHING about using up to 2 decimals points so I'm really really really confused.
Can someone please explain to me where I'm going wrong? As this has kind of knocked my confidence a lot since it's such a simple question.
I was just starting to do the scond one when I was stuck on the first question!! Just very basic adding up an invoice!
The question said there was 2,000 units (at £31.35 for 30)
You then had to calculate the VAT and total.
This didn't come up as a whole number so I rounded it (the net) up to 2090 as per the general 'rules'
but then I got to section (c) of the question where it asked how much the customer would pay if they used the prompt payment discount of 2% which calculated as £2457.84
I was tempted to round up again as it had no mention of putting it to 2 decimal points but then I have never really experienced this in all my studies so I decided to look up the answers..
In the answers they rounded up the invoice, in the first bit.
But in c) they DIDN'T round up the full payment after discount.. But the question didn't say ANYTHING about using up to 2 decimals points so I'm really really really confused.
Can someone please explain to me where I'm going wrong? As this has kind of knocked my confidence a lot since it's such a simple question.
0
Comments

NEVERMIND! Just realised where I went wrong.. Wow was having a dumb moment indeed!!0
Categories
 All Categories
 1.2K Books to buy and sell
 2.3K General discussion
 18.9K For AAT students
 234 NEW! Qualifications 2022
 133 General Qualifications 2022 discussion
 7 AAT Level 2 Certificate in Accounting
 31 AAT Level 3 Diploma in Accounting
 55 AAT Level 4 Diploma in Professional Accounting
 8.9K For accounting professionals
 23 coronavirus (Covid19)
 272 VAT
 91 Software
 272 Tax
 135 Bookkeeping
 7.3K General accounting discussion
 201 AAT member discussion (AATQB, MAAT, FMAAT and AAT Licensed Accountants and Bookkeepers)
 3.8K For everyone
 39 AAT news and announcements
 352 Feedback for AAT
 2.8K Chat and offtopic discussion
 586 Job postings
 17 Who can benefit from AAT?
 36 Where can AAT take me?
 44 Getting started with AAT
 26 Finding an AAT training provider
 47 Distance learning and other ways to study AAT
 25 Apprenticeships
 65 AAT membership