Advanced Dipolma Synoptic assessment Level 3

Exam question help.
Please can someone help with the below question and how i get the prepayment amount?

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  • Aliyah97
    Aliyah97 Registered Posts: 12
    Advanced Dipolma Synoptic assessment Level 3
    Exam question help.
    Please can someone help with the below question and how i work this out



  • Aliyah97
    Aliyah97 Registered Posts: 12
    Exam question help.
    Please can someone help with the below question as i cant get my head around this and the workings

  • Aliyah97
    Aliyah97 Registered Posts: 12
    Exam question help.
    Please can someone help with the below question

  • MomenaMalik
    MomenaMalik Registered Posts: 10
    Prepaid Expense

    36 months = 3 years

    £1800 / 3 years = £600 a year

    £600 x 2 years = £1,200 adjustment

    Here is a video that might help. You can also email Sajid anytime, he is a great help!
    Aliyah97
  • Aliyah97
    Aliyah97 Registered Posts: 12
    Thats great thank you.

    Would you be able to help with a couple others?
  • MomenaMalik
    MomenaMalik Registered Posts: 10
    Year 1 - 64,000 + 50,090 = 114,090 * 0.893 = 101,882 (rounded)
    Year 2 - 63,400 + 48,350 = 111,750 * 0.797 = 89,065 (rounded)
    Year 3 - 65,800 + 36,560 + 30,000(scrap value) = 132,360 * 0.712 = 94,240 (rounded)

    Net Present Value is then = -165,000 + 101,882 + 89,065 + 94,240 = 120,187
  • MomenaMalik
    MomenaMalik Registered Posts: 10
    Accrued Expense = Liability

    Double entry is - DR Rent Account
    CR Accrued Expense Account

    Relating to quater ending Jan X8
    £42,000 / 3 = £14,000 each month
    Nov X7 - £14,000
    Dec X7 - £14,000
    Jan X8 - £14,000

    We want to know how much it is for this/current year, which is anything before 31st Dec X7.

    So Nov + Dec we need to account for as these are the only two before the year end.

    Nov X7 - £14,000
    Dec X7 - £14,000
    = £28,000

    Narravtive can be anything, for example:
    Accounting for the adjustment, accrued rent expense, for the year end 31 Dec X7.

    Profit/Loss for the year - It was a loss previously calculated so the calculations are:

    -185,588 - 28,000 = -213,588


  • MomenaMalik
    MomenaMalik Registered Posts: 10
    Depreciation Exps (Charge) = £920,000 - £300,000 = £620,000 * 20% = £124,000

    Accumulated Depreciation = £124,000 (Depreciation exps) + £300,000 (Accumulated Dep figure given in table) = £424,000

    Carrying Value = £920,000 - £424,000 = £496,000

    Deprecation Exps is always carrys a debit balance.

    Actual Contribution = Sales - Direct Labour - Direct Materials
    £3,200,000 - £180,000 - £2,340,000 = £680,000

    Actual Fixed Costs = Overheads + Deprication
    £288,000 + £124,000 = £412,000
    katiebeth98_
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