ECR 04 Exam - Wages Question

System
System Posts: 100,534 πŸ€– Admin πŸ€–
edited June 18 in AAT student discussion
Can anyone tell me what they put in the journals for the question that involved the WIP, Tax, NI and the Wages Accounts??

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  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    ECR 04 Exam - Wages Question

    I put Dr WIP and Cr everything else <BR><BR>Hope this was right<BR><BR>Kelly
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    ECR 04 Exam - Wages Question

    Hi <BR><BR>For the wages journal i put-<BR><BR>DR-WIP with the gross wages amount<BR>CR-everything else
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    ECR 04 Exam - Wages Question

    yeh i put DR in WIP for the total labour costs (30 odd thousand i think) and then CR in everthing else for the relevant values (eg NI was employers plus employees)
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    ECR 04 Exam - Wages Question

    Hi I did the same........I hope its right
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    ECR 04 Exam - Wages Question

    i did the same originally then when finished and reading through started thinking about it too much and went and changed it to the other way round!! i made quite a lot of stupid mistakes, i knew it all well enough i think but let exam pressure get to me and started doubting myself too much.
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    ECR 04 Exam - Wages Question

    Hiya, <BR><BR>For the labour question I put the: <BR> <BR><BR>Γƒβ€šΓ‚Β£3000 as a CR in the ledger code for Ò??Work - In - Progress <BR>Employee NI and Employers NI Ò?? I added these together and put it in the ledger code for Ò??NI PayableÒ?? as a DR. <BR>Net wages went is a DR in the ledger code for Ò??Net Wages Payable<BR>And the other one, which I cannot remember what it was, went in the ledger code remaining as a DR also. <BR><BR>I debited the NI, net wages and the other because they are expenses and expenses are always DEBITED, but I think this may be wrong.<BR><BR>Any tutors on this forum, please help! <BR><BR><BR>Thanks <BR> <BR><BR>
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    ECR 04 Exam - Wages Question

    Hi Everyone<BR><BR>I sat the intermediate level exams in June this year, and had a similar question on the ECR paper. I see the AAT have put the same old silly question again regarding journals (which is not covered really in the tutorials).<BR><BR>I passed both my exams in June this year, despite cocking up on the journals, and other things. <BR><BR>Hope that helps your current mental health state! Happy christmas.
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    ECR 04 Exam - Wages Question

    hello everyone <BR><BR>just to settle everyones minds a bit i have spoken to my tutor about the Journal question and here is her reply .......<BR><BR>"Had a quick look - the journals required needed you to DR WIP with the<BR>full direct labour cost, and then to CR the three other accounts with<BR>the relevant values."<BR><BR>Hope this helps you all <BR><BR>Mike <BR><BR><BR>

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