FRA 1 Dec 4004

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:29AM in AAT student discussion
does anyone of the students who did the exam today remember what is the capital in trail balance in section one? and from where does it came?

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA 1 Dec 4004

    Cant remember actual figure for opening capital in section 1.<BR>But to work out capital you needed to add all the assets and then subtract all the liabilities<BR>Any help?<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA 1 Dec 4004

    The capital figure in the exam today was worked out by taking your assets from the liabilities in the table at the bottom. However, I forgot to add in the bank balances brought down from the previous year in the bank/cash account therefore my Trial Balance was out by £2870. I realise that now but at the time could not find the mistake. I had to put a suspense account in to make it balance.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA 1 Dec 4004

    I think the capital should have been something like £17,610, something along those lines anyway
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA 1 Dec 4004

    Yes I would agree with Saxanne however I forgot to put in the bank balances brought down of 2,870
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA 1 Dec 4004

    I looked at the first question and could not do it I went back to it and had a go. I added my assets and took away my liabilities. Which may be right what a guess!!! I did not take into account the bank. Does anyone know if you get some credit for most of the question right.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA 1 Dec 4004

    I did the same and forgot the bank of 2,870 I don't know how the marking system works however I have e-mailed the AAT and will let you know if I find anything out.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA 1 Dec 4004

    I worked out the Capital Brought down as<BR><BR>£ 19,700<BR><BR>everything balanced
  • System
    System Posts: 100,534 🤖 Admin 🤖
    FRA 1 Dec 4004

    i cant remember the exact capital figure i reached but I drafted up a balance sheet which included everything, that way I knew i didnt miss anything out

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