depriciation journal calculation

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
I did ok on section 1 seemed to have similar answers to others. trial balance actually balanced!<BR><BR>In section two I was doing ok until the journal on depriciation( think I did too much it was about 6380!) so my net profit was only £99167.<BR><BR>think the diff from net profit of £101250 ( which everyone else seems to have ) was caused by the dep.<BR><BR>can anyone remember the calculaion.PLeaseeeeeeeeeeeeeeeeeeeeee<BR><BR>Also made a mistake on the appropriation account included full salary for dan and full interest on capital.<BR><BR>Really don't think I'm going to pass now. does anyone now if these mistakes are enough to fail me or do you think I could scrape by!!!!!!!!!!!<BR><BR><BR>can't wait till August- need to be put out of my misery now!<BR><BR><BR>

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    depriciation journal calculation

    Was depreciation for that one 4280? I think that's what I got, either that or 850, but one of those was section 1
  • System
    System Posts: 100,534 🤖 Admin 🤖
    depriciation journal calculation

    <BR><BR>i got 4280 in section 2, but 850 in section 1<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    depriciation journal calculation

    yeh that is what I got aswell<BR><BR>section 1 depreciation £4280 and <BR><BR>section 2 depreciation £850
  • System
    System Posts: 100,534 🤖 Admin 🤖
    depriciation journal calculation

    Me too
  • System
    System Posts: 100,534 🤖 Admin 🤖
    depriciation journal calculation

    Me to - It took me so long to balane the suspense but got there in the end thank god as I really stuffed up on the memo and app account
  • System
    System Posts: 100,534 🤖 Admin 🤖
    depriciation journal calculation

    damn damn damn!!!!<BR>my depreciation is 4485!! and that explains why i got 101045 as net profit (£205 difference)...!! i did so well at depreciation when i did past papers....... :-( ...heart-breaking to see i got the thing wrong which i am so confident about!!<BR>so i got wrong figures in the appropriation a/c and i took £500 as int on capital for dan! otherwise i think i did okay in section 2...i got my 70390 in T.B in section 1!!<BR>somebody pleasssseee tell me this is not enough to fail me!!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    depriciation journal calculation

    darn it! i had 4280 as my deprecistion to start with then had a mad panic thought I'd calcualted wrong and changed it! <BR>At least I know why my profit is out now!<BR><BR>oh well fingers crossed the examiners will be nice and see my original answer and not totally flunk me!<BR><BR>My tutor says if you get something wrong which affects the next question they only mark you down once for the error<BR><BR>hope this is correct!!!!!!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    depriciation journal calculation

    i did exaclty the same as you with the capital accounts app. took dan's salary as 30000 and the interest as full year. <BR><BR>Although they did say that they couldn't pay him back all the money that he was owed and it was going to be a loan, so technically he capiltal was in the accounts right till the end of the year. so maybe it is right?

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