December Exam- anyone got problems with it?

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:23AM in AAT student discussion
Did everyone got their trial balance correct? i was £2 off on the debit side. I checked my workings four times and couldn't find where gone wrong..... on the second section, does anyone have a standard answer to"what is a overdraft facility"? and then on the draw up the sales ledger control account question i got £500 difference, and i don't know what caused the difference and on the last question, reconciliation, after the "add" and "less" i couldnt get the figure right, there was £199 pounds off. Does anyone has the same problem as I did?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:December Exam- anyone got problems with it?

    Hiya i did the exam this week aswell. With the sales ledger control account. which side did you put the discounts allowed on?and did you notice that one of the debtors had Credit next to it rather than debit. Also for the bank reconcilation, the balance brought forward didn't match with the £199 so you didn't need to put the £199 into the cashbook.
    Sorry can't help with the overdraft becuase i don't think i got that right myself. Hope i have helped
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:December Exam- anyone got problems with it?

    hiya,
    I cant help with the trial balance as mine balanced, it may have just been a calculation error.
    The £500 difference on the sales ledger control was caused by the £250 credit in the subsidiary sales account.
    For the overdraft question I just said that it was an agreed amount with the bank that you could overspend, I dont think there was anything else that could be said about it.
    The bank reconcilliation had a cheque that would have been from the previous month that hadto be ignored thats probably why you were out by £199.
    Hope this helps you
    Bye for now
    Wends
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:December Exam- anyone got problems with it?

    hiya,
    I cant help with the trial balance as mine balanced, it may have just been a calculation error.
    The £500 difference on the sales ledger control was caused by the £250 credit in the subsidiary sales account.
    For the overdraft question I just said that it was an agreed amount with the bank that you could overspend, I dont think there was anything else that could be said about it.
    The bank reconcilliation had a cheque that would have been from the previous month that hadto be ignored thats probably why you were out by £199.
    Hope this helps you
    Bye for now
    Wends
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:December Exam- anyone got problems with it?

    discount allowed is a credit in the sales ledger control as it is a debit in the discount allowed account.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:December Exam- anyone got problems with it?

    i also couldnt get mine to balance but mine was a large difference i couldnt find where i had gone wrong at all so i think mine is a definate fail but i will get another chance in June if it is

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:December Exam- anyone got problems with it?

    hiya Could it have been the Vat and stationery in the cashbook?or did you do that ok? you will have still got marks for your section 1 even if it didn't balance.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:December Exam- anyone got problems with it?
    Katie86 wrote:
    Hiya i did the exam this week aswell. With the sales ledger control account. which side did you put the discounts allowed on?and did you notice that one of the debtors had Credit next to it rather than debit. Also for the bank reconcilation, the balance brought forward didn't match with the £199 so you didn't need to put the £199 into the cashbook.
    Sorry can't help with the overdraft becuase i don't think i got that right myself. Hope i have helped

    Halo, thanks for you help!!! you know wot, i don't remember whehther i put the discount allowed or not, but as far as i can recall, it's an expense so i must have put it on the debit side. But i guess it just an calculation error.... and damn, i didnt put the £199 on the cashbook at all, cuz i never came across with question like that before, didnt know wot to do when a customer is on credit..... so i needed to put it on the cash book then??
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:December Exam- anyone got problems with it?
    wends wrote:
    hiya,
    I cant help with the trial balance as mine balanced, it may have just been a calculation error.
    The £500 difference on the sales ledger control was caused by the £250 credit in the subsidiary sales account.
    For the overdraft question I just said that it was an agreed amount with the bank that you could overspend, I dont think there was anything else that could be said about it.
    The bank reconcilliation had a cheque that would have been from the previous month that hadto be ignored thats probably why you were out by £199.
    Hope this helps you
    Bye for now
    Wends

    Thanks so much, its been a great help. I think i know where i gone wrong on the trial balance now..... just hope that i will get enough mark to pass it cuz i started foundation level 3 years ago and failed the first year, dropped it for a year and a bit and only started to take it again 6 months ago, really eager to move on to the intermedia level ^_^
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:December Exam- anyone got problems with it?
    wends wrote:
    hiya,
    I cant help with the trial balance as mine balanced, it may have just been a calculation error.
    The £500 difference on the sales ledger control was caused by the £250 credit in the subsidiary sales account.
    For the overdraft question I just said that it was an agreed amount with the bank that you could overspend, I dont think there was anything else that could be said about it.
    The bank reconcilliation had a cheque that would have been from the previous month that hadto be ignored thats probably why you were out by £199.
    Hope this helps you
    Bye for now
    Wends

    Thanks so much, its been a great help. I think i know where i gone wrong on the trial balance now..... just hope that i will get enough mark to pass it cuz i started foundation level 3 years ago and failed the first year, dropped it for a year and a bit and only started to take it again 6 months ago, really eager to move on to the intermedia level ^_^

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