Does anyone think I've done enough to pass?
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I sat DFS and PTC.
In DFS i got first question to balance, journal entries I had as :
DR Bank 2000
CR Ordinary shares 2000
DR Fixed asset ac dep (cant remeber exact figs)
DR Dispoal
CR Fixed Assets - Cost
CR Profit on fixed asset
I couldn't get balance sheet Task 1.4b to balance so I went back and ended up with 5339 as retained profit(task 1.4) and when I added that to P&L a/c on balance sheet it some how balanced. BUt by looking at other peoples comments this was incorrect.
Couldn't write about SSAP 18, just waffled but wont get any marks, I also couldn't remember anything about Goodwill so all I wrote was FRS 10 hoping they will give me a bit of credit(fingers crossed)
Section two - I wote quite a bit and think I've done enough to pass this section it just section one that I need to hopefullt scrap a pass!!
In PTC i took the contibution off the figure of emmisions not the value of the car I have never been told about that rule. So I know that is wrong. I added in the petrol expense but again used the original car value.
I did not include the pension, just grossed it up to 300 that was a month so I multiplied it by 12 so I added 3600 onto 31400 to increase the middle band of tax! was I supposed to do this or was i only supposed to increase it by 300?? (ive realy messed up both exams) by using my incorrect figures i worked out that they had paid to much!! So they would receive a tax rebate. (hopefully since they can only mark me down onc for the mistake if my workings are correct I should get some marks there.
I said she should take the loan option as that was £6000 x 5% instead of £6000 x 20%.
Section two - indexed first question twice to make it up to 1998 i think thata the date.
second question added the 2000 onto the 2000 with no extra cost the cost equalled 3000/4000 x cost. The indexed that last one on the sheet they provide us.
Did the land Dont think I had any problems with this.
I think I had taper relief as 75%, 90% & 75%
Sch E month x 12 then x 2 (two prop's)
the took away agent fees and something else but cant remeber what it was!
Then took p/allowance off this figure
then did sch A 2020@ 10% then about 8000 @ 22% then dividends @ 10%
CGT
some at 20% and balance at 40%
Car exempt
Does anyone think I did enough to pass??
BE HONEST
P.S Does anyone know when we get the results?
In DFS i got first question to balance, journal entries I had as :
DR Bank 2000
CR Ordinary shares 2000
DR Fixed asset ac dep (cant remeber exact figs)
DR Dispoal
CR Fixed Assets - Cost
CR Profit on fixed asset
I couldn't get balance sheet Task 1.4b to balance so I went back and ended up with 5339 as retained profit(task 1.4) and when I added that to P&L a/c on balance sheet it some how balanced. BUt by looking at other peoples comments this was incorrect.
Couldn't write about SSAP 18, just waffled but wont get any marks, I also couldn't remember anything about Goodwill so all I wrote was FRS 10 hoping they will give me a bit of credit(fingers crossed)
Section two - I wote quite a bit and think I've done enough to pass this section it just section one that I need to hopefullt scrap a pass!!
In PTC i took the contibution off the figure of emmisions not the value of the car I have never been told about that rule. So I know that is wrong. I added in the petrol expense but again used the original car value.
I did not include the pension, just grossed it up to 300 that was a month so I multiplied it by 12 so I added 3600 onto 31400 to increase the middle band of tax! was I supposed to do this or was i only supposed to increase it by 300?? (ive realy messed up both exams) by using my incorrect figures i worked out that they had paid to much!! So they would receive a tax rebate. (hopefully since they can only mark me down onc for the mistake if my workings are correct I should get some marks there.
I said she should take the loan option as that was £6000 x 5% instead of £6000 x 20%.
Section two - indexed first question twice to make it up to 1998 i think thata the date.
second question added the 2000 onto the 2000 with no extra cost the cost equalled 3000/4000 x cost. The indexed that last one on the sheet they provide us.
Did the land Dont think I had any problems with this.
I think I had taper relief as 75%, 90% & 75%
Sch E month x 12 then x 2 (two prop's)
the took away agent fees and something else but cant remeber what it was!
Then took p/allowance off this figure
then did sch A 2020@ 10% then about 8000 @ 22% then dividends @ 10%
CGT
some at 20% and balance at 40%
Car exempt
Does anyone think I did enough to pass??
BE HONEST
P.S Does anyone know when we get the results?
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Comments
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Re:Does anyone think I've done enough to pass?
hey, dont worry.
you will pass. but you did so many mistake.
Firstly, you are journals entry , the correct answer,
Dr Bank 3000
Cr Ordinary Share 2000
Cr Share Premium 1000
FRs10 State, Goodwill and Intangible Assets not amotize, if it has indefinite useful life. But imparement is needed, refer FRS11.
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Re:Does anyone think I've done enough to pass?
Your responses to each question on DFS were very similar to mine, and having read all the other people's comments on the website my gut feeling is that i havent passed....but i am very negative when it comes to exams and i have been wrong before!
It was the same reading your comments on PTC, but i ignored the pension, (i know i was probably wrong to do this) but even so i think we've probably passed this exam.
Still, if we have passed one and failed one that isnt too bad!
Good luck.
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Re:Does anyone think I've done enough to pass?
Fingers crossed weve done enough to scrape a pass in both exams.
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