FRA Simulation

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
I have just taken my aat intermediate simulation for financial records and i have the following questions:

If the amount on the p&l is a debit is this a loss, if so when you create your appropriation account I assume you are sharing out the loss, so in which case on the partnership current accounts do the capital interest/salaries get entered as a credit balance or a debit balance?

Also then do you take the new current account balances to the balance sheet or the original balances from the etb and for a loss do these current account balances get added to the capital account balances or taken away??

If anyone could help asap it would be much appreciated.

Thanks

Charlotte :?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Simulation

    Multiple post.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Simulation

    What do you mean?? :?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Simulation

    He/she means you've posted the same question in different forums, which you shouldn't do (at least I think thats what he means)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Simulation

    Why not, does it really matter? :roll:
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Simulation

    Yes Charlie, it does really matter. What if someone had taken the time to reply to the message on this forum, unaware that you had already been answered on another forum. You only need to post a query once, ensuring it is on the most appropriate forum.

    Scott.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Simulation

    Well I totally disagree I can't see as its that big a deal and to be honest I checked both so I would have been able to write that it had been answered. Surely its best to get a varied opinion because one person isn't always right, I think its stupid writing that on but each to there own hey!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Simulation

    oo Charlie you are opening a can of worms. The people that answer questions (Id like to think i've answered a few and helped) find it extremely annoying after typing out a detailed answer only to find it answered in another forum.

    Imagine if someone at work asked you to look into something, so you did but when you took it back they said its ok I got someone else to do it. You'd be hacked off.

    Anyway the people answering questions look in all the forums.

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Simulation

    Well everyone does things in error so no point going on about it hey!

    Plus like I say we are all entitled to our opinion, I've got mine you've got yours and to be honest we should be adult enough to leave it at that. :)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Simulation

    no probs, the last thing anyone wants is for people not to participate.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRA Simulation

    But you didn't do it in error, Charlie. You stated that you posted in both 'to get a varied opinion'.

    Scott.

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