HOW DID WE DO

System
System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
edited 10:32AM in AAT student discussion
i feel i did ok 2day not going into detail yet wot do u fink ?????
ยซ1

Comments

  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    ok i guess, a little worried about not balancing
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    do you think you can fail for messing up the memo. Without going into detail I completely messed up the first part of it, but ok on the rest. Didn't do foundation so not used to this, can you fail if don't get memo right but rest of section OK?

  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    as long as u got main thing right dun worry
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    it won't show complete incompetence not being able to explain something?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    I rather think that if all you've got to worry about is part of a memo then you'll have done just fine. Exams aren't like the skills tests where you have to show competence in every task.

    Chris
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    Todays exam went well however one of our students missed the last page of the exam because of the weird presentation(no it wasn't me!!!)She was fretting about the marks she has lost.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    Tell me about it!! I nearly missed that had it not been for my curosity as to what the page was for..
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    Not sure that I have shown I am all that clever... Completely got exam nerves. Which is the total opposite of the costing one where I thought I did well...
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    Went very well! My TB actually balanced although i thought on the whole this paper was harder than the December one. Does anyone else agree? :?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    My TB balanced duno how though
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    Yes, I thought it went extremely well. TB balanced first time (virtually unheard of! lol) Thought it was a very well put together paper - tested everything we knew. Feel very confident about it.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    Hi,

    I did realy well on section 2 ,But think i flopped section 1 :cry:
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    I found FRA yesterday quite taugh, it was exactly like December 2003 paper!

    My TB didn't balance.. :cry:

    How did you do for prepayment and accrual?
    Does anyone remember any figure?

    Depreciation and disposal was a long step but I did it right

  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    I am one of the doppy ones that missed that last bit. Does anybody have any ideas on how many marks I would of lost. Cant beleive they set it out that way, surely they should of made it more obvious!? :?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    Set out of the paper was crap! Think it went ok tho :) Was chuffed wen i cn the way they'd set out the partnership questions- was really worried bout them :s Was pleased to c depreciation come up in the memo question tho :D
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    Hi, I didn't balance my TB in the first section, I ended up putting in a suspense account.

    Additionally, I couldn't clear my suspense on the second section as all of my journals that would have cleared it were CRs and the suspense on the TB was a CR therefore it would not clear but double. I know which figs would have cleared it but it really confused me. I got very stuck, can anyone shed any light on the situation??

    Thanks :?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO
    AliciaFleming wrote:
    Hi, I didn't balance my TB in the first section, I ended up putting in a suspense account.

    Additionally, I couldn't clear my suspense on the second section as all of my journals that would have cleared it were CRs and the suspense on the TB was a CR therefore it would not clear but double. I know which figs would have cleared it but it really confused me. I got very stuck, can anyone shed any light on the situation??

    Thanks :?

    Me too same problem

    I remember those journals:

    DR SUSPENSE
    CR CAPITAL

    DR WAGES
    CR SUSPENSE

    DR DEPRECIATION
    CR SUSPENSE

    (for the wrong purchases posted)

    DR SUSPENSE
    CR CREDITOR

    DR SUSPENSE
    CR PURCHASES

    Does anybody recognise any of those?



  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    Hi Had same problem til i realised that the vat had not been posted so needed another journal
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO
    blummincars wrote:
    Hi Had same problem til i realised that the vat had not been posted so needed another journal

    So there was a journal for VAT as well? I though VAT was ok...oh no! :?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    Ye you had to do a journal for VAT (ร‚ยฃ420?? i think) and suspense.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    Well its how i did it, not guarenteed of course but it made mine work lol
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    I got my suspense account cleared by

    CR PLCA
    CR Purchases

    DR Suspense Account
    DR VAT

    Can't remember all the journals before that one but as it cleared I'm gessing I did ok.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    I've just realised I've missed the last page too. I thought I'd finished after the appropriation then went back to try and balance the first section TB again (and finally managed it!)then left thinking I'd finished with time to spare. I just don't believe it, as the next two pages were blank as I seem to remember. Has anyone done the same thing and not realised it yet!!!!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    Yes, I found the journal for Vat.
    It was the Capital journal that confused me.
    Its said that the bank enrty had been entered correctly therefore it had been debited and it would be DR Suspense
    CR Capital

    I think I know where I went wrong now.

    Thanks :S
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    totally failed section 1 :cry: the accrual just totally confused me so my TB didn't balance so just put in a suspense account. Section 2 thought was rather straight forward though, managed it all. The journals I got - you had to CR the VAT account for the last question then it cleared the suspense account. The paper was way harder than the Dec paper I thought how unfair.

    ECR was much easier I thought.
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    I forgot the VAT. Just didn't click that it hadn't been dealt with.

    My TB did not balance either. Out by ร‚ยฃ950. Stock was a pig and could't get my head round the Disposal and Accumulated Depreciation. What a nightmare!!
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    I didn't remember at all how to calculate stock, so I guess it and of course my TB didn't balance!

    does anyone remember the stock's amount?

    Accrual I used ร‚ยฃ390, but the question confused me, it said "payment made 31st May but it was for quarter ending 30th April" but end of the year is 31 March, so next quarter should finish end of June...

    how confusing... :?
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    I used that payment as a whole prepayment as was for next year
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    In the question about rent I put 4900 from the bank into the debit side of the rent and then put the balancing figure of prepayment on the debit side and then i PUT 900 for the prepaymentin the credit side is that right. Also with the closing stock i got the sales figure of 1980 and took it away from 90 and 120 is that right :(
  • System
    System Posts: 100,534 ๐Ÿค– Admin ๐Ÿค–
    Re:HOW DID WE DO

    the ร‚ยฃ390 which was paid in May partly related to the year that we were doing. You had to put in in as an accrual, not as a prepayment because it hadn't been prepaid. It was all paid the following financial year.

Categories

Privacy Policy