Simulation 1 "Branson & Co"

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Im really struggling to get the right amounts. My trial balance doesn't balance and it took 3 days already!!!!!!!!!!!!!!!!!
JUST HELP ME!!! if someone are doing this work as well contact me please!!! Or would be great if some one has a answers for simulations from Osbourne books.
Thanks

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Simulation 1 "Branson & Co"

    If no-one has the solution, you're going to have to post the question....
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Simulation 1 "Branson & Co"

    Yes you absolutely right!!!! But when you are trying for many days and could't get the result......you get more and more confused......
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Simulation 1 "Branson & Co"

    Not sure if you get what I mean. I mean you are going to have to put the question on here so we can look at it...
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Simulation 1 "Branson & Co"

    Well....
    I have records from SDB:
    Total value of invoices: 36514.59(DR- Sales Ledger Control)

    Sales value: 31076.25 (CR-Sales a/c)
    VAT: 5438.34 (CR- VAT a/c)

    PDB:

    Total value of invoices: 9133.18(CR- Purch.Led.Cont)
    Purchases: 524.87 (DR-Purchases a/c)
    VAT: 1294.76 (DR-VAT a/c)
    Overheads: 2967.2 (DR-overheads a/c)

    This seems to be correct.
    BUT:i have records in the Cashbook as well
    DR side of Cashbook: Total column - 30590.05
    Sales Ledg. Control column - 25555.33
    CR side : Total column - 30590.05
    (incl. Wages,Drawings)
    Purchase ledger column - 10353.58
    Other column- 11430.05

    So the question is:
    Where I need to post theese all purchase stuff from the Cashbook? I think cashbook is for cash sales/purchases.Why I have columns Purchase/Sales ledger control?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Simulation 1 "Branson & Co"

    I really would of thought you should have some more information about those missing entries in the cashbook. The only thing I can think they would be is settlement discount. But 50% settlement discount for purchases is way to high.

    Unless i'm forgetting something fundamental, to be frank there is something you're not telling us....!

    Does it state anything about a contra for example?

    The reason you have entries for the control accounts is simply stating that they are receipts/payments for trader debtors/creditors.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Simulation 1 "Branson & Co"

    How much is your trial balance out by?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Simulation 1 "Branson & Co"

    for about 4000 £ :oops:
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Simulation 1 "Branson & Co"

    You are not the only one struggling on this i cant get my trial balance to balance and that means any answers for section 2 will be wrong. i am going to ring my tutor on monday as i am really struggling with the fra side of things. This has left me feeling really demotivated at the moment!!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Simulation 1 "Branson & Co"

    are you doing the same simulation????
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Simulation 1 "Branson & Co"

    Is there a bank account ?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Simulation 1 "Branson & Co"

    No bank account
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Simulation 1 "Branson & Co"

    I really like to get to bottom of this now, even just for sanity......

    Are you sure there is nothing else in the question?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Simulation 1 "Branson & Co"

    Hi yes i am doing branson and co, or supposed to be !!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Simulation 1 "Branson & Co"

    That's excelent!!!!!
    Can you send me your trial balance Account ledger column amounts? We can compare them.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Simulation 1 "Branson & Co"

    This has me curious now too. Can you let me know where this simulation is so I can dig out my old FRA books and do a little knowledge refreshing?!

    Robert

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