FRA- Did your Extended T.Balance tally??

System
System Posts: 100,534 šŸ¤– Admin šŸ¤–
edited June 18 in AAT student discussion
SECTION 2- I just hope i am not the only one whose trial balance did nothing like BALANCE like i was hoping it would!!

I was doing so well in the first section up 2 to the first few journal entries. My first T.B amounted 2 333,963 if i remember well. Upon arriving at the last entry based on disposal i just went blank. I entered the rest in the T.B and i even tried 2 do the P n L at the back.
Maybe i'll score a few marks 4 knowing what 2 be done although not done correctly..

Who wants 2 talk bout this paper?? Is everyone scared?!??!!

Ā«13

Comments

  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    Hey, sorry to say that my Entended Trial Balance balanced fine i cant remeber the net profit amount, around ƂĀ£15000 i think but cant really remember...

    Found the exam much easier than the previous papers... which was a nice surprise.
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    Just got back in from todays exam, i actually thought that it was quite hard, different from previous papers, my tb didnt balance, or the etb, got stuck on depercation, thought i did ok, better than june's, will just have to wait and c

    The main thing is that i attempted every question, some were easy other not
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    Mine balanced fine and the net profit was 14945 (god im sad). I was quite pleased with the way mine went, but only due to the fact that I had a "light bulb over head" moment half way through and changed a lot.
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    i had a nightmare. the first section was ok - managed to spot i had posted all the debits / credits on the wrong side of the bank summary. Trial balance out by 1045

    the second part i managed the journals, but completely messed up the rest, nothing balanced. i think my paper looked like a 5 year old had got a hold of it with a crayon.

    i too attempted each question. i am confident i passed the first section but i think i will again fail on the second section.

    oh well, will just have to resit for the fourth time in June.

    at least i am confident on the ECR on monday. i wont have to resit that.

    well i have just ordered a pizza and am going to CHILL

    tracy
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    I got mine to balance, I have to say I thought the paper was easier than some of the ones in the past, not too much on FRS's and stuff I hate the wordy questions but sales ledger rec's was ok.

    Just have to wait till 20 Feb now. why does it take soooooooooooo long?
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    my etb balanced. i had a profit of ƂĀ£14,881. anyone else have anything like that?????

  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    my etb balanced but i had a profit of ƂĀ£15oo something i think! it was the journals that messed me up.. i HATE journals so much!
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    Didn't find the exam too bad, not has hard as i was expecting.

    Everything balanced and reconciled
    8) , my profit figure was just below 15k.

    Fingers crossed, what a long wait though!?! :roll:
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    exam was easy i think, ETB net profit = 14791
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    hmmm net profits all within about ƂĀ£50 of eachother!! tricky veeeeeeerrrry tricky.....

    Oh well all over now, pour a glass of wine and watch telly.... for a change!!
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    Hi All

    Well what was that!! Weird paper or what. Like someone said no FRS etc and no mark up and margin (good I hate them!) no appropration account etc. You couls say was easier in some ways and harder in others as it amde you look too deeply into some things.

    Some stuff was like PLB June 2006.

    I'm sad too as I wrote my figures down when I gor out to remind me!!!!

    I got TB Section 1 333939 and Section 2 profit of 14562.

    Seems a lot of us got similar figures to each otehr...surely that's a good thing.

    WEll I'm off out to dinner and a few glasses of wine... busya t work tomorrow but deserve it!

    Roll on next Wednesday when both skills tests are done.

    Have a good evening everyone.

    :lol:

    I got
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    I agree with you was far easier than I anticipated,I have been practicing mark up and margins all weekend and all the frs's ssap's standards everything. Everything balanced first time and have roughly same figures cant quite remember and I didnt write them down....wish I had now though!!
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    Hi All

    Seems most of us are like minded about the exam.

    I started off really well on section 1, but then in section 2 on the extended TB got quite stuck when it came to balancing! Maybe to do with my journals (not my strongest point) think it was either to do with the asset disposal or the accumulation. Anyway, spent far too much time on it and I'm glad I had plenty of time left! I eventually got it to balance with a 150-- net profit. Hopefully even if it's incorrect I'll get some marks for it!

    Shame we have to wait so long for the result.
    Does anyone know how it's marked..i.e. what percentage pass on each section??
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    I got ƂĀ£333,939 for the Section 1 TB, and a profit of ƂĀ£14,791 for the second bit, I remember that coz I had to change it, as I forgot to put in the extra ƂĀ£15 for loan interest, so at first, my balance sheet didn't balance!!! Oops!
    Fingers crossed til February!!! (christmas dinner's going to be hard to eat with my fingers crossed but never mind!!! hehe)
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??
    KateCM wrote:
    I got ƂĀ£333,939 for the Section 1 TB, and a profit of ƂĀ£14,791 for the second bit

    Yeah they ring a bell there were a few odd things in the etb with the disposl actually being a net gain on disposal and havign to reduce the provision for doubtful debts
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    Hmmm, provision that's what I meant, not accumulation...my head is in bits, I've been revising in 6 hour stints every day for the last week! But still can't quite get asset disposal!
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    I think I got ƂĀ£333,939 for section 1 and A profit of ƂĀ£14,791 in section 2. What accounts did people put when asked what accounts would be under current assets. I thought the bank account was overdrawn so settled for Debtors and Provision for bad debts.
    :roll:
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    Yeah i went with stock and debtors
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    I put debtors and stock
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    I added the existing balance of loan interest ƂĀ£165 to the ƂĀ£180 (7.2% of loan), giving me a loan interest balance of 345.

    My profit fig was 14,626, differing by 165 from all these 14,791's I keep reading!! Have I done it wrong??? Not the end of the world I know, but would just like some feedback!

    Ta! :D
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    Oh dear I think I've done wrong then, cos I read the question that the interest is to be 7.2%, so I journalled in the difference of the current and the actual! eeek, now I'm more worried, maybe I should keep off this site! :roll:
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??
    claire_th wrote:
    Oh dear I think I've done wrong then, cos I read the question that the interest is to be 7.2%, so I journalled in the difference of the current and the actual! eeek, now I'm more worried, maybe I should keep off this site! :roll:

    I did that too! Ur right it can be worrying again as I've said before and I'll say again i doubt it will be the difference between passing and failing.
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    Don't worry - I'm pretty sure it's me who's wrong!! Anyway, I'm sure it's not a fail for either of us! It was generally quite easy I reckon, and there were so many 'give away marks' questions, I'm sure they'll compensate for any small mistakes on the more complicated ones!
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    I also put through a journal for ƂĀ£15 adjustment and not the total ƂĀ£150 on interest - my profit was ƂĀ£135 higher than my work colleagues so not sure who was right but at least could see why there was a difference!

    I'm sure my final profit was 14761 not 14791 - but have had a couple of drinks this evening so my mind may be playing tricks..

    Did like those tick box questions though :-)

    gw
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    Yeah especially when it asked you who would approve a purchase or a vehicle and it gave you an option of the receptionist! That nearly gave me the giggles!
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    S*d it and thank god for the own figure rule!

    ps the reason you're 30 out is because 7.2% of 2500 is ƂĀ£180, not ƂĀ£150!
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    Hiya!

    Both of my Trial balanceS BALANCED for the FIRST time ever, and I got same figures with yours and was soooooo GLAD the paper was much simpler than previous papers, even PART-XCHANGE wasn in it (thank God 4 dat, I HATE it! It made me mess up my Section1 in June). One thing now, I was sooo happy until now, wen some pple r saying they ballanced too but with slightly different figures. thats worrying me now.... :roll:

    Well got PCR 2mrw for Technician, so I better kick it on dat 1. Hopefully the paper is as straightforward as 2days'...LOL :wink:

    Bee
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    ƂĀ£15 for the loan interest? I had much more than that. Mine balanced at ƂĀ£14626 I think. Wish I had not come on here now, I was feeling confident until I realised I have messed up :(
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??
    LucyBoo wrote:
    I added the existing balance of loan interest ƂĀ£165 to the ƂĀ£180 (7.2% of loan), giving me a loan interest balance of 345.

    My profit fig was 14,626, differing by 165 from all these 14,791's I keep reading!! Have I done it wrong??? Not the end of the world I know, but would just like some feedback!

    Ta! :D



    I had exactly the same as you
  • System
    System Posts: 100,534 šŸ¤– Admin šŸ¤–
    Re:FRA- Did your Extended T.Balance tally??

    I think the contention is that some people read the question to say "adjust the balance on the loan interest account" and others (like me!) read it to mean "accrue loan interest in addition to the existing balance". I didn't write the actual question down, so I guess it's all in the hands of fate now!! Either way, I'm sure we'll all be fine, as it sounds like we all gave it the same treatment one way or another! :D

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