AAT foundation nvq homestudy help!!!

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Is anybody doing homestudy using workbook by osbourne books.

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    Hi,

    I'm doing the nvq home study with Premier Training using Osborne Books. What is your problem :?:

    Jackie
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    hi, i am also doing my course with premier training,i am stuck on assignment sunny days task 7 i cannot get the sales ledger control account to balance to the same figure i got for the subsidiary (Sales) Ledger control account, for the subsidiary sales ledger account on page 330 i get £127,353 but for the sales ledger control account on page 321 i get £127,452 i cannot see where i have gone wrong. can you help/
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    Hi,
    I have done this but i'm at work at the moment and all my coursework is at home. I will look it up when i get home and get back to you tonight.

    jackie
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    thanks that would be great.

    Gemma
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    Hi,
    Just going through sunny Days and it is difficult to help without seeing your Sales Ledger Control, however, this is an assignment so you do need to try to find the error. Do check/and double check all your figures which have been transferred from cash book, sales returns, bad debt etc etc..Sometimes it helps to read on through the whole task and look for any suggestions of discrepancies for a small amount of this difference.Good Luck. I'm off to the gym so won't be around for a few hours!

    Jackie
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    hi,

    i did as you said and can't find the discrepancy:
    my sales ledger control account looks like this;

    Dr

    1 jul balance B/d £102,371
    31 jul Sales £73,320

    Cr

    31 jul sales returns £2632
    31 jul discount £478
    31 jul bad debt £517
    31 jul cash book £44,702


    can you help?

    gemma
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    Hi Gemma,

    Balance your sales ledger again and you will find the balance is £127,362 which will show a small discrepancy of £9. This is correct, a later question will ask you what could be the reason for this discrepancy.

    Hope this helps :D

    jackie
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    hi,

    that's the next part of the question to give a reason for any discrepancy can you give me any clue's as i'm puzzled.

    thanks,

    Gemma
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    Hi,

    Do i need to find the £9 discrepancy or do i just have to give a possible reason for it such as error maybe on returns posting?

    Gemma
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    Hi,
    You just need to give a possible reason for the discrepancy, you do not need to find it.

    Jackie
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    hi jackie,

    Could you give me a clue as all i can think of is error on returns. I also have the same problem for previous task not sure what £3 discrepancy on that 1 is.

    Thanx

    Gemma
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    Gemma,
    As the discrepancy is £9 it could be that e.g the figure has been entered as 45 and not 54 (or the other way around depending wether it is too much or or too little). This is covered somewhere in the tutorial book but without looking can not say where!This is only when the discrepancy is 9 so I would imagine the other one is an addition error? Hope this helps.

    Jackie
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    Hi Jackie,

    I am confused as to what figure you mean when you mention 45 & 54.

    Gemma
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    Gemma,
    I dug out my Foundation Tutorial Book last night and was correct in saying that errors are covered in there. Chapter 21, page 425/426 explains errors of £9 or errors which are divisible by 9. It would be best if you read this rather than me trying to explain :!:
    The whole chapter covers types of errors and correction of errors :)

    Jackie
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    hi Jackie,

    ok i will have a look this morning. Also i am stuck on task 9 i don't balance on the debit and credit's by 252223. below is what i have:

    Debit Credit

    Purchases 277035
    Sales 424424
    purchases Returns 4977
    Sales returns 12199
    Discount Allowed 1960
    Discount Recieved 1100
    Wages 102831
    Rent Paid 5721
    Rates 3780
    Bank Charges 451
    Postages 2798
    Stationary 1838
    Travel Expenses 2863
    Bad Debt Written Off 944
    Sundry Expenses 2998
    Vehicles 12000
    Office Equipment 6000
    Stock 38435
    Petty Cash Control 100
    Bank 4772
    Sales Ledger Control 127362
    Purchase Ledger Control 95979
    VAT 3331
    Loan from bank 15000
    Capital 75000
    Drawings 16075
    Suspense 2150

    Total 494950 747173

    As you can see i have a large difference.

    Can you help.

    Thanks

    Gemma
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    That came out a bit wrong is it possible to email you or something?

    Gemma
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    Hi Gemma,

    Would love to help you more but I very busy with my own business and my Intermediate Course which I am trying to do in 6 months :? , not forgetting my six kids and horses too :!: I think it would be better if you contacted Premier if you are struggling - Sorry :!: They offer tutorials which I haven't used as yet but sounds like it could be useful :)
    Keep me posted with how it goes.

    Jackie
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:AAT foundation nvq homestudy help!!!

    Hi Gemma

    I too made the difference £9.

    The only thing I can think it may be is that the discount allowed in the Sales Ledger Control may have been put down incorrectly (i.e. £487 and not £478) and this would then make both accounts balance i.e. a reversal of figures.

    Maria

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