December 06, SLCA

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renae
renae Registered Posts: 76 Regular contributor ⭐
in AAT Level 3 (Level 6 in Scotland)
HELP, think my brain has now died, cause I'm failing on this first task:

Asked to do a SLCA, which has credit & cash sales.
The credit sales are included as a dr, but where did the cash sales go?

I put them into the bank balance again, which was wrong....they just don't appear!
And the assesor notes just say they everyone sucked at this!

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  • taskey
    taskey Registered Posts: 1,800 Beyond epic contributor 🧙‍♂️
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    it asks for the total sales figure, not just the cash

    hope that helps

    Tracy
  • Jentel
    Jentel Registered Posts: 60 Regular contributor ⭐
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    Cash sales do not go in SLCA. this account is for credit sales only. For that particular task as only asking for Credit Sales. You only needed your cash sales to add together with your credit sales to put into the trial balance in Sales - Hope that all makes sense.

    My brain gave up hours ago...so whatever happens tomorrow happens.
  • renae
    renae Registered Posts: 76 Regular contributor ⭐
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    :crying:that's what I don't understand, the only thing on the dr side is the balance and the credit sales, the cash sales figure don't appear anywhere!
    Think I may have had to many pro plus & fags today!
  • taskey
    taskey Registered Posts: 1,800 Beyond epic contributor 🧙‍♂️
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    question 1.1 asks for total sales for Trial balance

    question 1.2 (a) asks for sales including vat for SLCA

    question 1.2 (b) is asking for the receipts paid into bank (incomplete records) but using your answers from 1.1 and 1. (a) you should be able to reconcile it

    Tracy
  • taskey
    taskey Registered Posts: 1,800 Beyond epic contributor 🧙‍♂️
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    have you looked at the suggested answers to see what they have done??

    tracy
  • renae
    renae Registered Posts: 76 Regular contributor ⭐
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    Ah, so they are trying to trick me into either putting it in the SLCA in error, or NOT putting it onto the tb in error, how mean!
    Thanks for the replies.
    Thank god I didn't do that paper.......I'm holding out for one with the answers on it to be honest, not much hope otherwise.
    AND, the dec 05 paper had a balance sheet in it....had no idea!
  • taskey
    taskey Registered Posts: 1,800 Beyond epic contributor 🧙‍♂️
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    i am also sitting it tomorrow and am dreading it.

    just read the question and try not to panic

    And GOOD LUCK

    Tracy
  • renae
    renae Registered Posts: 76 Regular contributor ⭐
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    omg, the next question TELLS ME the cash sales have been paid into the bank account & that all cash sales are banked. what a womble....sorry guys
  • taskey
    taskey Registered Posts: 1,800 Beyond epic contributor 🧙‍♂️
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    no worries

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