FRA figures?? Its 8oclock now!

angela27 wrote: »

why does the residual accumlated depreciation have to relate to the other fixed asset of 1000. the accumulated depreciation could be a couple of years depreciation on the vehicle we got rid of and if my theory was correct and we had already credited the bank and debited the vehicle account and this has just happened there would be no accump depcn on this asset as yet

this gets more confusing I can't remember there being a vehicle on the books in the first place!

catz wrote: »

Hi all.

How did you all do? i did well in section 1, but not good in section 2, i just got confused with the accum depre i wrote 1275, but then erased it. Deprec charge was 325 but did not put it in the adjustments, the b/s was £50 out, the interest rec was put after the gross profit but then, GUESS.........yes i erased IT:mad2:
Can someone tell me what figs they got for current acc and does anyone know what the pass rate is? because skill test is 80%, exam should be lower:001_unsure: i hope. I am just going to worry worry and worry for 9 wks any tips to get my life back, it was my last exam.

I got

TB: 176940
Proft: 18250
B/S: 9100

This seems to be fairly consistant across the board, there is disagreement on the pass mark, but I think its more likely to be marked on a curve then by strict % every year

I think my equipment balance was £2300?

Reading a post on another thread I think I may have misread the drawings/wages problem.

I increased the wages to 44500 and decreased the drawings for Jan (?) down to £18000 - was this the wrong way?

cathg wrote: »

Reading a post on another thread I think I may have misread the drawings/wages problem.

I increased the wages to 44500 and decreased the drawings for Jan (?) down to £18000 - was this the wrong way?

I'm with you again on this one

I increased the wages to 44500 and decreased the drawings for Jan (?) down to £18000 - was this the wrong way?[/QUOTE]

me too, did you debit the wages account by the extra 2000 i think it was, and credit the current account? thats what i did

that's brill - the only problem with these forums is you start believing that other people are right!

garry_coombs wrote: »

I got

TB: 176940
Proft: 18250
B/S: 9100

This seems to be fairly consistant across the board, there is disagreement on the pass mark, but I think its more likely to be marked on a curve then by strict % every year

Could be then, if lots have done well, only the very best will get a pass?

where did everyone sit there exams just out of interest, i sat mine at carshalton college

HI

Maybe we should just wait for our results, but it is to tempting not to try and check your results

Andrea

New College Nottingham

I did better than i thaught. Had nerves at the start could not remember what to put in the Bank a/c but managed in the end. All my trial balances and P&L and B/S balanced (which was a 1st as they never did in any of the practice ones i did and there was a good few of them )with the figures most of you are talking about. £9100, disposal loss £125 etc. With the depreciation i went to credit the bank a/c but then changed my mind and credited back the equipment as i just thaught of the practice exam that had been similar....not that i still understand why.

I THINK WE HAVE ALL DONE PRETTY WELL.

I think maybe the reason Sandy has given any answers tonight because FRA is probably not his unit...

Jentel

You are correct FRA is not sandys unit he does ECR,PEV,MAC and things to do with CIMA,I don't know if there is anybody else who can help out on FRA.

diane79 wrote: »

Interest received would be sundry income and cnsumable as expenses i think

Ahhh I think I forgot interst received

i am such jakass i forgot to debit prepayment i debit it bank instead and messed up my B/S apart from that i done well .....would i still pass??? what the pass rate???