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So how did you find it?
margery dawe
Just JoinedRegistered Posts: 4
Just wondered how everyone go on today.
I thought it was quite a good paper although I was thrown by a couple of questions.
Suspense Account
I had to think twice about this one as it said to correct the mistakes and then post the correct postings. I hope I was right in crediting the £120 posting and then debiting the correct £1200.
Also, on the bank reconciliation question I was thrown by not having to take into account the £1364 receipt on 9th November. Surely if this had been counted in the previous months rec. it would have cleared in the bank well within the 9 days!!! I had to cross out all my totals and balances!!!
Apart from that, I thought it was a good paper and feel I have done OK!!!
Famous last words!!
I thought it was quite a good paper although I was thrown by a couple of questions.
Suspense Account
I had to think twice about this one as it said to correct the mistakes and then post the correct postings. I hope I was right in crediting the £120 posting and then debiting the correct £1200.
Also, on the bank reconciliation question I was thrown by not having to take into account the £1364 receipt on 9th November. Surely if this had been counted in the previous months rec. it would have cleared in the bank well within the 9 days!!! I had to cross out all my totals and balances!!!
Apart from that, I thought it was a good paper and feel I have done OK!!!
Famous last words!!
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Comments
about the suspense account yeah i think you are right , well that is what i did, also i did that on the first one were it said it had been entered twiced...
Hello everyone,
does anyone know what's the minimum score to pass the exam IAC 30 Unit, and when will the results be ready?
Thanks
Same here...I just put it down to AAT having a bit of fun...I guess the £1364 should have been a payment, not a receipt. I left my reconciliation unbalanced for just this reason - rightly or wrongly
Same for me for the bank reconciliation, I spend 50 minutes trying to reconcile it and I couldn't.
Not enough luck I suppose. The rest was quite easy and similar to past exam papers.
Do you know anything about the results?
Thanks
I thought the paper was OK too apart from the bank reconciliation - I also left it unreconciled because I couldn't think of a reason to leave the £1364 out - can't wait to see the Chief Assessors 'weaker candidates' comments on that one!!!
I am ok at the reconcilation as I tend to look at the starting balance in the statement and the ledger account and if they are different amounts, I work the difference and see if there is an entry in the bank statement that will cancel the difference and ignore that entry.
I may have messed up in the journal entry as I debited 1080 instead of crediting 120 then debiting 1200.
I cannot remember what else may have threw me, I think this was a straightforward exam.
Do we find out our results in February??
Anyone know exactly when we find out our results?
In the end I discovered the opening balance in the bank statement wasnt accounted for in the cash book. When i added it to the credits it made the cash book figure and the reconciliation total the same amount.
Anyone else do this? Pretty sure its correct
Also, what did you guys put for the first <blank> in the last question on writing the letter?
01 dec 09
dear sir
invoice 111111
" __________ for the above invoice. Received today."
any thoughts?
I wrote "thank you" as that was the only thing I could think of. lol
hey:
thats how i did my bank and cash reconciliation
also i did use Acknowledge/Confirmation as the word for the letter
I didn't notice the opening balance being unaccounted for in the reconciliation though. Hmmmm.
Did anyone else notice that one of the cheques paid out cleared in the bank account on 19th yet wasn't entered in cash book until 25th? or am I just going loopy?
Does anyone know when the paper and answers will be available on here? I thought they went on at 9am today for some reason
I was also stumped by the reconciliation and wrote at first included the 1364 payment, but then wrote up the side of the page saying to leave that out then re-added it all up and it all balanced ok then, it just looked a bit messy!
I also put 'thank you' for the first word and did 1200 and 120 for the suspense account.
One thing I know I've definitely gotten wrong is the revenue and capital expenditure. Its not something I could remember at all
And for the results.. I don't know the pass rate, but the results will be revealed on 16th February.
I wonder if they give partial marks for some of the questions?
Just wondering, what was the last part of the 2nd section of the exam?? Was it the bank rec or was it a set of questions??
Thank You..
Hope all of you passed the exam..
2.19 Complete Invoice Calcs
2.20 Fill in blanks of letter
From what i can remember anyway....please correct me if i'm wrong.
Mike
I asked that because one of my friends who took the exam said that he left immediately after finishing the bank rec, so that means he left 2.19 and 2.20 unanswered..
I should tell him that later..
Oh and how many points do you think were there in 2.19 and 2.20??
Thanks..
Hi,
Just wondering if anyone remember any tricky questions in this year papers.
I think it was straightforward, but now forgotten most of the questions (my memory sucks)
I think you and my friend had the same exam coz he said there was no letter in his..
I did the exam yesterday and i don't remember a question like that, thought the bank rec was the last question... please tell me i've not missed the last page or something stupid!
Anyway, if we were all only stumped on this and the journal entry hopefully we all did good!
That's exactly how I remember it...can't wait to see the exam paper on the Website
I left the £1364 out in the end and ignored it, although I can't remember anything about the opening balance on the cash book!!
The letter I filled in with Thank you too.
Some people were doing the NVQ paper in the room at the same time, so maybe that's why people are saying they didn't have letter.... they were just simply doing another paper.
What did people put for the capital and revenue expenditure. The only one that stumped me was fitting a letter plate to the door. I put capital exp. as it is improving an asset (ie the building), was I right?
I didn't realise the paper would be on website so quickly.
Hi everyone
Thank goodness there are more of you out there that had problems with the reconcilliation! I finished the paper and went back to that question and took over half an hour doubting everything I'd learnt and juggling the figures round to try and get the figures to balance, before the light finally went on and what a relief! A bit mean to show the payment in so late in the month though.
How did any of you find the balancing of the sales control ledger with the subsidiary ledgers, with that journal entry sneaked in at the bottom?
Yes, I too put 'thank you' for the start of the letter and I'm sure that will be right.
Sometimes the answers are too obvious, which makes you look for a catch!
Fingers crossed for us all.
Soooo glad everyone had probs with the rec, I thought it was just nerves getting to me!
I managed to reconcile it in the end, by leaving out the receipt, but I was sooo annoyed as it was the one part I was feeling really confident about! Bit worried tho as I did not put any notes as to why I was not including it.
Journal corrections stumped me a bit with how they asked us to show each individual correction, but I done the same with the £120 and the £1200.
Cant believe we have to wait until Feb
Also, I put 'thank you' on the letter lol
Is it up already? I had a quick look but couldnt see it anywhere...