Well, how was it for you????

System
System Posts: 100,534 πŸ€– Admin πŸ€–
edited June 18 in AAT student discussion
Hi<BR><BR>Hope you have all recovered from this afternoons exam, it seemed ok to me, (no nasty surprises) but I have practised loads of them over the last couple of weeks.<BR><BR>Hope it went alright for everyone else, think I'll chill out now with a glass of the cold stuff!!<BR><BR>Take care all<BR><BR>Tracy

Comments

  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    <br><br><< <i><br><br><< <i>Columbia:<BR>Anyhow, too late to do anything about it now so no point in worrying about who's right and who's wrong!!</i> >><br><br><BR><BR>[snip]<BR><BR>> Should it be something like WG50 or 0050 or else?</i> >><br><br><BR><BR>How about SL50 ? - because it was a new account in the Sales Ledger and it would be the 50th account.<BR><BR>I enjoyed that exam, that can't be normal :-s
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    Glad its all over.<BR><BR>The discount Q is the only one I'm worrying about now. <BR><BR>They definitely need to consider changing the time limit, I only took 1.15 hours to do it too.<BR><BR>Roll on the results (August 17th) and roll on next year.
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    Hi Blank<BR><BR>I took it that the customer could have taken discount but didn't and so therefore the TB would agree.<BR><BR>Tracy
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    Blank<BR><BR>Cheers me dears, thats exactly what I would have done. However, on the MSN thread saw an answer relating to the Does it/Doesn't it debate relating to TB errors, and realised I read a question incorrectly and put the wrong answer, oh well confident that everything else was AOK <img src="i/expressions/face-icon-small-smile.gif" border="0"><BR><BR>Tracy
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    oh and i put WB50 (wright brothers i think was the name) and they were a supplier so it would be in purchases to the answer underneath
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    trace the last journal was, LG whitehead has gone bankrupt write off the Γƒβ€šΓ‚Β£200 plus VAT in the main ledger s<BR><BR>answer is<BR>debit VAT 35<BR>debit bad debit 200<BR>credit sales ledger control 235
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    mmm not bad Do you know what percent we have to get to pass? any body help????
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    Hi Tracy,<BR>That's how i did it (journal) and got the same for trial balance. I'm so glad its over!!!!!!!!!!! (opens bottle of wine).<BR>Speak to you all on the intermediate forum!!
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    Yeah, the TB figure sounds familiar!
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    Cheers Spongebob<BR><BR>I know I did that one right, debited bad debts & vat, credited SL Contol. My friend seemed to think there were 2 journals where you needed to double the error to correct it, now I remember doing this for the one where purchases & PL control had been posted the wrong way round (think original figure was for Γƒβ€šΓ‚Β£500, so doubled it to Γƒβ€šΓ‚Β£1000 to cancel error and post it correctly), but don't recall another one being like that.<BR><BR>Oh well, no point worrying!!<BR><BR>Thanks for your reply <img src="i/expressions/face-icon-small-smile.gif" border="0"><BR><BR>Tracy
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    The last journal said something like 'a company has gone bankrupt, they owed you 500 plus Vat. write off the 500 and vat in the main ledger.<BR>
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    Hi Again!!<BR><BR>So glad so many of you found the exam alright. It's been years since I was in the exam room, and I was the first to leave after an hour, but I felt so confident, I could probably done it in my sleep the amount of girly-swotting I've been doing. It's great to have this weight lifted from my shoulders!! Nice to know everyone had similar answers, lets all go out and celebrate (oh wait I can't, have 3 kids to look after!)<BR><BR>I put WG50 as the alphanumeric code, the settlement discount is the figure that you work out when sorting out the VAT (think it was Γƒβ€šΓ‚Β£3.60), and I said that HM Customs & Excise owed us a refund as we have obviously bought more goods in then goods sold (hope that was correct!).<BR><BR>As for the journals, after speaking with a friend afterwards I may have got the last one wrong, but unless someone can enlighten me to the question I will never know!!<BR><BR>I feel confident of a pass, and as I have completed my portfolio, theres no college until September (although I have started Intermediate on home study).<BR><BR>It's been nice making new friends on this site, and I hope to continue chatting with you soon on the Intermediate site!!<BR><BR>All the very best<BR><BR>Tracy
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    Thanks Moja. <BR><BR>Yeah they might give me partial credit. <BR><BR>I should have just said 'the company is due a VAT refund' to be safe. <BR><BR>Did everyone remember post all their discounts?? (after looking at previous examiner reports this is what most candidates miss out)
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    Yeah Cutoms is the right answer, Inland Revenue isnt really anything to do with VAT but you may still get a mark, I put<BR><BR>"A debit balance on the VAT account would indicate that the company is due a refund from HMCE"<BR><BR>Moja
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    it went ok for me thanks, all but the 210.87 i wasnt sure about that the first question in part 2 i got the same calculations as the invoice and the "will the trail balance balance" question.<BR><BR>it said<BR>a customer did not take a discount allowed, will the TB balance yes/no<BR><BR>did this mean that<BR>1. the customer was offered a discount and declined - in which case yes<BR>2.a customer was given a discount but paid the full amount - in which case no<BR><BR>basically i had 3 to the left and one to the right but the wording was helpful in that question
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    how did you all answer the debit VAT question? i said something like that the company are owed money by the IR but think i should have put HM customs??? <BR><BR>this is the only question i am doubting and i know i cant change it now but need clarification to put my mind at rest!
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    <br><br><< <i>I got the same figure for t/b</i> >><br><br><BR><BR>me too. It was easy
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    <br><br><< <i>The alpanumeric code did want a code like WRI or WB something... but I put WRI1. Not sure if this is right, as it mentioned having 50 ledger accounts already!<BR>Sinders</i> >><br><br><BR><BR>I think, that they said, that this account makes 50 accounts, no? If no, then I done it wrong.
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    I got the same figure for t/b
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    Yes that seems to be the most common figure out of our group too. <BR><BR>Still can't believe the exam only took 1hr 15 to complete(which checking twice).
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    Well I thought it went well, was straight forward enough I thought in both sections.<BR><BR>What figure did you come back to on the trial balance? I got 455,061 as did fourteen out of the sixteen people who sat it at my college.<BR><BR>Moja
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    Hi All.<BR><BR>Just finished the exam also. Beleive the results are out in August (2nd wk) I think!!<BR><BR>Did ok with the TB, Journals and Bank Rec... Not so sure about the questions, I was so dreading them anyway..<BR><BR>I took the 2% Settlement Discount from the Net figure (not sure if right, but if you take it from the gross - surely you will be doing it twice)?<BR><BR>The alpanumeric code did want a code like WRI or WB something... but I put WRI1. Not sure if this is right, as it mentioned having 50 ledger accounts already!!<BR><BR>Over all I think I have passed - Hopefully<BR><BR>Hope you all did well<BR><BR>Sinders
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    <br><br><< <i>Columbia:<BR>Anyhow, too late to do anything about it now so no point in worrying about who's right and who's wrong!!</i> >><br><br><BR><BR>Exactly. I don't feel bad<img src="i/expressions/face-icon-small-smile.gif" border="0"> I think I done good enough to pass <img src="i/expressions/face-icon-small-smile.gif" border="0">) But we will see about that in August.<BR>Or will we get results faster?<BR><BR><BR>BTW. There was Q about VAT. What VAT debit balance indicates? How did you answer that? I don't have books with me now (left at work) so I can't check right answer.<BR>And what about this alphanumeric four digits number? Should it be something like WG50 or 0050 or else?
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    Great, so happy mainly because my trial balanced, balanced along with PLC control and bank rec. confused by about five questions on second section but overall very happy.
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    oh yeah i just seen your reply over at msn, darrnn looks like i got those wrong <img src="i/expressions/face-icon-small-sad.gif" border="0">, i was so confused because the invoice had already calculated for a 2% discount so i thought that it may have been a trick question and they were just asking you to check it was ok.<BR><BR>do you know when they will publish the answers
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    hi <BR>it was okay no nasty surprises
  • System
    System Posts: 100,534 πŸ€– Admin πŸ€–
    Well, how was it for you????

    Hi Blank<BR><BR>Think I've just replied to you on the MSN site. I cannot remember the amounts in the 1st question of part 2, however I got the same amounts as the invoice, but deducted a further 2% off of the invoice (it was Γƒβ€šΓ‚Β£3 something), as early settlement discount.<BR><BR>The TB question, I had rings round the L.H.S of the first 2 questions, and the last 2 I had rings round the R.H.S, (I think!!)<BR><BR>Anyhow, too late to do anything about it now so no point in worrying about who's right and who's wrong!!<BR><BR>Take care<BR><BR>Tracy

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