Anyone done the same?!?

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Know i really shouldn't go over what is done, but anyway.......!<BR><BR>Task 1.1 - As all the past papers have had shares at a value of £1 todays paper threw me slightly!!<BR><BR>When working out the dividend i did:<BR><BR>8,000,000 @ 0.50p each = £4,000,000<BR><BR>£10,000,000(Share cap on trial bal) - £4,000,000 = £6,000,000 shares @ 0.25 = 24,000,000 shares<BR><BR>24,000,000 shares + 8,000,000 shares = 32,000,000 x 0.06 = £1,920,000 dividend.<BR><BR>Does that sound completly wrong?!?!?!?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    So did you do £10,000,000 in the trial balance = 0.25p shares therefore there are 40,000,000 shares for the dividend working?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    If you have messed this up don't worry as it will only be marked wrong once. I know it does affect other answers but it is the same error brought forward. Don't beat yourself up about it you haven't lost lots of marks because you entered the same figure lots of times - one previous error only.<BR><BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    I got £2400 + £1600 total £4000 for the dividends... couldn't get my balance sheet to balance though<BR>and had to guess the STRGL & share reconciliation too.<BR><BR>The only part I did ok was the Cash flow statement and reconciliation.<BR>Even messed up the ratios! Bugger!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    think they only mark u down 4 1 thing once dont b too depressed
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    Hi,<BR><BR>You got the same total as me, so unless we have both made a mistake hopefully we have got that bit right.<BR><BR>The Statement of Total Gains & Losses threw me, the only bit I wasn't prepared for..... Oh well with any luck the rest of it will be ok<BR><BR>Kaz Scanlon<BR><BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    Hi Coggy, I am 100 percent with you, an these figures are right I am sure. my balance sheet was matched and overall I am satisfied with the performace.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    the value of the shares was £10,000 but at 25p each meant that there were 4 times as many shares, i.e. 40,000,000 shares at 4p is 1,600,000 as stated paid and 6p is 2,400,000. Total dividends were therefore £4,000,000. that's how i did it anyway<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    Balls, the examiner is gonna think i'm a complete thicko now! Why didn't i just go with what you lot are saying - i even thought of that and started doing it that way!<BR><BR>Feel depressed now and the dividend figures is carried over to the BS and the shareholders movement rec - do you think i'll loose lots of marks?!?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    Think that is what i should have done - did um and ah for a little while! Am hoping thats only a small percentage of the marks if the rest is ok!! :-(
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    There was no need to deduct any shares as the nominal price of shares issued is always the same. Is there is a difference in shares this would be reflected in the Sare Capital Reserve..
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    oh god I did 10,000,000/0.25 + 40000 but i did balance at the emd hope it doesnt matter!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    I took the interim dividend of £1,600 which was given. I divided it by 4p and times it by 6p. (I grossed it up to £2,400) + added it to the £1,600 to give £4,000 for the year. I'm sure that's right? I got my balance sheet total to balance at £48,887 - does that sound right?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    Thats what I did 8000@25p in share capital and 8000@ 25p in share prem
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    Doesn't the extra amount go into the premium account? <BR><BR>so the amount in the capital account is the shares based on 25p
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    Yeah but what was in the trial balance was in £s so it wasn't actually the amount of shares as they were .25 and .50 each??!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    overall i found the paper to be hard, i wouldnt be surprised to be siiting it again in dec<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    Maybe i got too carried away!!<BR><BR>My BS did balance but then i worked it out using a different dividend and it balances each time as the dividend is within the creditos at the top of the BS and also at the bottom!<BR><BR>Oh yeah - will soon find out (yeah right in 2 months time!!)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    yes i did the same<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Anyone done the same?!?

    I just worked out how many shares there were (£10,000,000/25p) = 40,000,000 shares<BR><BR>and multiplied it by 6p = £2,400,000<BR><BR>I don't know whether that was right though!

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