Section 1

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
<BR>Hi there,<BR><BR>is it right that Sales was 55000, Purchases was 3300 and Capital was 14000??<BR><BR>I got the Total Balance 70390, anybody got the same??<BR><BR>Good luck<BR><BR>

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Section 1

    I got the same!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Section 1

    yep thats wat i got... thou am positive iv failed on section 2 <img src="i/expressions/face-icon-small-sad.gif" border="0">
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Section 1

    42, 000 2,600 and 10,000 because im a stupid idiot <img src="i/expressions/face-icon-small-sad.gif" border="0"> life isnt worth living
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Section 1

    Noooooooo! My TB balanced to £71880. *Runs around panicking*<BR><BR>And I got the balance of profits to be shared after salaries & interest to £20024 - where did the £24.00 come in???(I used 750 for Dan - it did say calulated on balance at the beginning of the year so I assumed it meant for him to received that total amount - after all the previous years interest would have been on the balance at the beginning of that year - i.e. they recieve the interest one year after the money has been in the bank - I ma just tyring to convince myself!)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Section 1

    got exactly the same<BR><BR>good luck at results time
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Section 1

    I got 14335 for my capital.<BR><BR>started with 10k then added 4k for the car and then 1395 prepayment and then took off depreciation for the car for the first year (850) and then I took off 190 expenses for electricity.<BR><BR>And then my trial balance didn't balance so I had to put in £50 in the suspense account. Did anyone else do this?<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Section 1

    I didn't think you put all those things through the capital a/c, I got 14000 capital and i did this:<BR><BR>Prepayment dr prepayment cr suspense a/c<BR>Depreciation dr depreciation expense cr provision depreciation<BR>Accrual for electricity dr electricity cr accrual
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Section 1

    the capital account was the start of my mess up. i got that REALLY wrong like a fool and the exam took a nose dive from then on!!<BR><BR>the goodwill bit at the end was ok though so i suppose i can smile about that.<BR><BR>god i'm a fool!!!!!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Section 1

    <BR><BR>This is Section 1, not Section 2<BR><BR><img src="i/expressions/face-icon-small-smile.gif" border="0"><BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Section 1

    <BR>hey, i dont think we need suspense<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Section 1

    Your right, sorry, I meant expense! Can you tell I'm stressed or do I hide it well...?<BR><BR><img src="i/expressions/face-icon-small-smile.gif" border="0">
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Section 1

    Flick - now you said it i'm sure i got tb £71,880 too! Can't remember balance of profit tho!

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