Help!!!!

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Can anyone help me with these supplementary questions?<BR><BR><BR>Prepare a memorandum to be sent in which you outline possible improvements in the way an organisation might maintain its capital records?<BR><BR><BR><BR>Your books show the following balances at the year end ( 31st March 05 )<BR>You are to show show journal entries and narratives, to close off the accounts in preparation for the tranfer ob balances to the final accounts.<BR><BR>Purchases a/c £62,385 Dr<BR><BR>Sales a/c £118,097 Cr<BR><BR>Stock a/c £12,555 Dr<BR><BR>Discounts Recieved a/c £608 Cr<BR><BR><BR><BR><BR><BR><BR>Many Thanks

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Help!!!!

    Hi<BR><BR>For the memo I would talk about setting up a Fixed Asset Register and the type of information you would keep on one and why it would be useful.<BR><BR>For the second question, you would debit or credit the relevant accounts with their year end sums and then debit or credit P&L with the total to close them off for the year end, ie for the first one.<BR><BR>Dr P&L £62,385<BR> Cr Purchases Account £62,385.<BR><BR>Hope this helps.<BR><BR>Susan<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Help!!!!

    Thank you Susan, this has helped loads.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Help!!!!

    Hi, We have just completed this one at college and basically you should talk about the FA Register, the information that it holds and state what measures you would take to ensure that people don't walk off with the more attractive items, i.e. laptops, computers etc. You should just ensure that these items are signed for when taken out and signed in again when returned by a more senior person in the office. At least that's what we all said, and we passed it!<BR><BR>Hope this helps!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Help!!!!

    Thanks Su3anne

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