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Because you know if not everything at least 99%, I am asking for help. Again. )
You do not have to help but I hope you will. I have huge problem with cash management tasks.
so. Company pays its suppliers on the bases 25% one month after the date of purchase, 40% after 2 months and 35% after 3 months.
balance for period 1 - 30135
per 2 - 66900
per 3 - 92400
Identify the value of trade payables at the end of period 4 that will be paid periods 4 and 5
answers: per 4 - 88915
per 5 - 68180
P.s. I have no problem with math. aat tasks are weird..October 31
I am happy to help!! I actually struggled with this question too, and it takes quite a bit of time to work through.
I am going to try and tell you how I work it out in the simplest way! It's a lot simpler if you are doodling on some paper to work this out. There are 2 steps to follow:
Step 1: work out the balance remaining from the above. You want to work this out based on what the % of the balance is at the END of period 3 - rolling over to period 4!! Work out what has already been paid, and what hasn't.
Purchases period 1 --> 25% will have already been paid in period 2, and 40% will have already been paid in period 3. Balance left which still needs to be paid in period 4 is 35%.
Purchases period 2 --> 25% will have already been paid in period 3 - this leaves 75% which still needs to be paid.
Purchases period 3 --> None of this has been paid - so the full 100% of the balance is outstanding.
Once you have worked out the balance left, you need to turn it in a figure. To get the figure, you need to do 100% / BAL LEFT % * BAL LEFT IN £ (from questions)
FOR EXAMPLE TOTAL PURCHASES FROM PERIOD 1 = 100% / 35% * £30135 = £86100
PERIOD 2 PURCHASES = 100% / 75% * £66900 = £89200
PERIOD 3 PURCHASES = £92400 (as none of the balance has been paid)
Step 2: work out the schedule of what needs to be paid, and when.
Purchases from period 1 will be paid in the following period:
2) 25% of £86100 (paid, so no need to do anything for this period)
3) 40% of £86100 (paid, so no need to do anything for this period)
4) 35% of £86100 (UNPAID)
Purchases from period 2:
3) 25% of £89200 (paid, so no need to do anything for this period)
4) 40% of £89200 (UNPAID)
5) 35% of £89200 (UNPAID)
Purchases from period 3:
4) 25% of £92400 (UNPAID)
5) 40% of £92400 (UNPAID)
Put in the figures worked out in step 1, to work out the payable at the end of period 4 and 5:
Period 4 =
Purchases period 1 - £86100*35% = £30135
Purchase period 2 - £89200*40% = £35680
Purchases period 3 - £92400*25% = £23100
TOTAL PAYABLE'S AT PERIOD 4 = £88915
I have worked out period 4 for you, and hopefully with this method you can work out period 5?
I know it was really long, but it is hard to explain when typing!! If I can attach a picture of my workings on paper I will!
If you don't quite understand, let me know and I will try and help you again :)
rvs29It wouldn't let me upload a picture (but this is how I would structure it on paper)
step 1 :
bal remaining at start of period 4
purchases 1 2 3 4 5
1 25% 40% 35%
2 25% 75%
step 2 : schedule of payments
purchases 1 2 3 4 5
1 25% 40% 35%
2 25% 40% 35%
3 25% 40%
Hello. I see you know everthing about aat.
I need help. I posted the quetsion in the morning, but somehow its not posted.
So here is my problem task.
Please resolve it, if you can.
There is sample assesment with no logical result. The 1st sample assesment under Cash management, Level 4. So..
Per 1 - 8200 Units
Per 2 - 8500
Per 3 - 8800
Per 4 - 6100
Per 5 - 5400
Sales price 30$/unit
They receive 30% 1 month after sales and 70% after 2 months after sales.
15% of sales are received in cash. The rest - on credit bases.
What are total sales receipts for period 4 and 5???
Per 4 - 246495
Per 5 - 228045October 25
hi I hope your well and don't mind me messaging u I red your post about u have outstanding exams, I have four exams outstanding I have booked two exams next week I booked them two weeks ago I have struggling but I do want to complete the course by the end of the year the exams I have booked next week are financial statements and credit control any tips? also then I need to book financial performance and cash management I haven't even opened my books since last year when I was studying at college now I have my notes when I attended but I am clueless I don't know where to start from.
many thanks,October 20
rvs29Hi @Sarah91 I'm well I hope you are too.
Are you sitting both FSTM and CRDC next week? I would say these are the easiest 2 (although, I haven't had my CRDC exam result back yet). I would definitely say use the green lights tests and practice exams on the AAT website, these are very good and very similar to the real exams.
I would then take your FPFM but allow yourself some time to study, don't rush. I passed this 2nd time, but maybe I didn't have enough study time.
I would look at the latest exam dates possible before 31 December for FPFM and CSHM, to allow yourself maximum time possible to study.
I can't really give any tips on CSHM as unfortunately am retaking this in November. I found the studying easy, and passed all of the practice exams, but the real exam was nothing like the practice examples, and was very different overall.
Have you done the ISYS project? If you haven't then my advice would be to take your time, do what you can before Christmas, and map the rest of your units over to AQ2016, as the ISYS project doesn't map over and may be wasted.
To be honest, I could do with some tips as well on CHSM haha, but happy to give you any advice that I can.
I'm sure you will be fine as long as you use all of the resources that have been provided by AAT and your provider!!
Hope some of this helps!
If there is anything else I can do or help with just let me know :)