accounts prep 2

clarlou76

i keep failing on this exam. am a bit confused when it comes to doing the balance sheet as they have put a sundry income on it and i am not sure what i am supposed to put in for this. can anyone help??

Bluewednesday

Not quite sure what you mean, sundry income would go in the profit and loss account (or income statement) not the balance sheet

clarlou76

what classes as sundry income though??

Bluewednesday

One of the things we put in sundry income was the online filing refund that businesses got until recently, it wasn't as a result of trade so went in as sundry income

Sammmy88

I have the exact same problem. I have failed twice already and going to book it for the third time soon! I have he sundry income question too and it threw me! I'd like to know what they mean by this too!

ajm

Do you mean an income statement like Task 2.1 on the second practice exam? In this question the sundry income is discounts received.

Sammmy88

No, the question was to put the details into an income statement but just like discounts received etc, there was one saying sundry income, that you have to slot into the income statement. If that makes sense. Lol

ajm

Oh, I'm not sure then, hope it doesn't come up in my exam!