The Student Room Group
Competition - post a photo you've taken of nature >>
Competition - post a photo you've taken of nature >>
Competition - post a photo you've taken of nature >>

Accounting AQA Unit 1 - 17th May 2016

Scroll to see replies

Hi evtherevery1 who put the sales on the debit side of the receivable accounts in 3a and the returns in credit. Like the opposite of DEADCLIC. Thank you
Original post by Accounting....
Anyone else get a profit of 49602 and net assets of 50032

Did you add discount received?
Did you add discount received?
Reply 23
Avatar for alhrona
alhrona
9
Original post by samuel9
How did everyone find it?? It wasn't what i was expecting really..


It was alright everything except the 24 marker was easy
Did we do the same paper I can't remember net assets LOL
Reply 25
Avatar for alhrona
alhrona
9
Am i the only one who got a balance brought down of 76*** on sales control acc and 110*** on purchases control acc. And did anyone get the bank reconciliatioon to balance at 1042?
Reply 26
Avatar for jenny01
jenny01
9
Was there profit to be calculated? I thought it was gross profit
Reply 27
Avatar for alhrona
alhrona
9
Gross profit not profit and current liabilitiesnot net assets
Reply 28
Avatar for viddiii
viddiii
Original post by HUSSAIHA15
Did you add discount received?


Did you have to add it ??
Reply 29
Avatar for jenny01
jenny01
9
Did you minus the value of current liabilities from current assets to give you the value of net current asset?
Thought so and I got the Bank rec correct because it should match the last balance on the bank statement which was 1042.
Reply 31
Avatar for jenny01
jenny01
9
Original post by KishanPatel99
Thought so and I got the Bank rec correct because it should match the last balance on the bank statement which was 1042.


Hey how did you do the bank Rec?
I got really confused doing it
I think i got about 1 out of 24 marks on 3a. Guessed most of it! Never seen it in any of the past papers... so annoying. Bank recon was a nightmare too! ...and Unit 1 is supposed to be the easier one..can't wait for Friday...
So you update the cash book with information from the bank statement which wasn't entered in the last accounting period's cash book.
Then if the recordings were on the completed cash book but didn't appear on the bank statement it would be a outstanding lodgement (debit side) or an unrepresented cheque (credit side)
Reply 34
Avatar for LucyColt
LucyColt
I got 1060 for the back rec the closing balance on the original bank statement was 1042 but the bank made a mistake with the cheque so I added the 18 difference
Reply 35
Avatar for jenny01
jenny01
9
Original post by KishanPatel99
So you update the cash book with information from the bank statement which wasn't entered in the last accounting period's cash book.
Then if the recordings were on the completed cash book but didn't appear on the bank statement it would be a outstanding lodgement (debit side) or an unrepresented cheque (credit side)


Hey yeh I did do that but was the balance per cash book the value of balanced of the adjusted cash book
Question 3 Damn! That was the worse one I did compare to the rest!
What did everyone do for 3a? Specifically the Sales?
Original post by jenny01
Hey yeh I did do that but was the balance per cash book the value of balanced of the adjusted cash book

Yeah balance of the adjusted cash book
Reply 39
Avatar for ABCD25
ABCD25
OP
1
Original post by Accounting....
Anyone else get a profit of 49602 and net assets of 50032



Why Net Assets? did it ask to work out the net assets? And I don't think I got that, what did you get for the ticks, where it asked whats the motor expenses and stuff. Just 2 marks but yh

Quick Reply

Related discussions

Latest

Trending

Trending

Articles for you