AQA Accounting (ACCN1) - 2014

Original post by DC FaNaTiC

37770

That's the same as what I got but what did you get for the balance sheet? I got the top part to 60 thousand and something and the capital to 58thousand and something. I think I didn't adjust my debtors but it still didn't equal the capital section.

Reply 184

Original post by AmyBabee17

That's the same as what I got but what did you get for the balance sheet? I got the top part to 60 thousand and something and the capital to 58thousand and something. I think I didn't adjust my debtors but it still didn't equal the capital section.

Something made the cash into a bank overdraft did you get that?

Reply 185

Original post by judging

I got that for the income statement!
There was one thing on the balance sheet that most people didn't get
It was the non current liabilities which was a bank loan of 6000 but it said HALF is to be paid in the next year and the rest at a later date so is it that half is a current liability and half is a non current liability??
My balance sheet didn't balance though :frown:

Posted from TSR Mobile

Yeah it was 3000 as current liability and 3000 for non current liability. I got the capital to 58 thousand and something which I think was what it was supposed to balance at and 60thousand and something for the top part but I think my trade receivables were wrong but when I corrected it they still didn't balance

Reply 186

Original post by judging

I got that for the income statement!
There was one thing on the balance sheet that most people didn't get
It was the non current liabilities which was a bank loan of 6000 but it said HALF is to be paid in the next year and the rest at a later date so is it that half is a current liability and half is a non current liability??
My balance sheet didn't balance though :frown:

Posted from TSR Mobile

This has no effect on the balancing just means half in CL and half in NCL

Reply 187

Original post by mix97

Something made the cash into a bank overdraft did you get that?

I didn't see anything to make it into an overdraft. Oh I've just realized there were drawings which you deduct from the cash which made a minus..

Reply 188

Original post by AmyBabee17

I didn't see anything to make it into an overdraft. Oh I've just realized there were drawings which you deduct from the cash which made a minus..

That's why yours didn't balance then! Have you got the paper?

Reply 189

Original post by mix97

Balanced at 58100 how about you

I got the 58100 for the capital but 60 thousand for the top part. I think if I had adjusted the cash and took away the drawings to get a bank overdraft then I may have been correct.

Reply 190

Original post by mix97

That's why yours didn't balance then! Have you got the paper?

No I haven't I just remembered there were drawings. Hopefully someone releases unofficial mark scheme or even the questions.

Reply 191

tntn1010

14

Original post by mix97

This has no effect on the balancing just means half in CL and half in NCL

But net assets = non current assets + net current assets - non current liabilities so if you put 6000 in NCL you would've got the wrong net assets figure so it wont balance?

Posted from TSR Mobile

Reply 192

DavidCastelli

Net profit was £37,770 and balance sheet balanced at £58,100

Reply 193

Original post by AmyBabee17

No I haven't I just remembered there were drawings. Hopefully someone releases unofficial mark scheme or even the questions.

Did you use all 8 adjustments on purchases control account?

Reply 194

Original post by judging

But net assets = non current assets + net current assets - non current liabilities so if you put 6000 in NCL you would've got the wrong net assets figure so it wont balance?

Posted from TSR Mobile

I minused the 3000 long term to make it balance

Reply 195