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AQA Accounting Unit 2 - 22nd May

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I got 141,140 for the income statement

Posted from TSR Mobile

I got £135,740 - £5,400 different - I think this is from the provision for doubtful debts? You weren't meant to take the £5,400 away from expenses, just add the increase in the provision on!

Reply 201

Khurram08

The paper was relatively good. Apart from the income statement-hopefully I got most adjustments right

Reply 202

Khurram08

Original post by tom_elsey

I got £135,740 - £5,400 different - I think this is from the provision for doubtful debts? You weren't meant to take the £5,400 away from expenses, just add the increase in the provision on!

Yh they were contained I'm operating expenses so you were meant to take it away

Reply 203

Brandon_RNS

Original post by Economist21

Got exactly the same

Ahhhh haha, put my mind at ease.

What did you get in Unit 1 so i can trust you :tongue:

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Reply 204

Infamous12

Original post by tom_elsey

I got £135,740 - £5,400 different - I think this is from the provision for doubtful debts? You weren't meant to take the £5,400 away from expenses, just add the increase in the provision on!

yh i just added the increase in provision to operating expenses. it was £720 or something.

Reply 205

Brandon_RNS

Original post by tom_elsey

I got £135,740 - £5,400 different - I think this is from the provision for doubtful debts? You weren't meant to take the £5,400 away from expenses, just add the increase in the provision on!

You were supposed to, it said in the adjustment, that it was last years provision included not this year trust me i went over this one twice. You are supposed to work out the provision separately

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Reply 206

Brandon_RNS

Original post by Infamous12

yh i just added the increase in provision to operating expenses. it was £720 or something.

Yeah 720 increase

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Reply 207

sunny_bunny

Original post by anna21

How about income statement ?
I cant remember exact figure but .
Revenue - 8400
cost of sales + 4100
rent received + 12000
expenses - 5400 + 720
director r - 38000
loss on sales 3000
less 6% debenture 36000
less tax 38000

I got something like that

Reply 208

Infamous12

Original post by Brandon_RNS

Yeah 720 increase

Posted from TSR Mobile

I literally just added the 720 to the original operating expenses figure. I was thinking about deducting the £5400 but i was running out of time. How many marks lost would you say that is?

Reply 209

tom_elsey

Original post by Brandon_RNS

Ahh I get it now, should only be 1-2 marks lost, think I did well on the rest of the paper to make up for it :biggrin:

Reply 210

Brandon_RNS

Original post by Infamous12

I literally just added the 720 to the original operating expenses figure. I was thinking about deducting the £5400 but i was running out of time. How many marks lost would you say that is?

Not much mate maybe 3 considering the other adjustments dont worry about it

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Reply 211

anna21

Original post by Infamous12

I literally just added the 720 to the original operating expenses figure. I was thinking about deducting the £5400 but i was running out of time. How many marks lost would you say that is?

27 marks in total . if you working out they will not lose lots of mark .

Reply 212

anna21

Question 2 about capital and revenue expenditure . How did you guys do ?

Reply 213

Brandon_RNS

Original post by anna21

Question 2 about capital and revenue expenditure . How did you guys do ?

Included everything except the last one about some annual payment in the cost of the asset

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Reply 214

guyb121

I think I did question's 1, 2 & 4 quite well but I messed up the 15 marker on Q3. Literally was begging for a question about Share's or a question about Equity but they didn't come up :frown:

I did 3 past paper's before I went in and got exactly the same mark (70/80) in all of them plus I got 93% in Unit 1 so I was feeling quite good about it but now I feel kinda depressed

I got £183040 for Q4, Did anyone get that or something similar?

Reply 215

Infamous12

Original post by Brandon_RNS

Included everything except the last one about some annual payment in the cost of the asset

Posted from TSR Mobile

Yeah cost of vehicle plus the first two. The last one was revenue expenditure so i didnt include it. Do you remember what you got for depreciation?

Reply 216

anna21

Original post by Brandon_RNS

Included everything except the last one about some annual payment in the cost of the asset

Posted from TSR Mobile

yes , i got wrong , i add all of these :smile:

) and so my depreciation and profit as well.

Reply 217

afzal123

Original post by anna21

yes , i got wrong , i add all of these :smile:

) and so my depreciation and profit as well.

You had to add the first two but not the last one as it was revenue expenditure

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Reply 218

Jabz257

Original post by Tom Richardson

For the profit I reduced it by £43700. £35000 for the wages then £4350 x 6 then depreciated it which equalled £8700 for the laptops because there were 6 staff which needed a laptop

Why would you multiply 4350 by 6 when the total cost of the computers was 4350 and that cost would go into the balance sheet as a current asset. The only effect would be he depreciation of the laptops in the income statement?

Reply 219

Jabz257

What did you guys get for the rent part in the IS, because in the notes it said 12000 annual rent but on the draft I think it was 13200, I just assumed they received a prepayment of income of 1200, and under other incomes I just wrote rent is 13200, is that wrong?