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Accounting AQA Unit 1 - 17th May 2016

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I definitely got the definition bits right except question 3 was troubling, I messed up the balance of the new cash book, but the rest was fine!
Reply 41
Lucycolt i thought that but it does not say they corrected it , it just says the manager apoligised thats it
Reply 42
Original post by samuel9
How did everyone find it?? It wasn't what i was expecting really..

Yh I expected more defenitions to come up and at least like a balance sheet or something
Which question was about net current assets? It was about the current liabilities I think.
Reply 44
Original post by jenny01
Did you minus the value of current liabilities from current assets to give you the value of net current asset?


Did it ask to find the net current assets :s-smilie:
Original post by ABCD25
Did it ask to find the net current assets :s-smilie:

I really don't remember them asking for that... i didn't do it!
For 3a was I right to put the discount received return cheque etc. On the credit side of the receivable account because they are an income for the receivable person.thanks
Reply 47
Original post by HUSSAIHA15
Which question was about net current assets? It was about the current liabilities I think.


Yh the current liabilities, what enteries did you put. I put Trade Payables, Bank loan, bank overdraft...
For 1 did any1 add the discount received? I didnt,:O
Original post by ABCD25
Yh the current liabilities, what enteries did you put. I put Trade Payables, Bank loan, bank overdraft...


And accruals
Reply 50
Ngl but I ****ed that paper I think. What even was this paper?!
Reply 51
Original post by HUSSAIHA15
And accruals


Oh god, was there accruals. Greeeaaat. Thought there was only prepayment and it was 4 markers as well. So I thought oh it's 3 marks for the 3 entries and 1 mark to get the correct total of the current liabilities
Original post by ABCD25
Oh god, was there accruals. Greeeaaat. Thought there was only prepayment and it was 4 markers as well. So I thought oh it's 3 marks for the 3 entries and 1 mark to get the correct total of the current liabilities


The rent and rates part had one prepayment and one accrual
Original post by callumtr
Ngl but I ****ed that paper I think. What even was this paper?!


Agreed.
Did you only have to find gross pofit?! thats all I did not net profit!!
(edited 7 years ago)
Reply 55
Original post by HUSSAIHA15
The rent and rates part had one prepayment and one accrual



Ah I knew it, missed it. The paper was just too confusing. Hopefully should scrape a C and do better in Unit2 but it's tough
i ticked the first box then I think the third for the second part.
Couldsomeone please confirm that for the first question, the rent and rates part had one accrual and one prepayment? So scared right now:-(
Reply 58
Original post by Summerlight
i ticked the first box then I think the third for the second part.


Yh somewhere along those lines. :u:
Reply 59
Original post by HUSSAIHA15
Couldsomeone please confirm that for the first question, the rent and rates part had one accrual and one prepayment? So scared right now:-(


Yh it was because didn't it say on the 2nd adjustment it was unpaid so I added it, which is an accrual. You're right.

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