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OCR F011 UNIT 1 ACCOUNTING 17th MAY 2016

error
(edited 7 years ago)
Reply 1
Avatar for AGR3
AGR3
horrific question 2, worded horribly and then a 14 mark written question.
Reply 2
Avatar for usman2105
usman2105
OP
Original post by AGR3
horrific question 2, worded horribly and then a 14 mark written question.

did you balance on question 1 ?
Reply 3
Avatar for KaranG-
KaranG-
Original post by usman2105
did you balance on question 1 ?


I didnt balance mine, it was off by 450. I think i was around 52,000.
Reply 4
Avatar for AGR3
AGR3
Original post by KaranG-
I didnt balance mine, it was off by 450. I think i was around 52,000.

Original post by usman2105
did you balance on question 1 ?




I got Net assets at 50,023

then Capital at 50,032....9 off, so close yet...so far.
(edited 7 years ago)
Reply 5
Avatar for usman2105
usman2105
OP
Original post by AGR3
I got Net assets at 50,023

then Capital at 50,032....9 off, so close yet...so far.


I got 50,032 as total of net assets and capital .. how about Q2 P&L figure ?
Reply 6
Avatar for KaranG-
KaranG-
Original post by AGR3
I got Net assets at 50,023

then Capital at 50,032....9 off, so close yet...so far.


Although the question 2a was confusing i did find the theory questions easy. The business entity concept and going concern, also the discounts allowed, discounts received and trade discounts were all easy.
Reply 7
Avatar for AGR3
AGR3
Original post by KaranG-
Although the question 2a was confusing i did find the theory questions easy. The business entity concept and going concern, also the discounts allowed, discounts received and trade discounts were all easy.


In terms of written content they were easy, but it's the fact that after 2 relatively complex questions in terms of adjustments we have to write for 14 marks :frown:
Reply 8
Avatar for KaranG-
KaranG-
Original post by AGR3
In terms of written content they were easy, but it's the fact that after 2 relatively complex questions in terms of adjustments we have to write for 14 marks :frown:


It was the hardest f011 paper ive done, hopefully i pass with a good grade. The wording of the adjustment were different compared to past papers.
Reply 9
Avatar for AGR3
AGR3
Original post by usman2105
I got 50,032 as total of net assets and capital .. how about Q2 P&L figure ?


Where's my £9 gone...probably a miss-read on my calculator.

Can't remember Q2 answer, it was around £15,000 something. I had the payments for rent at like 4,500 4,650 4,950 and 1,650 prepaid? I think..
Reply 10
Avatar for AGR3
AGR3
Original post by KaranG-
It was the hardest f011 paper ive done, hopefully i pass with a good grade. The wording of the adjustment were different compared to past papers.


I said literally the exact the same thing. So many adjustments required much more concentration than past exams because of the wording and having to constantly be aware of multiple dates, months and years. The dates were just all over the place it confused me.
(edited 7 years ago)
Reply 11
Avatar for Pinaaksl
Pinaaksl
I got net assets 50832 and mine balanced
Reply 12
Avatar for minh249
minh249
Hi. Is there anyone remembers that Q2 is discount allowed, discount received and trade discount or cash discount? I think it's cash discount but my friend said it's trade discount
(edited 7 years ago)
Reply 13
Avatar for AGR3
AGR3
Original post by minh249
Hi. Is there anyone remembers that Q2 is discount allowed, discount received and trade discount or cash discount? I think it's cash discount but my friend said it's trade discount


It was discounts allowed, received and trade discounts. They wouldn't have asked what a cash discount is because that was what the 1st two were.
Reply 14
Avatar for s011837
s011837
Original post by AGR3
It was discounts allowed, received and trade discounts. They wouldn't have asked what a cash discount is because that was what the 1st two were.


How did you guys find unit 2 ?
I thought it was easier than some past papers, what figure did you balance at for the incomplete records for the sole trader? i got about £52300
Reply 15
Avatar for AGR3
AGR3
Original post by s011837
How did you guys find unit 2 ?
I thought it was easier than some past papers, what figure did you balance at for the incomplete records for the sole trader? i got about £52300


I was a re-sitter doing unit 1 only so I didn't see unit 2 paper, sorry :P

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