Anyone who does A LEVEL (AQA) ACCOUNTING- wanna be study buddies?

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Hi I'm currently studying the AS units through ukdlp because my college didnt offer it and would definitely appreciate someone i could study with as i dont have anyone to go to for help- so yeah, id love to be study buddies!

Great. By the way, i'm doing A2 accounts now so i'll definitely be able to help you with AS. You can pm me whenever on here or maybe we can contact each other via Whatsapp, up to you.

brilliant sounds great, i dont have whatsapp or anything similar so i'll just pm you whenever im stuck with something, which will probably be pretty often since im still struggling with unit 1 stuff

cool. What are you on so far?

Just realized that (1) is an error of omission (so doesn't affect the TB balance) hence ignore it- the OB balance should then be 465+95=650.
As for the general journal entry for (1), it should actually be:
Expenses DR 95
Cash CR 95

The question doesn't ask you to do general journal entries but i thought i'd show you them to help you see how you get each entry in the suspense a/c.

hi it's me again, just another quick question. my textbook shows the sales ledger being split into the individual accounts for different people. why exactly is it put in debit when sales would usually be in credit? my guess is because it would be considered an expense for the people named above the accounts but i just wanted to make sure

also i would normally ask my tutor this but he still hasn't responded to my last question which you've already answered :/

The sales ledger is a ledger containing the accounts of debtors to the business. Debtors are assets and asset a/cs have a debit balance, hence why a credit sale for a given customer is entered as a debit in their a/c. Remember the double-entry bookkeeping system used in accounts. For example Jim buys £40 of goods from the business on credit.You would record this transaction in the Sales Day Book (not part of the double entry, just a book of original entry). Now for the actual double-entry: Dr 40 in Jim's a/c in the Sales Ledger and Cr 40 in the sales a/c in the Nominal Ledger (ledger for impersonal a/cs). If it was a credit sales return of £40 of goods instead, you would Cr 40 in Jim's a/c (because less of an asset is a credit) in the Sales Ledger and Dr 40 in the sales a/c in the nominal ledger or sales returns (doesn't matter which).
Note: normally you don't look at the individual balances of each debtor and post it to the sales a/c separately- instead you sum up all the balances from the debtors' a/cs (this is done in the debtors' control a/c) and post to the sales a/c as a total sum in the Nominal ledger.

Ah good I didn't realise it was control accounts I'll have a look over them. I really do appreciate the help as well - so far you've been about two days faster answering than my tutor

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hey im back - hope everything's good with you

just finished covering unit 1 and was wondering if you had any handy exam tips seeing as you did them last year: like how to answer explain questions or common mistakes people make with calculation ones. also if you know of any good places to get example questions that'd be great because im going to run out of past papers pretty quickly

cheers

I just have one exam tip- keep a cool head and think logically, just stick to what you've learnt.
With explaining questions, it's just recalling points really. They're generally straightforward.
For common mistakes made you could have a look at examiner reports.
Doesn't that book you have, have enough questions (i know because i have it and never got to doing even half of the questions for each chapter? :P
And it sounds like you're getting on well. Unit 2 isn't too long. Could get it done in a month comfortably. It's the understanding that takes time. Once you get through that i found myself only needing a couple days to revise the whole of unit 1&2.

I still haven't started working properly on my subjects :/. Should be soon though. From what i'm seeing, you're working way harder than i did so i'm sure you'll get that A (i got A btw).

CHEERSSSSSSSSSSSSSSSSS