TreeOfKnowledge
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#21
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#21
(Original post by Putch1)
O.o Woah, finally a thread for this exam. I just have a question guys.

Is the narrative 'bal b/d' acceptable? We don't have to bring down balances right?
You can't just have 'bal b/d' It needs figures, e.g
'Bal c/d 785'
'Bal b/d 785'
You need the figures with the balance brought / carried forwards.

(Original post by aran0909)
also what did u guys put for cash discounts?
'Cash discounts do not reduce the price of goods, but reduce the amount to be paid. Offered to customers in return for quick receipt of payment for the goods eg 1% reduction for payment in 7 days' - I then went onto to explain the double entry of discount allowed / recieved.
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star57
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#22
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Please could you give a breakdown of the marks? How much the numbers bit was worth and how much the written bit was worth?
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TreeOfKnowledge
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#23
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#23
(Original post by star57)
Please could you give a breakdown of the marks? How much the numbers bit was worth and how much the written bit was worth?


Trading Profit and Loss A/C 22 marks
Balance Sheet 20 marks
QWC 2 marks
(44 marks)

Schedule of Debtors / Ledgers / Extracts etc
12 marks

Trade & Cash discounts
12 marks

Written question on debt policy
12 marks


So 56/80 raw marks are numeric questions
- That's all from memory though, if you want me to be more specific on the topics just ask. I'm sure if I got that wrong some other members will chip in
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Putch1
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#24
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#24
(Original post by TreeOfKnowledge)
You can't just have 'bal b/d' It needs figures, e.g
'Bal c/d 785'
'Bal b/d 785'
You need the figures with the balance brought / carried forwards.


'Cash discounts do not reduce the price of goods, but reduce the amount to be paid. Offered to customers in return for quick receipt of payment for the goods eg 1% reduction for payment in 7 days' - I then went onto to explain the double entry of discount allowed / recieved.
Phew! Yeah i did write 'bal b/d' and 'bal c/d' with numbers ^_^

Does anyone think the trading and profit and loss account and the balance sheet, was easier than the past papers?

I never got the idea of working boxes because i didn't have time to show my full workings. :L
I mean if the balance sheet balances, you don't need to show full workings to get full marks?
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TreeOfKnowledge
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#25
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#25
(Original post by Putch1)
Phew! Yeah i did write 'bal b/d' and 'bal c/d' with numbers ^_^

Does anyone think the trading and profit and loss account and the balance sheet, was easier than the past papers?

I never got the idea of working boxes because i didn't have time to show my full workings. :L
I mean if the balance sheet balances, you don't need to show full workings to get full marks?
I agree with you, I've never used the workings box. It wastes time and dosn't give you any extra marks, if you're right, you're right and visa versa. I used my workings box for the other questions, but never the T + PL / BS.

Yeah, this paper was a breeze in comparison to past papers. However there were more marks on the written questions than in previous years. :/
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Putch1
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#26
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#26
(Original post by TreeOfKnowledge)
I agree with you, I've never used the workings box. It wastes time and dosn't give you any extra marks, if you're right, you're right and visa versa. I used my workings box for the other questions, but never the T + PL / BS.

Yeah, this paper was a breeze in comparison to past papers. However there were more marks on the written questions than in previous years. :/
Agreed. 24 marks on theory with topics on cash discount and trade discount, that has never been asked before. (Well, they asked in the old spec but not in great detail). Luckily i memorised.
Maybe a lot of people will lose marks on this. Lets hope so

It's all about the grade boundaries.
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TreeOfKnowledge
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#27
(Original post by Putch1)
Agreed. 24 marks on theory with topics on cash discount and trade discount, that has never been asked before. Luckily i memorised.
Maybe a lot of people will lose marks on this. Lets hope so

It's all about the grade boundaries.
Haha yup, as bad as it sounds, I agree. Best of luck everyone.
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star57
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#28
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#28
(Original post by TreeOfKnowledge)
Trading Profit and Loss A/C 22 marks
Balance Sheet 20 marks
QWC 2 marks
(44 marks)

Schedule of Debtors / Ledgers / Extracts etc
12 marks

Trade & Cash discounts
12 marks

Written question on debt policy
12 marks


So 56/80 raw marks are numeric questions
- That's all from memory though, if you want me to be more specific on the topics just ask. I'm sure if I got that wrong some other members will chip in

Thanks I think I should have got all (or nearly all) of the numbers marks, but I'm just not so sure about the writing sections!
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star57
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#29
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Do you know what sort of grade boundaries there will be? I really want an A!!!
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Putch1
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#30
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(Original post by star57)
Do you know what sort of grade boundaries there will be? I really want an A!!!
I would probably go with 65
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UMK
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#31
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Who balanced at 209,850?
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A.A.T.
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#32
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Learn Accounting From Prof. Accounting

Video podcasts with tips, approaches and essential content in learning Accounting.

http://www.youtube.com/user/profaccounting
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