Aqa accounting unit 3 and 4 June 2016

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Four things that unis think matter more than league tables 08-12-2016
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    Any predictions for tomorrows exam?
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    Hoping for Schedule of NCA as it hasn't been on the past 2 years
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    A written question on IAS could possibly come up
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    why does different inventory valuation methods such as FIFO and AVCO produce different profit figures in the short term?
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    Because Fifo values inventory at cost value and assumes that the first inventory bought , will be the first sold.On the other hand avco averages the inventory cost by the amount of units held therefore the inventory valuation will be different which will make profit different in the short term
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    (Original post by DanAgye96)
    Because Fifo values inventory at cost value and assumes that the first inventory bought , will be the first sold.On the other hand avco averages the inventory cost by the amount of units held therefore the inventory valuation will be different which will make profit different in the short term
    thanks
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    if there a loan entry on your capital account do you put it also in your bank account ?
    I put TP and dissolution cost on credit bank
    Do I have to put a loan on there?
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    if the partner's loan is repaid you will credit the bank/cash account
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    How'd everyone find it, I thought it was horrible 😔
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    Yeah that was harder than I thought 😬. For the incomplete records question did anybody get £13075 for general expenses
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    Omg I found it TERRIBLY HARD!!!! Even didn't finish the last question before the end
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    Yeah I got that, not sure it's right though
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    (Original post by Nznsansn)
    Yeah that was harder than I thought 😬. For the incomplete records question did anybody get £13075 for general expenses
    Got this as well!
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    Omg that paper was so hard compared with any other years! I usually finish within an hour but spent so long on incomplete eecords question I didnt get to finish the last question.
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    (Original post by flamigos123)
    Omg that paper was so hard compared with any other years! I usually finish within an hour but spent so long on incomplete eecords question I didnt get to finish the last question.
    Found this paper exactly the same. Was easing through past papers but absolutely bombed this paper.
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    Q1 was easy. Probably got full marks. It was out of 20? Incomplete records... Disgusting. It was out of 22 right? I think I got about 13.... Q3: DID NOT want this topic to come up. It was 7, 9, 3? probably got 8. Q4: Learnt the layout and it was already written down! I got a negative total at the end. Anyone else? Then that 15 mark written was ok. But I probably got about 10. So thats 53... E-C
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    (Original post by Nznsansn)
    Yeah that was harder than I thought 😬. For the incomplete records question did anybody get £13075 for general expenses
    I think I got 12025 can you remember what your stolen goods/cash were?
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    anyone get negative 7095 for cashflow statement ?
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    Did anyone get a positive cash flow?
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    What did you guys get for sales and total expense and profit for incomplete records?
 
 
 
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