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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!
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    Lucycolt i thought that but it does not say they corrected it , it just says the manager apoligised thats it
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    (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
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    Which question was about net current assets? It was about the current liabilities I think.
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    (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
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    (Original post by ABCD25)
    Did it ask to find the net current assets
    I really don't remember them asking for that... i didn't do it!
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    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
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    (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...
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    For 1 did any1 add the discount received? I didnt,:O
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    (Original post by ABCD25)
    Yh the current liabilities, what enteries did you put. I put Trade Payables, Bank loan, bank overdraft...
    And accruals
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    Ngl but I ****ed that paper I think. What even was this paper?!
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    (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
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    (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
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    (Original post by callumtr)
    Ngl but I ****ed that paper I think. What even was this paper?!
    Agreed.
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    Did you only have to find gross pofit?! thats all I did not net profit!!
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    (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
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    i ticked the first box then I think the third for the second part.
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    Couldsomeone please confirm that for the first question, the rent and rates part had one accrual and one prepayment? So scared right now:-(
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    (Original post by Summerlight)
    i ticked the first box then I think the third for the second part.
    Yh somewhere along those lines.
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    (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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