Accounting AQA Unit 1 - 16th May 2017

Original post by star_2000

1 a- cashbook (5)
** b- sales ledger (3)
** c- purchases ledger (3)
2- trade discount (1)
** - cash discount (1)
** - difference (3)
3 a- income statement (14)
** b- bad debt treatment (8)
** c- balance sheet (17)
4 prepaid & accrued account (9)
5 a- journal entries (11)
** b-effect of correction on profit (5)
I think it was this

Was 2c not 4 marks?
Idk i could be wrong

And 3b what was the answer? :curious:

Reply 86

Original post by leor

But in the question they said narratives are not required. So you won't lose mark if you put right number in debit and credit. I think

When it says narratives it means explaining what you are doing, the titles will need to be correct (what you're debiting and crediting)

Reply 87

Original post by BintM

Didnt get the balance sheet to balance 😡
Realised property was there 5 minutes before the end...it was a literal mess
The rest of the paper was alright, could have had a better paper though. How did you find it?

my balance sheet was out by £60 then i found my error and got it to balance so happy!!

at first i was like wtf is this **** and then when i was doing it i was like nevermind this is a good paper

Reply 88

scienceconfused

1

What do you guys think the grade boundaries will be like? Last year it was 60 to get A but I think it will be higher this year :/

Reply 89

Original post by Nl_Chandler

As a second year resitting, I found it pretty good paper, thankfully no horrible written Qs this year; what did people get for the last multiple choice on the sale invoice in purchase returns? Wasn't sure on that and put no change to profit.

i wrote no change as well because you
dr purchase returns
cr sales (or the other way round can't remember lol)

and a dr decreases profit and a cr increases profit so the net effect is 0

Reply 90

qwerty19991

did anyone get 217714 or something similar for Net assets

Reply 91

Original post by jakebonnington

my balance sheet was out by £60 then i found my error and got it to balance so happy!!

at first i was like wtf is this **** and then when i was doing it i was like nevermind this is a good paper

Well doneee man that balance sheet was really getting on my nerves. What was the balancing figure?
Yeah at first i thought the paper was horrible but I managed to do it all except for the balance sheet :colonhash:

Reply 92

Original post by adam67065

It was decent you know
My balance sheet didnt balance and wtf were trade discounts and cash discounts.
Other than that all good.

i put that a cash discount is to encourage prompt payment and a trade discount is for bulk buying but idk if that's right? that was the one question i didn't know

Reply 93

qwerty19991

did anyone get 217714 or something similar for Net assets. And what was the Net profit for the income statement.

Reply 94

Original post by qwerty19991

what did you get for the Net assest for the balance sheet

i got 454,883 not sure on the last 3 figures but definitely 454,000

Reply 95

Original post by qwerty19991

did anyone get 217714 or something similar for Net assets. And what was the Net profit for the income statement.

i got 454,883 for net assets and 217,000 and something for net profit

Reply 96

Original post by BintM

Well doneee man that balance sheet was really getting on my nerves. What was the balancing figure?
Yeah at first i thought the paper was horrible but I managed to do it all except for the balance sheet :colonhash:

£454,883 i think

think i ****ed up the last one though as i got 3 no change and everyone else has got less than that :s-smilie:

Reply 97

hsjgdjgjkwjglk

did you get 16000 to the income statement for the double entry book keeping question

Reply 98