AQA Accounting ACCN3 and ACCN4- June 2017

Question 1 was OK but it took me ages to get my head around.
Schedule of NCA wasn't awful and to me that was the hardest concept to get my head around when I was revising.
But WTF was with the capital accounts?? I had no idea what to go with goodwill - I initially put it in as normal with brackets and then I took it out completely after it said that goodwill shouldn't be in the accounts - regretting this decision now.

Gutted as I need an A to get into Uni.
Hopefully ACCN4 is better.

Reply 181

alhrona

9

Original post by axc5

Which paper do you guys generally find easier?
ACCN3 or ACCN4?

100% ACCN4 , so much easier to learn

Reply 182

alhrona

9

Original post by EmmaBowdenx

Question 1 was OK but it took me ages to get my head around.
Schedule of NCA wasn't awful and to me that was the hardest concept to get my head around when I was revising.
But WTF was with the capital accounts?? I had no idea what to go with goodwill - I initially put it in as normal with brackets and then I took it out completely after it said that goodwill shouldn't be in the accounts - regretting this decision now.

Gutted as I need an A to get into Uni.
Hopefully ACCN4 is better.

When it says it not in the books of accounts you put it in the capital account , if it's in he book of accounts it goes in non current assets as a intangible assets

Reply 183

asdfghjkldude

2

Original post by axc5

Which paper do you guys generally find easier?
ACCN3 or ACCN4?

ACCN3 because I hate the theory in ACCN4

Reply 184

Mallon

1

I don't think that could of went much worse

Reply 185

Archie69

For the capital account were we expect to do it for all partners or just the one retiring?

Reply 186

GGHarambe

7

Original post by Archie69

For the capital account were we expect to do it for all partners or just the one retiring?

I did all, but I hate how they give a layout for all the questions but that one

Reply 187

hollykos

1

GUYS! because the partnership doesn't use current accounts, were you meant to put things such as salary, interest on capital, and share of profits in to the capital account????

Reply 188

scienceconfused

1

This paper couldn't of gone worse for me! I panicked and screwed up the first question and partnership one. Plus I need a A for uni!! Ahhh! I got A and B in AS but if I got a low C/ D and work really hard for unit 4? Do you think it might average to B? Hoping grade boundaries are low this year :/

Reply 189

huilamtang

Original post by HUSSAIHA15

For the net book values I got 788900, 160500, 25492.8

Posted from TSR Mobile

I got the same. But it shouldn't be a decimal. My teacher said always said that it will not be a decimal answer in the exam. Sigh.. wish the ans is a decimal

Reply 190

jakebonnington

5

Original post by HUSSAIHA15

For the net book values I got 788900, 160500, 25492.8

Posted from TSR Mobile

i didn't get decimals but i'm pretty sure i ****ed it up somehow

Reply 191

KristersDK

6

Original post by huilamtang

I got the same. But it shouldn't be a decimal. My teacher said always said that it will not be a decimal answer in the exam. Sigh.. wish the ans is a decimal

Why would it not be a decimal in an exam? Plenty of past papers have had decimals.

Reply 192

Tacs

2

For the Trade receivable and trade payables on question 1b did you have to put closing inventory

Reply 193

Tacs

2

Original post by Marcusking

For the schedule of non current assets, the middle column for the remaining useful life I got 38 years and a long ass decimal but when I worked it out, it worked perfectly for the figure is that right?

I don't think it would be 38 years it didn't say how long they was in the bussines for

Reply 194

haroon.shabir

3

Well that paper was shocking, I've already got my excuses lined up
•Fasting during the exam
•3 hours sleep the night before
•9 hours sleep in 2 days
•Worst of all, the exam room wasn't even silent, all I could hear was high school kids screaming and shouting not as if that person will shout me 'why accounting records need to be done'

Reply 195

callum 99

1

Original post by hollykos

GUYS! because the partnership doesn't use current accounts, were you meant to put things such as salary, interest on capital, and share of profits in to the capital account????

That's what I did, but I ****ED that paper so bad, didn't even do question 1 because I was panicking so I can't promise it's correct

Reply 196

username2052983

OP

19

Original post by haroon.shabir

Well that paper was shocking, I've already got my excuses lined up
•Fasting during the exam
•3 hours sleep the night before
•9 hours sleep in 2 days
•Worst of all, the exam room wasn't even silent, all I could hear was high school kids screaming and shouting not as if that person will shout me 'why accounting records need to be done'

Same. Had a headache and the first question made it 10x worse.
Lets just pray that accn4 is some sort of miracle.

Reply 197

Johno8278

Just to check how did u do the first question?
I did gross profit /25 x 100 to get cogs
Then cogs /10 to get average inventory
Then opening inventory - average inventory x 2 . to get the difference then
Opening inventory plus difference to get closing inventory
Then I added drawing, returns out and closing inventory to cogs and then took away opening inventory to get purchases .
Second question I took cash sale away from the sales figure I worked out (gross plus cogs) to get credit sales placed it into trade receivables t account balanced smashed it into current asset . attempted to do the same with trade payable but my mind went blank for some reason idk why but I thought my purchases on credit was too big compared to bank so the brought down would be on the wrong side . my calculations where right just I was being stupid so I left it out . I think that was how u where meant to do the first two questions I messed everything else up in the paper like the NCA register .