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Post Info TOPIC: URGENT - HELP NEEDED! ICB level 3 manual - mock exam Feb 2010 Q5
Lyndsey


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URGENT - HELP NEEDED! ICB level 3 manual - mock exam Feb 2010 Q5
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Hello everyone

I've got my exam tomorrow & have done the mock online (92%) but got stuck on the Q with clubs accounts. I've done the one on the mock Feb 2010 (paper) exam today & cannot get my figures to add up!!! If anyone has the answers to mock it would be greatly appreciated!

I will attach the exam paper, but not sure whether I'm allowed...



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Lyndsey


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I hope I dont get done for copyright, but here is the Q I'm stuck on!

 



Attachments
Level 3 q 5.xs.xps (165.0 kb)
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Lyndsey


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task 1 I get £21,065
Task 2 my loss is £1,705, but when I put this in my BS it doesnt balance - its out by £85. My Fixed assets come to £19,880; Current Asset £675; Current Liabilities £1,110 = Bal £19,445;
but on the capital side 21065 - 1705 = 19360

I've been at this for ages and keep coming to the same figures.

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Lyndsey


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Never mind! Just worked out what I was doing wrong, amazing what dinner can do for you :D I didnt take into account the accruals/prepayments of previous year when working out income/exp



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