Originally posted by Jordao Miguel da mata in this thread http://forum.bookkeepers.network/t63935257/iab-or-aat/
Moved by moderator due to lack of consistency with the original flow of that thread.
Hi,Iâm on the IAB 1 level,and I will have my 3th curse day next week.can some one help me to solve this t account problem?auto fix repair a vehicle for a taxi firm and charged £500 for the work,auto fix invoice the taxi firm (a2b taxis)with the repairs and gave 7 days in which to pay the invoice.wen repairing the taxi auto fix used parts from his stock of parts which had cost him £200,and made a profit of £300 on the job. Can someone help ;) Many thanks Jordao
This was responded to by Joanne with (used your favorite colour hun, hope you approve) :
I would suggest you have a go at the question and post the answer you think it might be, at which time some one can confirm if you are right or point you in the right direction. Best way to learn, and the way we usually suggest for students.
We also ask students to add a Jpeg picture or pdf of the question, because often they are mis-typed or mis-interpreted when added to the forum, which just means we all waste quite a bit of time on them. To do this go into advanced editor in the box you type in and then you can attach a file.
Thanks
Or not! 'Curse' day - surely the course isnt that bad!
Ok, people. Open season (joke! play nice, he's a newbie).
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
the question is quite basic, nothing against you here, we've all had difficulties along the way. But the issue is that if you are having difficulty with this are you sure that the learning medium that you are using is right for you?
Could I perhaps suggest that if you are having difficulty with the study materials try an alternative such as "Business accounts" by David Cox or perhaps "Book-keeping and accounts" by Frank Wood and Shiela Robertson?
Both books are well proven introductory texts.
That aside, if you need help and providing that this is not a real test that you are doing then as Joanne requests, please post the question in original form so that the site members are able to not simply help you with the answer but rather help you understand the concept of what you are attempting to achieve.
An important element of that is going to be helping us undertstand what sort of format response the question is looking for... I asssume T accounts but we need your input on this.
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Hi Shaun Lol on the pink! FYI - fave colours are purple and red! I cant get a real purple of here and the closes isnot so clear (even in bold!) Red - looks angry. Or like Im a school teacher (which would mean I would HAVE to bemoan all the prep work that needs doing during the holidays and ignore the fact that I get so many more holidays than everyone else regardless). I hate green, although the rebel in me does have a pile of green pens, just because I can (never allowed to use them in my old job as that was the audit/inspection, die if you do use it colour).
Somehow Im guessing Jodao has answered his/her own question....or cannot now find the original post
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
the questions really confused which prompted Joanne to suggest that the poster posts the original question, and me to suggest that they may need to take a step back and if the training materials are not working for them then try these better ones.
The questions mixed up but the basic premise is bookkeeping training basics (maybe not page one but I suspect chapter one type stuff) of how to account for profit on a sale. Takes me back some years to when I first started studying and the first accounting for profit and use of stock in T accounts. Fun times when every question started with a brand new business and getting to a balance was like doing a sudoku... Really goes downhill when you do it in the real world doesn't it. lol.
There's no point attempting to answer or even help with this one until the poster attaches a copy of the original question as, as you indicate, the questions a bit mixed up which sort of gives a clue that the poster may be having some difficulty understanding the question themselves let alone the concepts behind it.
I think that it really would be to their advantage to ask the question again, with attachments as they've potentially got at least three people here who can explain things in a manner that they would understand.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
