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Level 3 Practice Past Paper June 09

Macksie
  • Member
  • Practice Licence
  • 31 posts
  • # 73870

Hi please can someone help me with this I think I am going insane!

Question 3 of this paper asks you to glean totals from incomplete records to construct the P&L and balance sheet.  I have managed this but my sales control account is £100 different to what the answer tells me it should be and I can't work out why? Or am I missing the obvious (probably!)

Balance bd (previous year balance) = 7500
REceipts in bank for credit sales = 44100
Cash Sales = 163500
Balance carried down = 8950

(there are no other figures which relate to the sales and one figure of £100 is for an insurance accrual for last year) 

So to find the missing sales figure add together the receipts cash sales and balance cd and minus the balance bd from previous year = 209050.

However answer states it as 209150??

Is my calculater playing tricks on me?!
Peasie
  • Member PM.Dip
  • Practice Licence
  • 481 posts
  • # 73871

I got this one wrong as well. After a lot of swearing, pens being snapped and calculators thrown across the room I think I decided that as the cash had increased from £150 to £250 then not all of the cash sales were paid into the bank and the cash sales must have been £163,600 (with £163,500 going into the bank). I asked on here if this was correct but I don't think it was ever answered.
Macksie
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  • Practice Licence
  • 31 posts
  • # 73872

Thanks I think you must be right funnily enough after giving up last night and looking at it with fresh eyes today I did wonder about the cash then before I resorted to rocking with frustration I put a post on here lol!

I wonder how many people found the same as us in the exam????

Thanks again Smile
Peasie
  • Member PM.Dip
  • Practice Licence
  • 481 posts
  • # 73873

Macksie said:

“Thanks I think you must be right funnily enough after giving up last night and looking at it with fresh eyes today I did wonder about the cash then before I resorted to rocking with frustration I put a post on here lol!

I wonder how many people found the same as us in the exam????

Thanks again Smile”
Under exam conditions I would never have found that. Never in a million years. Although, ever since that question I have looked to see if there is cash involved but funnily enough, in any exam since it has just been bank. Apart from one other question - but it only had a figure for cash at the end of the year. I think it might have been put in as a trick question but under exam conditions it might have tricked too many.
Macksie
  • Member
  • Practice Licence
  • 31 posts
  • # 73874

Well I think it is quite a sucky trick I've done heaps of past papers and never had such a trick before but at least I'll be on my guard now :-)
Lesley
  • 116 posts
  • # 73905

Macksie said:

“Well I think it is quite a sucky trick I've done heaps of past papers and never had such a trick before but at least I'll be on my guard now :-)”


Hi Peasie is right it is the cash difference of £100 that needs to be included in the sales figure.  If it is any consolation when I first did this paper I missed this as well and couldn't get the sales figure so you are not alone.

Regards Lesley
  • 16 posts
  • # 80059

Hi All,

level 3 manual 
Can anyone please email me any past papers they may have? Sal1786@hotmail.co.uk
thank you  
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