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Worried about Trading, P&L Exam

Godot. · 2012-11-23 20:05:10

It's for a FETAC Level 5 course. I was €1,000 out from balancing, but it was an exact 1k. On the balance sheet, fixed assets, Current assets + liabilities came to 821,200. Share Capital, Share Premium, P&L Balance & Long Term Liability came to 822,200. On the plus side, it was probably something small because it was a…

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23-11-2012 9:05pm

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Godot.

Registered Users Posts: 528 ✭✭✭

Join Date: May 2010

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It's for a FETAC Level 5 course. I was €1,000 out from balancing, but it was an exact 1k.

On the balance sheet, fixed assets, Current assets + liabilities came to 821,200. Share Capital, Share Premium, P&L Balance & Long Term Liability came to 822,200. On the plus side, it was probably something small because it was a small even figure, but an accountant has to be right all of time not some of it. I think it was a mistake adding the depreciation, but I ran out of time.

Also, 'average stock' in the turnover ratio question question is 1/2 closing stock + opening stock, isn't it?

How do you think I did? Still on track for a distinction mark or too inexact?

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