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fa2 notes, chapter 3 question3 mistake?

Forums › FIA Forums › FA2 Maintaining Financial Records Forums › fa2 notes, chapter 3 question3 mistake?

  • This topic has 5 replies, 5 voices, and was last updated 9 years ago by ajnabee.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • February 25, 2015 at 10:20 pm #230239
    k8y
    Member
    • Topics: 2
    • Replies: 1
    • ☆

    Hi, the answer D = should be paid to government, not received from government.

    February 26, 2015 at 11:10 am #230304
    HazE
    Participant
    • Topics: 11
    • Replies: 84
    • ☆☆

    Thats true, or Answer C could be right if you change the answer value from 3400 to 3600

    March 2, 2015 at 5:36 pm #230994
    Adrienne
    Participant
    • Topics: 5
    • Replies: 15
    • ☆

    The answer is incorrect in the course notes, you are correct it should be paid to the government.
    I have sent an email to the open tuition team about these incorrect answers and you should note that the following are incorrect answers also:-
    Chapter 4 – Question 3, they did not ask us what was the opening balance, they asked what was the balance at 31/3/13, they also put dates in that were not referred to in the question.
    Chapter 4 – Question 6 – answer A = 45 which is the incorrect answer, the answer is B
    Chapter 6 – Questions 1 & 2 – see my question on this in the forum, I’m waiting on an answer but the answer given in the notes is incorrect or else they put the incorrect dates !
    Chapter 10 – Question 6 – wrong bal written as b/forward – so you’re not incorrect when you get your answer ignore the bal b/fwd
    Chapter 10 – Example 2 – markup in question is 30% – they used 50% in the answer – change your mark up in the example to get the answer they use
    Chapter 10 – Question 7 – the question uses mark up of 40% but the answer uses 50%, change your mark up to 50% to get their answer. And at the very bottom they use closing stock = 7,500 + 37,000 – 30,000 (this is wrong it should be 14,500 = 30,000 cost of sales (not 14,500 which is closing stock)
    Chapter 10 – Question 8 – the amount paid to suppliers is in the answer as 85,393, use this as your figure and you will get one of the answers they gave, otherwise their answer for drawings is out by 3…..

    Adrienne

    March 2, 2015 at 5:57 pm #230998
    k8y
    Member
    • Topics: 2
    • Replies: 1
    • ☆

    Thank you.

    May 5, 2015 at 11:01 am #244153
    mona
    Member
    • Topics: 0
    • Replies: 1
    • ☆

    The answer c is correct

    October 26, 2015 at 8:07 am #278968
    ajnabee
    Member
    • Topics: 0
    • Replies: 3
    • ☆

    @adriennekelly said:
    The answer is incorrect in the course notes, you are correct it should be paid to the government.
    I have sent an email to the open tuition team about these incorrect answers and you should note that the following are incorrect answers also:-
    Chapter 4 – Question 3, they did not ask us what was the opening balance, they asked what was the balance at 31/3/13, they also put dates in that were not referred to in the question.
    Chapter 4 – Question 6 – answer A = 45 which is the incorrect answer, the answer is B
    Chapter 6 – Questions 1 & 2 – see my question on this in the forum, I’m waiting on an answer but the answer given in the notes is incorrect or else they put the incorrect dates !
    Chapter 10 – Question 6 – wrong bal written as b/forward – so you’re not incorrect when you get your answer ignore the bal b/fwd
    Chapter 10 – Example 2 – markup in question is 30% – they used 50% in the answer – change your mark up in the example to get the answer they use
    Chapter 10 – Question 7 – the question uses mark up of 40% but the answer uses 50%, change your mark up to 50% to get their answer. And at the very bottom they use closing stock = 7,500 + 37,000 – 30,000 (this is wrong it should be 14,500 = 30,000 cost of sales (not 14,500 which is closing stock)
    Chapter 10 – Question 8 – the amount paid to suppliers is in the answer as 85,393, use this as your figure and you will get one of the answers they gave, otherwise their answer for drawings is out by 3…..

    Adrienne

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