Very helpful! Thank you. In task a)iii)b), I thought that we could not include the installations costs to the cost of the asset because it was done by an employee already receiving a salary.
You’re able to add installation because it’s still adding value to the asset. If part of the asset being usable includes professional installation then that in itself is part of the asset cost and therefore should be capitalised :).
Brilliant video! very useful and much appreciated. Not sure if you have done more of these with different mock exams but I would happily watch them all!!
Hi Will, thank you for these videos, i've been using them for Level 2 and Level 3 and they've been awesome! Just a question regarding Task 2 - Question b We use a learning provider called Mindful and their questions on prepaid expenses include debiting the account with the full amount of the transaction and then crediting the prepaid amount so for example it would be DR 4500 (Bank) and CR 2625 (Prepaid Expenses) Is there a reason why this wasn't included in your answer or why Mindful includes it within theirs? Thanks again!
Hi Ben - that does seem a little strange to me because if you were to do it like that the double entry wouldn't match up because (in the example you've given there) your debits are higher than your credits. Is there another entry they've provided?
@@Willboardman thank you for your reply, i've dropped you a message on instagram as i may be able to send you a snippet of the question im on about if thats ok?
That’s how I’ve been trained too. Debit the expense with the full amount as been paid out of the bank in that year, but credit the expense with the amount prepaid for the following period.
Hiya Thanks for the information.. I wanted to do AAT level 3 but I’m so confused with which publications do I need to use. Can you please suggest me with the latest syllabus books with good publications name and how can I buy them?
Hi! So the playlists can be a bit tricky because of the crossover between q16 and q22 so what I’ve done is put all video links on a Googlesheets document. You can find the tinyurl in the description of this video and will take you to where I’ve put them all into categories :)!
Hi, so when transferring the sales day book the total on the net column goes to the sales revenue and the total (gross) column goes to the Receivables ledger control. With this being the total column that’s overcast it would mean the effected account is the RLCA. If it was the net column that had been overcast then it would have been an adjustment to the sales revenue account.
Hi, thank you this helped a lot! Just a question...if Max took £1500 out of the bank and he recorded it in the cash book but not in the drawings account, would his double entry have been Dr suspense and Cr capital or Cr bank?
Hi, good to hear :)! So if the transactions had been recorded correctly within the cashbook (bank column) then the only issue would be the drawings entry. In which case you’d debit drawings for £1500 and credit the suspense account. I
You're a life saver mate, I crushed the first mock, but the second (this one) was super challenging, so many super tricky questions!
You’re very welcome!
same for me the first was super easy and this one more challenging
Thank you for teaching in a simple way with examples.
Examples are very useful.
Your videos are short and helpful to understand.
Currently studying level 2, this was a great help and made me realise which areas I needed to practice a bit more. Added to saved videos to rewatch.
Oww thank you its very clear easy and helpful hope to pass my test
This is brilliant, thank you so much for this.
Very helpful! Thank you. In task a)iii)b), I thought that we could not include the installations costs to the cost of the asset because it was done by an employee already receiving a salary.
You’re able to add installation because it’s still adding value to the asset. If part of the asset being usable includes professional installation then that in itself is part of the asset cost and therefore should be capitalised :).
Thanks for your valuable help. I really appreciate
Brilliant video! very useful and much appreciated. Not sure if you have done more of these with different mock exams but I would happily watch them all!!
Thanks for this, like the outro " hope you enjoyed, enjoyed might be a stretch"😂 it was definelty useful
Really appreciate this , Thank you ❤
Superb. Thanks for this Will!
Hi Will, thank you for these videos, i've been using them for Level 2 and Level 3 and they've been awesome!
Just a question regarding Task 2 - Question b
We use a learning provider called Mindful and their questions on prepaid expenses include debiting the account with the full amount of the transaction and then crediting the prepaid amount so for example it would be DR 4500 (Bank) and CR 2625 (Prepaid Expenses)
Is there a reason why this wasn't included in your answer or why Mindful includes it within theirs?
Thanks again!
Hi Ben - that does seem a little strange to me because if you were to do it like that the double entry wouldn't match up because (in the example you've given there) your debits are higher than your credits. Is there another entry they've provided?
@@Willboardman thank you for your reply, i've dropped you a message on instagram as i may be able to send you a snippet of the question im on about if thats ok?
That’s how I’ve been trained too. Debit the expense with the full amount as been paid out of the bank in that year, but credit the expense with the amount prepaid for the following period.
Ahhhhh just seen, the cash book figure includes the paid insurance invoice
Hiya
Thanks for the information..
I wanted to do AAT level 3 but I’m so confused with which publications do I need to use.
Can you please suggest me with the latest syllabus books with good publications name and how can I buy them?
Hi Will, would it be possible for videos on the channel to be categorized into playlists?
Hi! So the playlists can be a bit tricky because of the crossover between q16 and q22 so what I’ve done is put all video links on a Googlesheets document. You can find the tinyurl in the description of this video and will take you to where I’ve put them all into categories :)!
@@Willboardman Thanks mate, appreciated. May be requiring your services for some tutoring, where's the best place to get info on your rates/dates etc?
Just pop me an email over with what you’d like from a session and we can have a look at what would work best :)!
Hi Will - the task 3, C 2nd item - £1000, why is it not for deduction in sales revenue but for trade receivable ? thanks.
Hi, so when transferring the sales day book the total on the net column goes to the sales revenue and the total (gross) column goes to the Receivables ledger control. With this being the total column that’s overcast it would mean the effected account is the RLCA. If it was the net column that had been overcast then it would have been an adjustment to the sales revenue account.
Thank you very much, Will, I must had been needing a break on the revisions videos. So so nervous as this is a big unit to learn.
Hi, thank you this helped a lot! Just a question...if Max took £1500 out of the bank and he recorded it in the cash book but not in the drawings account, would his double entry have been Dr suspense and Cr capital or Cr bank?
Hi, good to hear :)! So if the transactions had been recorded correctly within the cashbook (bank column) then the only issue would be the drawings entry. In which case you’d debit drawings for £1500 and credit the suspense account. I
did you scan page with instructions and pasted it into excel in this video ?
What time stamp are we looking at and I’ll take a look for you.
@@Willboardman 10th minute 40 second -looks like you are in excel but i dont know for sure
Oh no that was just on screen. That’s how it looks on my AAT mock :)
@@Willboardman thanks for reply
Tule is fabric, so I guess its a machine that makes that fabric that looks like mesh.
Well there you go! That would certainly make more sense!
@@WillboardmanHi Will,thank you for the videos,all of them are very helpful, I would like to contact you,can I have your email address please?
Hi, glad to hear you’re finding them helpful :)! I do, you can find my email in the description below the video. Will-aat@hotmail.com
could you please be my tutor?
Hi, are you currently with a provider :)?