Economics, Accounting & Business: Post your doubts here!

[mimiswift]

Tensed for Economics Paper2! ​

tell me about it!

 

[Wanzi21]

how about this? thanks in advance

 

[Anusuya]

View attachment 10301

how about this? thanks in advance

Is it B??

 

[Anusuya]

View attachment 10301

how about this? thanks in advance

Its B.
the rent from (april-oct) i.e 7 months will be 3500(500 each month)...which is to be posted in the p/l acc.
bt the quarterly payment of (6000/4) 1500 on october includes prepaid rent ffor nov. n dec. also. the advance income rent of 1000 is liability

 

[Wanzi21]

Its B.
the rent from (april-oct) i.e 7 months will be 3500(500 each month)...which is to be posted in the p/l acc.
bt the quarterly payment of (6000/4) 1500 on october includes prepaid rent ffor nov. n dec. also. the advance income rent of 1000 is liability

how do you get 1000 then?

 

[Anusuya]

mcq no.8:
as overdraft should be credit, we will credit the bank account with double the amount. first to cancel the debit entry and second to record the debit entry and debit the suspense account by $200. as purchases are understated by 10, we will debit purchases and credit suspense account, giving us the balance of credit $190

ah!! I got it. thanks

 

[Esme]

here, first we record the goodwill by crediting partner's cap a/c on old ratio and debiting goodwill and in second entry write off the goodwill:

goodwill $30,000
Partner cap a/c x: $15,000
y: $15,000

Partner cap a/c x: $10,000
y: $10,000
z: $10,000
goodwill: $30,000

now before, when Z is admitted, X and Y receive $15,000 and on writing off the goodwill every faces a cost of $10,000 but X and Y initially got $15,000 so they have there accounts increased due to admission of Z as there net capital is now on $5,000

yea thats what i was confused about.... their net increase shall be 5000.
n Z's capital will actually decrease right ?

 

[wajiman]

yea thats what i was confused about.... their net increase shall be 5000.
n Z's capital will actually decrease right ?

yes

 

[Anusuya]

how do you get 1000 then?

when you divide 6000/4 You get 1500 for october. ( that includes 500 for. oct. 500 for nov. and 500 for dec.) Since the account is for year ending 31 Oct. The incomes for nov. and dec. (500+500 = 1000) is an advance income. Hence liability = 1000

 

[shahz_h]

pleez some1 solve my doubts on the previous page!!!

 

[parthrocks]

 

[Anusuya]

http://www.xtremepapers.com/papers/...AS Level/Accounting (9706)/9706_w09_ms_12.pdf
Ques. no 26?? What job costing actuallly mean?
Ques. no. 29??

 

[Tasnuva]

Can someone explain what Job costing and Batch costing is all about? I'm really confused!

 

[urvesh]

PLEASE HELP!

Q26 AND 30 here - http://www.xtremepapers.com/papers/...AS Level/Accounting (9706)/9706_w11_qp_12.pdf

 

[Anusuya]

http://www.xtremepapers.com/papers/...AS Level/Accounting (9706)/9706_w10_qp_11.pdf

1st question plzzz. I m getting all messed up now.

 

[amar_123]

can someone please tell me the answer for accounting q22 on paper 1 variant 11 may june 2010

 

[Anusuya]

can someone please tell me the answer for accounting q22 on paper 1 variant 11 may june 2010

current ratio = CA/CL
CA/(8000+2000) = 2/1
CA = 20,000

Acid test ration = (CA-stock)/ CL
1.5:1 = (20000-stock)/10,000
stock = 5000 (B)

 

[SUMMERLOV35]

PLEASE HELP!

Q26 AND 30 here - http://www.xtremepapers.com/papers/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_w11_qp_12.pdf

q26
x-21/x=30/100
x-0.3x=21
x=30
30-21=9 112500/9=12500 units

 

[parthrocks]

ONE VERY SMALL DORMUBT IS NON-CURRENT LIABILITIES OR LONG TERM LIABILITIES A PART OF CAPITAL EMPLOYED.....I JUST GET CONFUSED PLZZZ HELP......COS SUM1 SAID THERE ARE TWO FORMULAS???REPLY ASAP??

 

[parthrocks]

PLEASE HELP!

Q26 AND 30 here - http://www.xtremepapers.com/papers/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_w11_qp_12.pdf

Is the answer A...for q30