How was your Principle Of Accounts paper???

[Fadhila]

$24000

Mine was $50,000!

 

[mrmt]

I guess it was '218800'

i too got same!! wat was ur retained profit in company appropriation account?

 

[muzirox]

Mine was $50,000!

Yeh, sry 24000 was the residual profit after deducting all appropriations

 

[muzirox]

i too got same!! wat was ur retained profit in company appropriation account?

$24000

 

[Fadhila]

Yeh, sry 24000 was the residual profit after deducting all appropriations

Ya, i got the same and mine balancing figure was 298800..

 

[Waleed007]

Ya, i got the same and mine balancing figure was 298800..

Did your balance sheet balanced?

 

[muzirox]

Ya, i got the same and mine balancing figure was 298800..

ni it was 218800 not 298800

 

[scouserlfc]

ni it was 218800 not 298800

this depends on where u added the loan !

 

[hashim2]

Although my balance sheet didn't balance, I'm pretty sure the balancing figure was 298,800. I had a difference of 800. However, I want to ask how many marks will i lose for treating bank deposit incorrectly (I deducted it from the bank overdraft whereas it had to be treated as an asset)?

 

[perfect1]

Guys, did we have to include debenture amount in the balance sheet?

 

[scouserlfc]

Guys, did we have to include debenture amount in the balance sheet?

No its not necessary it just said capital reserve which does not include the debentures

 

[perfect1]

And the questions where the purchase of machinery was added to operating expenses, which accounting principle was broken.

 

[muzirox]

And the questions where the purchase of machinery was added to operating expenses, which accounting principle was broken.

Matching

 

[scouserlfc]

Matching

YUp i wrote this but what do u guys say abt Prudence one of my friends wrote this and he argued with us over this

 

[muzirox]

YUp i wrote this but what do u guys say abt Prudence one of my friends wrote this and he argued with us over this

Can b in a sense k profit will b undervalued which will affect the true picture of profit

 

[Fadhila]

Did your balance sheet balanced?

Yes it did, what abt urs?

 

[Fadhila]

this depends on where u added the loan !

i added the loan after the financed by section.

 

[scouserlfc]

i added the loan after the financed by section.

same here

 

[Fadhila]

same here

 

[Zhamed]

Paper was easy! The balance sheet didn't balance though. Still we don't get marks for it. Told you most questions will come from 2011 papers . Phew! I did both M/J and O/N several times.