Accounting paper 22 discussions here.

[SalmanPakRocks]

What about economics paper one? Has that been given too?

Nah, I want it too, do let me know if you find it.

 

[amandeep04]

Can you please post the entire paper? Especially paper 1?

I would but just tht Its kinda difficult to take pictures of every page and time consuming too so I'd do it when I can.

 

[WayneRooney10]

Nah, I want it too, do let me know if you find it.

Will do.

 

[amandeep04]

Can you please post the entire paper? Especially paper 1?

Ill post it in a while.

 

[nouman]

plus if net profit ws wrong the error will be carry forwared causing a potential loss of at least 13 marks as a whole in q2

 

[amandeep04]

plus if net profit ws wrong the error will be carry forwared causing a potential loss of at least 13 marks as a whole in q2

Theyll give you marks if you carried forward a wrong figure but did the right method.

 

[sweet angel]

what did we have to wright for the last part? difference in profit?
I wrote that in absorption costing the cost per unit included fixed cost per unit too bt in marginal only variable cost per unit is included
was that ryt? ?

 

[abbey789]

I hope!
Some people messed up the Net profit im question 2 because of the interest on loan.
what was your NP?
Are we allowed to discuss the exam yet?

1000?

 

[abbey789]

what did we have to wright for the last part? difference in profit?
I wrote that in absorption costing the cost per unit included fixed cost per unit too bt in marginal only variable cost per unit is included
was that ryt? ?

Yes that's right

 

[sweet angel]

the most concerning ratio in q3?
I wrote ROCE :/
and why the goodwill is arisen?
I just wrote so that the existing partners can be benefited and so the new partners capital acc is not overstated. It obv wrong I guess

 

[abbey789]

The value for corrected profit was 20000 right?

 

[abbey789]

the most concerning ratio in q3?
I wrote ROCE :/
and why the goodwill is arisen?
I just wrote so that the existing partners can be benefited and so the new partners capital acc is not overstated. It obv wrong I guess

the first one is right you'll get a one for it!

 

[abbey789]

No, that's because the question didn't say so, though IAS says that internally generated good will should not be recorded due to subjectivity and objectivity concept, but CIE doesn't get the point!

the question was for 7 marks! so I think the goodwill should be written off as it is not a purchased goodwill

 

[shahzeb1994]

Was the goodwill to be written of and secondly what was the correct loan interest and net profit

 

[abbey789]

Was the goodwill to be written of and secondly what was the correct loan interest and net profit

I did write off the goodwill and the loan interest was 1000, and the net profit was 20000. So the goodwill was 40,000

 

[amandeep04]

Did you include Apex's Direct material in the total direct materials required for the year ended question or was it only for bond and cord?

 

[Anique]

Paper 1 is already been given, I'll provide you!

Me too Btw if your corrected net profit is wrong, you will get wrong b/d of capital in it's next part and then you will get wrong int on capital in appropriation account? No part was independent :/

 

[amandeep04]

Me too Btw if your corrected net profit is wrong, you will get wrong b/d of capital in it's next part and then you will get wrong int on capital in appropriation account? No part was independent :/

But you'll get marks according to ur answer.

 

[shahzeb1994]

I accidentally did the income statement and balance sheet part of q1 with a pencil as I was not sure of the values though thank god I got some of those correct. Will they cut marks for writing with a pencil as it was mentioned on the front page to write with dark blue or black pen plzzzz reply

 

[M@hrUkH Ch@dh@ry]

ok

Okay, here are my answers.
I selected Business Y as computer manufacturer, which I know was wrong, I got Capital employed 1800,000 and 750,000 respectively while sales were 540,000 and 1500,000. Non-current assets had to be found by using working capital and deducting it from Capital employed.

In Question 2, I didn't see that interest was just for 3 months, so I took it whole and got wrong net profit of 18000 instead of 20,000 but that would cause a maximum of 3 marks. Good will was to be credited in the Grosz account but not to be written off. Appropriation account would be correct but I think I'll lose marks in theory as for why good will was arisin.

In Question 3, I got 2200 as break even and then got the Margin of safety in revenue. The total material was coming 48000 metres and the profit was coming $52,800. Examiner might deduct 1 or 2 in the last part but that's unlikely because I mentioned that different profits are reported due to change in inventory level as in Marginal costing, inventory is treated as period cost while in absorptional, it's treated as unit cost.

Ok!! So i did the same mistake as yours in question 2 but rest i thin i nailed it