How was accounting p42?

MariaZ

MariaZ

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No 1 blew me off. What was the retained profit? Where do you put the capital expenditure ? What happened to bank over draft? What was the total asset? I got 603
Question 2 was okay. Just the first part was tricky. Question 3 was fine too
 
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ayushUcchil

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MariaZ said:
No 1 blew me off. What was the retained profit? Where do you put the capital expenditure ? What happened to bank over draft? What was the total asset? I got 603
Question 2 was okay. Just the first part was tricky. Question 3 was fine too
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No. 1 was tricky for me too, my balance sheet didn't tally by a small amount, about 5180. I made a bank account to enter the expenses, receipts from debtors, payments to creditors and the capital expenditure. I'm not sure whether what I did is right.
 
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Ebby_SaLeem

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ayushUcchil said:
No. 1 was tricky for me too, my balance sheet didn't tally by a small amount, about 5180. I made a bank account to enter the expenses, receipts from debtors, payments to creditors and the capital expenditure. I'm not sure whether what I did is right.
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Yep, you basically had to make a "mini" cash flow statement adding profit from operations, depreciation charges, increase in inventories, trade receivables and so on. It WASN'T the balancing figure.
 
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pakhee

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Ebby_SaLeem said:
Yep, you basically had to make a "mini" cash flow statement adding profit from operations, depreciation charges, increase in inventories, trade receivables and so on. It WASN'T the balancing figure.
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how many marks do you think the amount of cash at bank will have?I didn't do it.
 
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ayushUcchil

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Ebby_SaLeem said:
Yep, you basically had to make a "mini" cash flow statement adding profit from operations, depreciation charges, increase in inventories, trade receivables and so on. It WASN'T the balancing figure.
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Does it have to be a CFS? It can also be a bank a/c right?
 
kishmishdoll

kishmishdoll

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Why was current ac of 12 marks? What were the contents in that?
And what about the npv? Was it compulsory to give answers in 2 decimal places?
 
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ayushUcchil

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kishmishdoll said:
Why was current ac of 12 marks? What were the contents in that?
And what about the npv? Was it compulsory to give answers in 2 decimal places?
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The current a'c contained drawings on the debit side. There was interest on capital and profit on the credit side. Note that Interest on capital had to be charged for 6 months at the original rate and 6 months at the new rate. Profit for the two periods too had to be split in the original and new share. I made 2 rough income statements for calculations. I think that's all, can't remember too well :S
 
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pakhee

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ayushUcchil said:
The current a'c contained drawings on the debit side. There was interest on capital and profit on the credit side. Note that Interest on capital had to be charged for 6 months at the original rate and 6 months at the new rate. Profit for the two periods too had to be split in the original and new share. I made 2 rough income statements for calculations. I think that's all, can't remember too well :S
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wasn't it share of loss?
 
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muddi78

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What if I didn't made a proper cash flow but showed all things that had to be subtracted and added in my workings????????? Will I get full marks for my bank working????
 
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