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  1. azaanahsan

    Economics, Accounting & Business: Post your doubts here!

    Hi, Q#10: In this question u have to first work out how much x has to receive from business as a partner. Capital for x = 240,000 (which he will receive) Goodwill share of x= 50,000 * 3/5 = 30,000 (which he will receive) So his total share is 240,000 + 30,000 = 270,000 Now its given that...
  2. azaanahsan

    Economics, Accounting & Business: Post your doubts here!

    Ok.... 6) Q relates to restructuring of capital... they told us that directors want to write off retained earning (Loss) & 100,000 goodwill against capital. So share Capital will become: 10,00,000 - 300,000 - 100,000 = 600,000 Now shares given to shareholders have nominal value of 0.50 & total...
  3. azaanahsan

    ok :)

    ok :)
  4. azaanahsan

    Economics, Accounting & Business: Post your doubts here!

    Same as previous Expense A/c question... Difference over here that closing prepaid u have to find. As u can see that payment made is 157200 which is till 31st march... Our accounting period ends at 31st dec. So closing prepaid is 157200/12 * 3 = 39300 So now same technique Dr side( Op...
  5. azaanahsan

    Economics, Accounting & Business: Post your doubts here!

    In first question u have to find difference b/w Old provision & new Provision... Receivables given for 2003 are net receivables i-e is after deduction of provision. So if we want to find full Receivables 17100 = 95 % of Receivables 17100 = 95/100 * receivables 17100 * 100 / 95 =...
  6. azaanahsan

    Economics, Accounting & Business: Post your doubts here!

    No Marking scheme is correct :) See lets start with share capital .... Share capital in beginning was 600,000 then u issued shares for 20,000 So it became 620,000 Redeemable shares are redeemed so they will not come now. Now share premium... In start share premium was 20,000. When we...
  7. azaanahsan

    Economics, Accounting & Business: Post your doubts here!

  8. azaanahsan

    Economics, Accounting & Business: Post your doubts here!

    what different strategy?
  9. azaanahsan

    Economics, Accounting & Business: Post your doubts here!

    umm sorry rameez... no i don't think it should be added becoz out of that cash sales, cash should have been banked... if cash banked amount was higher then cash sales given than it could be possible that it was banked other than cash sale. there was also no other info. about this.... so i think...
  10. azaanahsan

    Economics, Accounting & Business: Post your doubts here!

    Ram I think credit & cash sales was given u had to add them... that's it,,,,
  11. azaanahsan

    Economics, Accounting & Business: Post your doubts here!

    No but u should prepare all of them... :)
  12. azaanahsan

    No prob. yes, sales - all variable expenses .....

    No prob. yes, sales - all variable expenses .....
  13. azaanahsan

    Economics, Accounting & Business: Post your doubts here!

    they have used rounded figure 6.90... but i think ur answer is also acceptable....
  14. azaanahsan

    I don't think they will deduct marks for this ....

    I don't think they will deduct marks for this ....
  15. azaanahsan

    Economics, Accounting & Business: Post your doubts here!

    First ummm sorry for late reply :( 1) Stock matter As we know that stock should be recorded at lower of cost & NRV . If we calculate the cost of these 6 items it will be 6 * 220 = 1320 Now if we calculate NRV of these item it will be 6 * 250 = 1500 - 400 = 1100 Now we come to know that it...
  16. azaanahsan

    Economics, Accounting & Business: Post your doubts here!

  17. azaanahsan

    Economics, Accounting & Business: Post your doubts here!

    In ques. 1(c ii) Current Assets are as follows 2008 (Current Assets) 82150 + 66340 + 510 (Current Liabilities) 64300 + 61000 (Bank overdrawn) 2009 (Current Assets) 76500 + 60870 + 510 + 17930 (Normal balance of bank) (Current Liabilities) 71200 In ques. 2(B) goods are sold at 30% mark-up, the...
  18. azaanahsan

    b relaxed... Read questions carefully... try to answer all parts with as much as u know...

    b relaxed... Read questions carefully... try to answer all parts with as much as u know.. because even u write formula and format correct u may get marks for that.. don't leave anything... :)
  19. azaanahsan

    Account tutor

  20. azaanahsan

    Economics, Accounting & Business: Post your doubts here!

    Bro. avoid predictions & try to prepare all topics :)
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