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Accounting doubts & Queries
At the moment I have compiled Single entry notes. You will have to wait for that. -
Accounting doubts & Queries
Send me me your email address so that I mail you the notes -
Accounting doubts & Queries
S Sorry for the late response, was going through a hectic schedule. Ill inbox you something which will be a great benefit to you. Wait couple of days. -
Accounting doubts & Queries
I will inbox you the important MCQS list which always have a high chance of being tested in the exam again. Wait couple of days. -
Accounting doubts & Queries
I am really sorry for the delay in my response. You will have to wait till 10th dec and then I will be answering all your queries. -
Accounting doubts & Queries
I am really sorry for the delay in my response. You will have to wait till 10th dec and then I will be answering all your queries. -
It's easy as compared to Economics and Maths. It requires moderate level of practice.
It's easy as compared to Economics and Maths. It requires moderate level of practice.- hitler575
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Accounting doubts & Queries
No, Interest payable is not taken to cash flow statement. Even I made silly mistakes at my time so that's natural. So just relax and stop thinking about the paper. :D -
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Accounting doubts & Queries
First Calculate Equivalent Units: DM= 1000 units DL= 900+( 100 into 50%)=950 units OH=900+(100 into 50%)=950 units Therefore the costs given are on these units. Now calculate the rates of each DM, DL ,OH and multiply it by F.G units: D.M= 3000/1000=$3 into 900= $2700 D.L= 3800/950=$4 into... -
Accounting doubts & Queries
Equity = O.shares + S.Prem + Retained Earnings. Issue 50000 shares: Shares will increase by $50000, S.Premium will increase by $10000(0.2 into 50000) Repay $100000 at 20% prem: Loan decrease by $100000, R.Earnings will decrease by $20000(100000 into 20%). Therefore Equity=... -
Accounting doubts & Queries
If the data in the question is given for 31 Dec 2011 then the book is correct. I have assumed data to be given for 31 dec 2010. -
Accounting doubts & Queries
Non current Assets + Working capital- longterm loans= Closing.Capital(Imagine the Bal.sheet and you will understand this equation). Closing.Capital= Op.Capital+ profit - drawings. Therefore 310+30-20=320. Ans is B. -
Accounting doubts & Queries
Entries made regarding Stock withdrawn: 1) Drawings (Dr), Purchases(Cr), 2) Capital (Dr), Drawings (Cr). Therefore Ans is A. (Closing Inv is always physically counted). -
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Accounting doubts & Queries
Operating Profit- Interest Exp- Tax exp- Div.paid=Retained Profit, Therefore Op.Profit=Retained Profit + Div + Tax exp + Int.Exp. Workings: Int Exp= 150(Debentures) multiply by 6%(Int.Rate)= $9000 For Ord.Div.Paid; Div.Yield= Div.Paid/M.V of all Ord.share. i.e 2.5%= Div.paid/(1.6 multiply by... -
Accounting doubts & Queries
Sales - C.O.S= G.P, Cl.Inv= Op.Inv +3000 In this case C.O.S= Op.Inv+Purchases+(1/3Wages)- (Op.Inv + 3000) Further Simplifying COS= Op.Inv+Purchases+1/3Wages- Op.inv - 3000 So OP.inv(Op.Inv-Op.Inv) cancels out and you're left with COS=Purchases + 1/3wages -3000 I.e COS=60000+7000-3000=64000... -
Nixor VS St.Patricks
ST.PATS. Great teachers of all subjects now. Friendly environment and great competition. You will learn a lot there.- hitler575
- Post #8
- Forum: O-Levels / GCSEs / IGCSE
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Accounts help
Lodgements are cheques deposited in the bank but still in "clearing"(bank verifying the cheque)so it is not shown in the bank statement as deposited yet. Therefore lodgements are added in the bank statement balance to reconcile with cash book balance. Unpresented cheques are cheques issued to...