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  1. P

    Accounting doubts & Queries

    According to Realisation concept, sale on sale or return basis isn't treated as a sale so they are included in the closing inventory of the business . mark up = 1/4 Margin = 1/5 Cost price of inventory sent for sale or return basis = 200000 * (4/5) = $160000 Closing inventory = 300 + 160 =...
  2. P

    Accounting doubts & Queries

    Trade r/c will increase by 900 is there is a credit sale not recorded so Debit balance on trade r/c a/c increases to : 48500 + 900 = $ 49400 Trade p/b debit balance is also a trade r/c : $3600 Total to be shown = 49400+3600 = $53000. so ans. is D.
  3. P

    9706....AS/A level Accounting Post ur doubts here...!

    Good will is in accounts as 10000, you cant credit this debit balance by more than 10000 so ultimately A is the ans.
  4. P

    Economics, Accounting & Business: Post your doubts here!

    i added goodwill of 20000 , net assets acquired from tee of 80000 and deducted our cash we paid him 100 000 so net assets movement is zero
  5. P

    yah ok....on the 23rd

    yah ok....on the 23rd
  6. P

    Economics, Accounting & Business: Post your doubts here!

    opening capital + profit + fresh capital - drawings = closing capital 12000 + profit - 16000 = 30000 + Decr in value/impairment (12000-8000) profit = 30+4-12+16 profit = 38000 so ans. is D
  7. P

    Economics, Accounting & Business: Post your doubts here!

    7. Ess gets net assets of Tee = 80000 Ess pays Tee = (100000) Ess gets goodwill on aquisition = (100-80)=20000 Net assets movement = 0 so the ans is 250000 ie, same as before. 8. Net assests taken over @ fairvalue = 400 + 120 - 200 = 320 Purchase consideration = 1500 Goodwill = 1500 - 320 =1180...
  8. P

    Economics, Accounting & Business: Post your doubts here!

    q13 is dividend yield formula : (0.21/1.4)*100 = 15% so ans. is A. q17 i aint sure so check it out from someone
  9. P

    Economics, Accounting & Business: Post your doubts here!

    cost of bonus issue is an expense incurred on issuing bonus shares which will be deducted from retained earnings.
  10. P

    Economics, Accounting & Business: Post your doubts here!

    i really think u r correct but bro i did the things other way around or i think both of us have failed to understand one thing maybe that they are asking how much PAID dividends will be SHOWN in notes. maybe i think and not sure do confirm and tell me man.
  11. P

    Economics, Accounting & Business: Post your doubts here!

    18. The order for most flexible form is to utilize the revaluation reserve first then share premium then general or any other reserve and then the Retained earnings. This way revaluation reserve and share premium will fall to zero and remaining 30 will be deducted from Retained earnings so the...
  12. P

    Economics, Accounting & Business: Post your doubts here!

    Net Debt = Total Non Current liabilities - Cash and Cash equivalents
  13. P

    Economics, Accounting & Business: Post your doubts here!

    for the first question All the dividends payable within the financial year are recorded.... this includes all dividends payable within the year 1 April 2009 -31 May 2010. so the ans. is 100+50 = 150 and ans. is B. for the second question production = sales + closing inventory - opening...
  14. P

    Economics, Accounting & Business: Post your doubts here!

    20000 -- -- 25% worth -- -- 100% cross multiply u get 20000 / 0.25 = $80000 ( jUst like David Hussey idk if i m right)
  15. P

    Economics, Accounting & Business: Post your doubts here!

    According to IAS 10, Events after the statement of financial position date, proposed dividends are non-adjusting events as they have been proposed after the drawing up of financial statements and have no part in the accounts. This way: neither it will appear in Statement of changes in equity...
  16. P

    Economics, Accounting & Business: Post your doubts here!

    According to IAS 10, Events after the statement of financial position date, proposed dividends are non-adjusting events as they have been proposed after the drawing up of financial statements and have no part in the accounts. This way: neither it will appear in Statement of changes in equity...
  17. P

    9706....AS/A level Accounting Post ur doubts here...!

    Suspence a/c Dr. $300 Purchases Journal Cr $300
  18. P

    9706....AS/A level Accounting Post ur doubts here...!

    NBV changes each year but we dont keep on incurring its cost we incurred it at purchase and then its sunked
  19. P

    9706....AS/A level Accounting Post ur doubts here...!

    For the first one... Historical cost shows the relative cost of expenses and incomes and this is the only thing that will help most in deciding the optimum invest plan so the ans. is B. For the second one a NBV of a non-current asset is not a fixed cost as it's not incurred each year (possibly)...
  20. P

    9706....AS/A level Accounting Post ur doubts here...!

    For July Opening Inventory = 300 * 50% = 150 Closing inventory = 600 * 50% = 300 Sales = 300 Production = Sales + Closing I/V - Opening I/V = 300 + 300 - 150 = 450 units 450 units is 90% of total production as 10% was wasted. 450 -- -- 90% x -- -- 100 % Cross multiply and we get 450 /...
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