Accounting Discussion

[Meg]

I tried the sum with the ledger but its coming wrong!
Why is that happening? :/
Have I written the opening and closing balance on the wrong sides?

I get tehe mistake lol
I put opening and closing balance of debtors' on the wrong side
Else its perfect

 

[SmartNour]

How do I calculate opening capital employed in limited companies?

Do the Share Capital plus retained profit plus Debentures and Dont add the profit for the year.....

 

[ThatReallyReallyWeirdDude]

Do the Share Capital plus retained profit plus Debentures and Dont add the profit for the year.....

It's still going to be Capital + Long Term Liabilities
There may be other liabilities not just debentures!

 

[SmartNour]

It's still going to be Capital + Long Term Liabilities
There may be other liabilities not just debentures!

You dont sayy!!!! xD

 

[ThatReallyReallyWeirdDude]

Hmmm
Though I highly doubt such a thing will be asked in exams, for limited companies must ALL capital come from shareholders?

 

[Meg]

The exam was AMAZING :O
A* for sure B)

 

[ThatReallyReallyWeirdDude]

The exam was AMAZING :O
A* for sure B)

Oh :O You're variant 2?
Congratulations

 

[Meg]

Thanks ^^

 

[ThatReallyReallyWeirdDude]

You're not taking chemistry or already done that too?

 

[Meg]

My friends' did it
They said it was alright
Just a bit lengthy XD

 

[seemo1995]

what variant did u take ?

 

[sasq111]

The exam was AMAZING :O
A* for sure B)

how was it ?

 

[Meg]

Its really easy guys
Just take a breath and chill
All easy topics came..and weirdly..LOT of theory questions -_-
Varient 2

 

[sasq111]

Its really easy guys
Just take a breath and chill
All easy topics came..and weirdly..LOT of theory questions -_-
Varient 2

then probably our variant 1 will be hardddd ;(

 

[Meg]

It wouldnt!
Trust me on that
Just do theory well and revise all the topics nicely
Dont focus on paper 2 topics like limited accounts -_-

 

[SmartNour]

really it was easy???? my exam in few hours ...m scared u guys certain ??

 

[SmartNour]

Paper was amazing!!

 

[AhmedMans]

Paper was amazing!!

Variant 1? No, it wasn't

 

[ThatReallyReallyWeirdDude]

Variant 1 was great
Lol last question I accidentally took trade payables 63000 as cash and got a current ratio of like 9.75 XD
But I noticed and rewrote the correct answers on a new page

 

[AhmedMans]

Guys, I forgot to write ALL payments details in details column, how much do I lose?

PS: It's in petty cash book