Accounting Discussion

[ThatReallyReallyWeirdDude]

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

PS: It's in petty cash book

Ouch
I'd say at MAX like, 1 mark per transaction and there was what 6-7 transactions?

 

[AhmedMans]

Ouch
I'd say at MAX like, 1 mark per transaction and there was what 6-7 transactions?

Well, I'm not sure since I wrote all numbers right in their correct places....

 

[lovely666]

v1 wat was da partnership share of profit???

 

[ThatReallyReallyWeirdDude]

O

v1 wat was da partnership share of profit???

one person got 2200 (Raoul) and hassan got 3300

 

[lovely666]

i got da same ans....!! alhamdulillah!! i was doubting abt tht ans..

 

[AhmedMans]

About the errors, the third one was 200 dr drawings and 200 cr suspense right?
And in partnership journal, I did each capital individually, for example: 4000 dr bank 4000 cr capital-hassan (Hassan or Raoul I don't remember)
correct or?

 

[sasq111]

what was the first answer of the first question right after the mcqs
and also what was the policy after money measurement
btw paper 11

 

[Tedex]

First question (After mcqs) went like "What does a trader send to remind the customer on goods sold on credit" I THINK.

I wrote Statement of Accounts.

The policy was money measurement,

And there was another "Name the concept" question which asked about "It must help in making business decisions", That one is "Relevance Concept"


Don't know if you guys remember but in the Petty Cash Book, I got $204 for the Total Received section.

There was a transaction about "Refund from stationary guy" for $4. So I kept it in the received side, don't know if its correct.

 

[sasq111]

First question (After mcqs) went like "What does a trader send to remind the customer on goods sold on credit" I THINK.

I wrote Statement of Accounts.

The policy was money measurement,

And there was another "Name the concept" question which asked about "It must help in making business decisions", That one is "Relevance Concept"


Don't know if you guys remember but in the Petty Cash Book, I got $204 for the Total Received section.

There was a transaction about "Refund from stationary guy" for $4. So I kept it in the received side, don't know if its correct.

damn i wrote invoice
buh yes i got the relevance right and also money measurement

 

[SmartNour]

I wanted to ask about the question asking about the ONE way to make an agreement among the partners that Raoul earns more sales than ?? what are the correct answers for that and what was the balance for the petty cash book in the balance sheet ???

 

[ThatReallyReallyWeirdDude]

I wanted to ask about the question asking about the ONE way to make an agreement among the partners that Raoul earns more sales than ?? what are the correct answers for that and what was the balance for the petty cash book in the balance sheet ???

I wrote 24 for the balance of petty cash book.
And as for agreement among partners, well I wrote to increase his share of profits; he already has a partner's salary.
The only other way is to increase his salary, but I don't think that's ideal answer(Though still correct I guess)

 

[SmartNour]

Thankss ! btw what you people doing for paper 2 tmrw !! m scared :/

 

[ThatReallyReallyWeirdDude]

Just studying and stuff Past papers, theory, no worries here.

 

[Abdallah.Memon]

Margin and markup, someone ??

 

[ThatReallyReallyWeirdDude]

Margin and markup, someone ??

Markup = Gross Profit/Cost of Sales *100
Margin =Gross Profit/Sales * 100

 

[sasq111]

any notes on the important chapters in paper 2 ?
what all chapters should i revise?

 

[seemo1995]

Guys , how did u find p2 today ? Easy yea ?

 

[SmartNour]

How was paper 2 ???? tell us were freaking out here x(

 

[AhmedMans]

HARD

 

[aries]

HARD

for da errors wat was ur answer nd corrected net profit