Accounting doubts & Queries

[Taha Noman]

Question : How does prudence stop Goodwill from being stated in the balance sheet?

 

[zara97]

If Fixed overheads is absorbed on the basis of Labour hours then include it in W.I.P also otherwise no change.

what do u mean by no change??

 

[AlphaBeta]

what do u mean by no change??

no change = we dont include

 

[zara97]

ok i get it now. thnks.

 

[AlphaBeta]

oct/nov 2004 paper 4 accounts
http://papers.xtremepapers.com/CIE/... AS Level/Accounting (9706)/9706_w04_qp_4.pdf
question 1 part b) how to get da creditors payments ?

 

[:: A^]

http://papers.xtremepapers.com/CIE/... AS Level/Accounting (9706)/9706_s08_qp_2.pdf
Q1, how to find Opening Capital for the balance sheet? The examiner report says its not a balancing figure!

 

[Rishabh195]

Doubt in 3rd question part a and b and 1st question c part
Plzzz help......

 

[Emadthegreat]

23 A company is going to sell a surplus non-current asset.
Which term describes the net book value of the non-current asset in respect of the decision to
sell?
A a fixed cost
B a stepped cost
C a sunk cost
D a variable cost
answer is c how?
21 Arun wishes to invest in a business with a skilled workforce which will make a profit in each of the
next five years.
Which aspect of financial statements helps Arun to decide where to invest?
A Financial statements deal with past performance.
B Historic cost is based on objective figures.
C Non-monetary values are excluded.
D Provisions can be based on estimates.
answer is b how?

 

[hitler575]

I apologize of being so late due to the hectic schedule. This is all the theory you must know regarding As-Level in order to counter theoretical MCQs. Please go through the entire notes. Courtesy: Umar Mehsood.

 

[Harsh Poddar]

I've made this site that can help you to quickly access past papers for a few common subjects. Try it out and please leave a feedback by clicking on my name below the website.

http://server-poddarh.rhcloud.com/paper.html

 

[student8]

Shara Nafaz

 

[Sarah Paul]

View attachment 41055 View attachment 41056
Shara Nafaz

Bt i cant see the attachment. I think somethings wrong wid my PC

 

[Crimson-Saint]

answer is C how can i get it? pls answer exam is in 2 days! i need help in a few questions only

 

[:: A^]

How about now

Bt i cant see the attachment. I think somethings wrong wid my PC

 

[Sarah Paul]

How about now

Got it Thank you so much ppl student8 and @::A^

 

[Crimson-Saint]

over here ans is C what formula do i use?

 

[Crimson-Saint]

http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_s04_qp_2.pdf
How do u calculate goodwill in this question? question 2

its a hidden goodwill do u still need help in this question?

 

[:: A^]

TotalOverheads - (VC/Unit * Activity) = Fixed Cost

View attachment 41066

over here ans is C what formula do i use?

 

[hitler575]

View attachment 41063

answer is C how can i get it? pls answer exam is in 2 days! i need help in a few questions only

 

[hitler575]

View attachment 41066

over here ans is C what formula do i use?

1)Total Overhead= Variable overhead + Fixed overhead.
2) Variable Overhead= Variable overhead rate per hour mutliply by no. of labour hours.

So using the data of month May, Total overheads as $986000 and Labour hours as 68000 and variable rate as $5
986000= 340000(68000 into 5) + Fixed cost.
Fixed cost= 986000- 340000= $646000.Ans