Accounting Paper 22 - Discussions after 24 hours

[Sarah Paul]

How can it be A ?
In contra we take lowest amount

And usually we debit the purchases control account and credit the sales ledger control account

 

[dimebagdarrel0443]

it can never be leasehold answer.....

i agree with u

 

[dimebagdarrel0443]

Well My answer was B but someone said it was wrong
but i think you take away the small amount from the large amount
then Dr Purchase Control Account n Cr Sales Control Account

B is correct

 

[dimebagdarrel0443]

last one

i chose option d for last question.....but i didn't take into consideration the trade allowance...hope tht option d is correct

 

[dimebagdarrel0443]

Yes it is D

B

D or B??

 

[dimebagdarrel0443]

C the last three are C

can you give me the answer to partnership question??share of profit...should we add the salary and interest on profit to y's share of profit....if thats the case then option d should be the answer

 

[:: A^]

can you give me the answer to partnership question??share of profit...should we add the salary and interest on profit to y's share of profit....if thats the case then option d should be the answer

yes we should add

 

[Waleed007]

And usually we debit the purchases control account and credit the sales ledger control account

Them what did I said ?
The option was B. Not A

 

[Waleed007]

yes we should add

Really ?
It was written share of profit for the year..
It wasnt written Total share of profit then how come we wud add int on cap nd salary?

 

[Waleed007]

Well My answer was B but someone said it was wrong
but i think you take away the small amount from the large amount
then Dr Purchase Control Account n Cr Sales Control Account

Dude its correct.

 

[:: A^]

Really ?
It was written share of profit for the year..
It wasnt written Total share of profit then how come we wud add int on cap nd salary?

It wasnt share of residual profits either. My teacher told we have to add unless they say residual profits.

 

[Waleed007]

It wasnt share of residual profits either. My teacher told we have to add unless they say residual profits.

Oh, btw i did the same thing
Sorry, i was just confirming. ^^

 

[:: A^]

Oh, btw i did the same thing
Sorry, i was just confirming. ^^

lol. You seriously need to calm down..

 

[Waleed007]

lol. You seriously need to calm down..

What was the answer to that a guy sells his goods om credit to bla bla,, so.bla bla would be.most iterested in ?
Current ratio
Gross profit margin
Rest options i dont remeber

 

[:: A^]

What was the answer to that a guy sells his goods om credit to bla bla,, so.bla bla would be.most iterested in ?
Current ratio
Gross profit margin
Rest options i dont remeber

current current

 

[Waleed007]

current current

Coool. ^^

 

[Waleed007]

current current

Can you tell which topics are likely to come in p2?

 

[Emadthegreat]

The last 3 are C
I put C

mine too last 3 were Cs

 

[Emadthegreat]

what about q12 the snack bar thing? and the set off thing u take the smaller number and credit on sales ledger control acc and debit to purch ledger control acc ryt??

36135 was the answer
it came before too

 

[:: A^]

Can you tell which topics are likely to come in p2?

Basically everything.. :/