Accounting Paper 22 - Discussions after 24 hours

[Sarah Paul]

I think it was only 3 years.2010.2011.2012..dyu hav to count depreciation in month of the sale of the asset?

yes u have to they said fr each month of depreciation

 

[Muhammad Bhikhu]

Yup you had to coz other payables are your liabilities so you have to reduce the amount for expenses paid in current year

What about other receivables..u hav to subtract isnt it.

 

[pdude123]

I think it was only 3 years.2010.2011.2012..dyu hav to count depreciation in month of the sale of the asset?

Yeah duh.. it ws clearly written in the question..

 

[Muhammad Bhikhu]

How many marks was the reconciliation question?

 

[pdude123]

What about other receivables..u hav to subtract isnt it.

Umm actually if u check the definition for other receivables on Google it can be both prepaid expense or accrued income.. so now it depends on examiners how they mark it.. :/

 

[pdude123]

How many marks was the reconciliation question?

Marginal and Absorption costing Profit? That ws 2 marks

 

[SamiaSaad]

What was the Profit of Absorption and Marginal Costing?

 

[pdude123]

What was the Profit of Absorption and Marginal Costing?

Absorption - 85500
Marginal - 77500

 

[IGCSE Abdullah]

yes

I think it was only 3 years.2010.2011.2012..dyu hav to count depreciation in month of the sale of the asset?

it said to depreciation charges monthly..

 

[SamiaSaad]

Absorption - 85500
Marginal - 77500

No way :/ that must be wrong,

 

[SamiaSaad]

Guys Profits of Q3? Anyone?

 

[pdude123]

No way :/ that must be wrong,

Yes that is the right answer fyki!

 

[SamiaSaad]

Great. I'm screwed

 

[naoomi]

I got profit of 30 thousand and something in Q1 but I didn't include depreciation which was supposed to be included. In Q3 the marginal costiing profit was 77500 and absorbtion costing profit was 85500. In question 2 the profit on disposal was 600. I messed up part b and c .included depreciation on NBV instead of cost does anyone remembers answers for Q2 part a b c?

 

[sycho cj]

brothers can anyone tell me that the entries of cost and profit in disposal will be debit or credit

 

[Omer Iftekhar]

Guys any idea what grade A might be for paper 22?

 

[Omer Iftekhar]

brothers can anyone tell me that the entries of cost and profit in disposal will be debit or credit

The profit was 600 so it would be Debited

 

[sycho cj]

but bro i think he asked for journal entries so it must be credited

 

[SamiaSaad]

How was the profit 77500 and 88000? :/

 

[Omer Iftekhar]

No that wasnt a journal that was The Disposal Account of equipment

but bro i think he asked for journal entries so it must be credited