Accounting Paper 22 - Discussions after 24 hours

[SamiaSaad]

LOL no

lol It used to be 90% back in 2011 i think

 

[Emadthegreat]

600

 

[Emadthegreat]

nah

How many years was the equipment he disposed of in his ownership..? 2 yrs and 3 months? And we dont divide the 8000 x 0.1 by the number of years ryt?

 

[Emadthegreat]

yeah

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

 

[Emadthegreat]

profit was 77500 and 85000 i gues

How was the profit 77500 and 88000? :/

 

[Sarah Paul]

lol It used to be 90% back in 2011 i think

thanks to CIE

 

[azzychurchy1]

Guys my profit on disposal was 600 and unit costs 13.5 and 17.5 respectively.
Profit under marginal 77500 and 88500 under absorption
Can anyone tell reasons for reducing balance method and how 7500 affect contribution and profit.

 

[naoomi]

I wrote contribution will decrease and net profit will stay the same.
And reducing balance coz it has high fall in value during initial years of life. Also talked about prudence concept and repair costs. Wbu?

 

[Omer Iftekhar]

lol It used to be 90% back in 2011 i think

Lol no check the gt! It's never 90%

 

[SamiaSaad]

Lol no check the gt! It's never 90%

Lol okay but back in 2008 it used to 90%
I know cuz my Sis had given A Levels that time. They used showed the % on the result but now they don't.

 

[Sarah Paul]

Lol okay but back in 2008 it used to 90%
I know cuz my Sis had given A Levels that time. They used showed the % on the result but now they don't.

Hmmmm

 

[Omer Iftekhar]

Lol okay but back in 2008 it used to 90%
I know cuz my Sis had given A Levels that time. They used showed the % on the result but now they don't.

Here check if its 90% http://papers.xtremepapers.com/CIE/...nd AS Level/Accounting (9706)/9706_s08_gt.pdf
this is the latest gt for s13 http://papers.xtremepapers.com/CIE/...nd AS Level/Accounting (9706)/9706_s13_gt.pdf

 

[SamiaSaad]

Well her result says 90% with Grade A next to it -.-

 

[Sarah Paul]

Well her result says 90% with Grade A next to it -.-

okay in AS they dnt have A*s so she wud have got 90 fr AS

 

[muddi78]

The journal entry for disposal was Bank Dr 6000 prov for depreciation Dr 2600 and equipment Cr 8000 and profit Cr 600. Am I right??????????

 

[Omer Iftekhar]

Well her result says 90% with Grade A next to it -.-

Idk! Maybe that could be the percentage that your sis scored in the exam!

 

[FaizAnj]

Profit on disposal was 600 - credit entry in the journal
And profit in the 1st question was 31000 something, dont rememeber clearly

 

[Sarah Paul]

Profit on disposal was 600 - credit entry in the journal
And profit in the 1st question was 31000 something, dont rememeber clearly

Are u talking abt the NP or GP?

 

[FaizAnj]

Net Profit

 

[Sarah Paul]

Net Profit

hmm okay