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Nah, I want it too, do let me know if you find it.What about economics paper one? Has that been given too?
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Nah, I want it too, do let me know if you find it.What about economics paper one? Has that been given too?
I would but just tht Its kinda difficult to take pictures of every page and time consuming too so I'd do it when I can.Can you please post the entire paper? Especially paper 1?
Will do.Nah, I want it too, do let me know if you find it.
Ill post it in a while.Can you please post the entire paper? Especially paper 1?
Theyll give you marks if you carried forward a wrong figure but did the right method.plus if net profit ws wrong the error will be carry forwared causing a potential loss of at least 13 marks as a whole in q2
1000?I hope!
Some people messed up the Net profit im question 2 because of the interest on loan.
what was your NP?
Are we allowed to discuss the exam yet?
Yes that's rightwhat did we have to wright for the last part? difference in profit?
I wrote that in absorption costing the cost per unit included fixed cost per unit too bt in marginal only variable cost per unit is included
was that ryt? ?
the first one is right you'll get a one for it!the most concerning ratio in q3?
I wrote ROCE :/
and why the goodwill is arisen?
I just wrote so that the existing partners can be benefited and so the new partners capital acc is not overstated. It obv wrong I guess
the question was for 7 marks! so I think the goodwill should be written off as it is not a purchased goodwillNo, that's because the question didn't say so, though IAS says that internally generated good will should not be recorded due to subjectivity and objectivity concept, but CIE doesn't get the point!
I did write off the goodwill and the loan interest was 1000, and the net profit was 20000. So the goodwill was 40,000Was the goodwill to be written of and secondly what was the correct loan interest and net profit
Me too Btw if your corrected net profit is wrong, you will get wrong b/d of capital in it's next part and then you will get wrong int on capital in appropriation account? No part was independent :/Paper 1 is already been given, I'll provide you!
But you'll get marks according to ur answer.Me too Btw if your corrected net profit is wrong, you will get wrong b/d of capital in it's next part and then you will get wrong int on capital in appropriation account? No part was independent :/
Okay, here are my answers.
I selected Business Y as computer manufacturer, which I know was wrong, I got Capital employed 1800,000 and 750,000 respectively while sales were 540,000 and 1500,000. Non-current assets had to be found by using working capital and deducting it from Capital employed.
In Question 2, I didn't see that interest was just for 3 months, so I took it whole and got wrong net profit of 18000 instead of 20,000 but that would cause a maximum of 3 marks. Good will was to be credited in the Grosz account but not to be written off. Appropriation account would be correct but I think I'll lose marks in theory as for why good will was arisin.
In Question 3, I got 2200 as break even and then got the Margin of safety in revenue. The total material was coming 48000 metres and the profit was coming $52,800. Examiner might deduct 1 or 2 in the last part but that's unlikely because I mentioned that different profits are reported due to change in inventory level as in Marginal costing, inventory is treated as period cost while in absorptional, it's treated as unit cost.
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