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Accounting Poll

How much will you probably score?


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Please tell me answer to the questions?
How much was the Revised Profit?
Also, the in second part after the appropriation was the profit 40100?

I think i messed up the profit part of the 3rd question. I got 82800.
 
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Tinks!
-The Revised Profit was $20000.

-The total residual profit was $70000.
Share of Gyasz was (70000*40%/2) + (70000*60%*3/5) = $39200
Share of Kayal was (70000*40%/2) + (70000*60%*2/5) = $30800 (y)
 
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I somehow got $18000 as my revised profit.

What was the answer for the profit one in the 3rd question?
 
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So if $20000 is right?
How many marks do you think will be deducted?
Cause it was needed in the Goodwill question too.
 
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-In the 3rd question, profit was 99000 - 46200= $52800.

-there are "of" (own figure) marks, so you'll get atleast half the marks of the question if your method is correct.
 
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When the treatment is not mentioned, then goodwill is not retained in the books, so Grosz credited with 40k and Grosz & Kayal debited with 24k & 16k respectively. :)
How are you sure about this? I've done questions where the treatment is not mentioned and we had to show it in the balance sheet. And where if not they usually tell us it is not to be shown in the books of accounts.
 
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He is right. Goodwill had to be NOT opened .. Yeah,in the previous papers goodwill was shown but from now on you had to write it off .. Also,if it was purchased goodwill then You MAY have shown it in the books of account but this was not purchased goodwill and i'm sure that you had to write it off.
 
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