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The answer to this question should be B but in the MS it's A.Please someone help me with this
It's too easy bro...
It's easy it's B...
Dont say easy, it's easy for you but not for me. Thanks!It's easy it's B...
First of all, the current account balance will be transferred to the capital account...
Then, goodwill will be added to the capital account as it's his effort of creating the goodwill i.e 1/3 * 6600 = $2200
Next, the profit on revaluation of $3000 will also be added to tha capital account i.e 1/3 * 3000 = $1000
So, the total balance will be 15800 - 3500 + 2200 + 1000 = $15500
Therefore, it's B...![]()
Ya she is rightDont say easy, it's easy for you but not for me. Thanks!
ThanksIt's too easy bro...
Prepare rent and rates account and place the 3 values in this account i.e
Credit - Income & Expenditure Account
Credit - rent prepaid (asset brought down debit so carried down credit)
Debit - rent owing (liability brought down credit so carried down debit)
And then the balancing figure will be the amount from the receipts and payments account.
So in this case, I think it'll be $4000 + $800 - $600 = $4200
So I think it's C..![]()
Gapppp reee baileeeeeeeee....!! -_-Ya she is right
Okay...Dont say easy, it's easy for you but not for me. Thanks!
Factoring debts is like selling your debts to an organisation. For example if you have a debtor owing you $10000 and you think that he wont repay you the money then you could sell his debt to an organisation and the organisation would give you the money but not the entire amount of the debt. The organisation would give you say$9000. So i think the answer for this question should be A.What is "factoring its debts" ?
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Thanks...Factoring debts is like selling your debts to an organisation. For example if you have a debtor owing you $10000 and you think that he wont repay you the money then you could sell his debt to an organisation and the organisation would give you the money but not the entire amount of the debt. The organisation would give you say$9000. So i think the answer for this question should be A.
26. C/S ratio = 30%http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_w11_qp_12.pdf 26 and 30!!!!!! Just checkin if my workings are correct.
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