Accounts 0452 help needed big time!!

[UnknownUser]

What is the difference between
" Equipment valued at ------ " and " Equipment re-valued at ----" ..
When do we take the amount given in " additional information " and when do we minus it -__-??

 

[IGCSE O/L student]

What is the difference between
" Equipment valued at ------ " and " Equipment re-valued at ----" ..
When do we take the amount given in " additional information " and when do we minus it -__-??

cn u specify a question so i cn ans accordingly?

 

[UnknownUser]

summer 2011 varient 23
"3 Equipment was valued at $3800 on 31 January 2011. No equipment was bought or
sold during the year ended 31 January 2011"
How do i know if i have to deduct it from the original amount or take the one provided.. Sometimes the question even says " EQUIPMENT WAS RE-VALUED AT "

 

[UnknownUser]

"3" is the point number!

 

[IGCSE O/L student]

in dis case if re-valued or valued is used, it means u hv 2 deduct frm da openin book value 2 obtain da depreciation.

 

[UnknownUser]

And the same follows throughout? I mean I just wanna know when to deduct and when to use the amount given in additional info. Is there some kind of term they use or what? I hope you understood what I meant!

 

[IGCSE O/L student]

cn u giv me an example of both scenarios? i'll xplain properly den.

 

[UnknownUser]

I cant find a question at present :S. Thanks for your help though, i'll let you know when i find one.
One more thing.. Recently, instead of closing stock a margin has been given ( 20% or 25%). I solved a question in winter 2006, question #1. After I found the value of the closing stock I deducted the drawings which is understandable ( i dont have any doubt with that ) but when I solved a similar question in winter 2011 varient 23, and when I deducted the drawings and checked my answer with the mark scheme , it was wrong. The amount which was in the mark scheme was the figure without deducting drawings. Can you please help me with that!!

 

[IGCSE O/L student]

wat ws da question # in 23

 

[UnknownUser]

2

 

[IGCSE O/L student]

da drawings given is cash drawings, n is not guds drawings.
if it is guds drawing, it'll b clearly stated.

 

[UnknownUser]

No. After finding the closing stock ( the one we have to find ), I deducted drawings from it.