Accounts P12 discussions

[SRKfan]

how was manufacturing account?

ya dats da one which was really confusing...

 

[SRKfan]

how much did u get in the balance sheet i got $203 600
and th propert tax nd commission t acoount was really a pain in the neck......
the balances of the both were current assets ryt?

 

[Maria.23]

Yes both of them were current assets !

 

[Maria.23]

And the total for balance sheet was 203600

 

[SRKfan]

And the total for balance sheet was 203600

oh thank god but the t acoounts were really confusin how did ur property tax acount look lyk?

 

[Haleema Khawar]

the property tax and commission received were not really confusing

 

[Maria.23]

One of them was 806 I guess

 

[SRKfan]

was da prpoerty tax balance 540?

 

[kamidada]

R u sure bout this ans...cuz i just multiplied 6000 by 1.50.

No. of shares x price per share x rate of dividend = dividend

 

[maheenhemani]

was da prpoerty tax balance 540?

yep it was 540

 

[Saadman]

You had to multiply 6000 by $1.50=9,000
and then find 3% of that =$270

actually then u had to divide it by 2 cause they asked for the interim dividend.... 270/2=135 =) but the rest of the part's right..

 

[Saadman]

i did charge dep on the computer, but damn ya i guess ur rite i should have added the cost of the hard disk to the computer and then charged depreciation

No hard disk was a revenue expenditure so it will go to income statement, u don't take it in the depreciation cal//// ur right =)