ACCOUNTS

[naavo.1234]

Oh my god!!!!!!

you are doing it in 1 year.!!!

1 year
1 year.

i cant believed what i just read.!!!!

THAT IS AWESOME!!!

HOW DO YOU MANAGE IT???

 

[ks136]

With the help of Allah...and cooperation of my parents...this is all i can say...

 

[ks136]

navoo,,,,u r in which skool?

 

[naavo.1234]

indeed if u have Allah's help than u will succeed.

i have 4 subjects.
me and my family's immigration to Canada is still in process. i think this year we might get a visa. pl z pray for me too.

thats why i think i will only be able to do AS levels. i think. if i get straight As inshallah i will ask my college administration to arrange an admission in any good Canadian university. THATS MY PLAN.!! AND I PRAY TO ALLAH TO HELP ME.!!!

IAM KIND OF TENSED.!!!

 

[naavo.1234]

IAM STUDYING IN ROOTS COLLEGE INTERNATIONAL.

 

[nirajgrg]

i included net profit before interest. and i first added fixed assets and net current assets but my answer was included in the options then i thought i should add the long term liabilities as well then it came some thing i guess 21.6%.i thought that was the right answer. what u did??

i know i have done something wrong in that question as well.!!!

its answer was D 25 %

 

[ks136]

no it was C for sure

 

[nirajgrg]

@ks136 check out oct/nov 2006 q. no. 26, its the same and the ans is D

 

[ks136]

how??

 

[ahsan99]

its D ..repeated question
the formula is PROBIT(Profit before interest and tax)/ Capital employed(fixed asset + net current asset)
so u get 25 %
Between in absorption questions ..in the first one we had 8000 over absorbed since actual expenditure was less
than the budgeted expenditure..and in the second one it was 60000 since 70000-x=12000 (as over absorbed)
right? what did you people mark
And thirdly i did mark going concern (more of a tukka)..few of my friends said it could not be it because the business is UNCERTAIN
about the future..what do you think

 

[ks136]

all r correct

 

[ahsan99]

Please tell me the logic ks136 ..in question 2?
I was doubtful about that..because a similar type of question came
about another concept..It was UNCERTAIN , Going concern says
it will continue in the forseeable future
and thanks for the confirmation

 

[ks136]

i dont remember exactly but going concern was d answer

 

[sarzkhan]

hey, what was the ans for the affect on current ratio n acid test ratio?
and also what was the ans for that ques whch asked the net increase in assets?

 

[ahsan99]

Yes ks it was indeed going concern but i am asking you for the reasoning
i made a tukka so dont know... current ratio same , acid test decreased
Net increase in assets? ..didnt get you

 

[nirajgrg]

hey, what was the ans for the affect on current ratio n acid test ratio?
and also what was the ans for that ques whch asked the net increase in assets?

current ratio = unchanged, quick ratio = decreased
are u asking about the 50000 $5 shares, i think its option (C) 1 000 000

 

[sarzkhan]

how was it 1000?
i got 250:*(
the first ones correct

 

[saimaiftikhar92]

I THINK THE ANSWER TO QUESTION 2 WAS MATCHING BEACUSE...GOING CONCERN MEANS THAT THE BUSINESS WILL CONTINUE IN FUTURE BUT HERE THE CASE WAS OPPOSITE ,,,,,,

 

[nirajgrg]

50000 shares of $ 5 each = $ 250 000
premium on the shares 50000 * $ 15 = $ 750 000
debentures = $ 300 000 (i guess)
increase in assets= $ 1 300 000
increase in liabilities = $ 300 000
so, increase in net assets = $ 1 000 000

 

[nirajgrg]

I THINK THE ANSWER TO QUESTION 2 WAS MATCHING BEACUSE...GOING CONCERN MEANS THAT THE BUSINESS WILL CONTINUE IN FUTURE BUT HERE THE CASE WAS OPPOSITE ,,,,,,

this question is from past papers, answer is going concern