ACCOUNTS

[ahsan99]

It was for sure 12000 overabsorbed in the question.
So actual expenditure must have been less than 72000!

 

[ahsan99]

No saima , although your answer i think is right : P
but when actual expenditure is less than budgeted expenditure
its over absorbed..so it was 60000
What abt net assets question? Can any one please recall it
correclty

 

[Echelon94]

@ ECHELON

PAPER 2 WAS ALSO GREAT JUST I FORGOT TO DEDUCT CASH SALES FROM STOCK LOST BY FIRE AND I MISTAKENLY CONVERTED OPENING STOCK IN TO COST PRICE WHICH WAS ALREADY ON COST PRICE. I THINK I WILL LOSE 2 MARKS FOR THAT.

Well I think I got the wrong answer because it came in decimel .i.e. upto $0.50. But anyways I used the logic that the clearance sales were already part of the Credit Sales for the year figure given. So I deducted their amount from te Credit Sales figure when calculating the gross profit. I hope I don't loose much marks.

 

[ahsan99]

and we were asked to calculate actual expenditure
when we use OAR * no of hours we get budgeted expenditure=72000

 

[saimaiftikhar92]

YA SORRY BUT THE ANSWER IS RIGHT





OKAY LEAVE ALL THIS
JO HOGAYA SO HOGAYA

FROM WHICH SCHOOL ARE YOU ALL?????

 

[ahsan99]

Please tell me the net assets question..please

 

[saimaiftikhar92]

IT WAS 100000

 

[ahsan99]

question?

 

[ahsan99]

I mean do you remember the info provided

 

[ahsan99]

oh rite ..so we had to add 300 000 people
debentures increase the net asset ( you get cash)

 

[naavo.1234]

LISTEN IF IT WAS 12000 OVER ABSORBED THAN YOU HAVE TO SHOW THE FIGURE IN NEGATIVE

IF IT WAS UNDER ABSORBED THAN YOU HAVE TO SHOW IT IN POSITIVE.

I THINK IT WAS 12000 UNDER ABSORBED SO I MADE 12000 A POSITIVE VALUE.

 

[saimaiftikhar92]

I GOT THE ANSWER AS 1300000............DID ANYONE GOT???

 

[naavo.1234]

WHICH ANSWER???

 

[saimaiftikhar92]

NET ASSESTS...

 

[naavo.1234]

I DONT KNOW BUT MINE IS CERTAINLY WRONG THOUGH CANT REMEMBER THE FIGURE.

 

[Moiz]

The answer was 1000000 because debentures will increase cash but at the same time Long term liabilty will increase leaving net effect of Debentures being 0

 

[saimaiftikhar92]

FROM WHICH SCHOOL ARE ALL OF YOU FROM??/

 

[Moiz]

Beaconhouse Karachi

 

[saimaiftikhar92]

I KNOW THE ANSWER IS 100000

 

[ahsan99]

Oh so i got one mcq wrong : (
so people how many marks are you people expecting
in both Paper 1 and Paper 2 ...list them!