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AS ACCOUNTING P12.... howd it go??

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Capital was 40,000
Good will was 60,000
First we'd divide the good will in old profit sharing ratio.
And then write off in new profit sharing ratio, this means that it'd be 28,000
As when writing off, it was coming, 18,000
40,000 - 18,000 = 22000
That's what I'm saying it said 'Goodwill is valued at 6k' not 'Goodwill is valued at 6k, it is not to be shown in the books of accounts'
 
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Capital was 40,000
Good will was 60,000
First we'd divide the good will in old profit sharing ratio.
And then write off in new profit sharing ratio, this means that it'd be 28,000
As when writing off, it was coming, 18,000
40,000 - 18,000 = 22000
My teacher said if not mentioned otherwise goodwill should be written off according to prudence. Non purchased goodwill is NOT shown in the financial statements unless it's stated clearly in the question to show goodwill as a non current asset. Btw the last one was June and June, ie B, right?
 
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FGS, can someone please clarify the answer of the last mcq? The cash budget "June-July-April.....blah blah" one :/
it should be June June because the cash payment was made in june. In cash accounting, we record an entry as soon as cash inflow or outflow takes place.
 
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it should be June June because the cash payment was made in june. In cash accounting, we record an entry as soon as cash inflow or outflow takes place.
But the machine was delivered in April. So are'nt we supposed to record transactions when the legal transfer of goods takes place? Are you sure it's June June?
 
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Can anyone remember question number 9. I remember that I had a confusion in that question but I can't remember what it was about.
 
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It was credit controller one.
Ya, I got that right! My accounting paper was awesome but I screwed up Maths p1 big time. The invigilator gave me the paper 5 minutes after the end of accounting paper and I failed to divert my mind from accounting to maths and messed up 16+ in Maths! :'( The time clash ruined my life!!
 
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can anyone tell me from where to prepare for the new thing in accounting syllabus the cash budget thing , similar to what came in question no 30. please it would be really helpful.
 
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