Economics, Accounting & Business: Post your doubts here!

[Esme]

sorry, i dont get this one, it seems to me like the they forgot to print the line about about markup or somethign

anyway, it is my guess that , we get a profit of 100 000 if we use the closing stock at selling price, so now this gross profit represents a higher profit then it actually should be
so this overstated profit of 100 000 is as if we had sales revnue of 550 000( 500 of current sales revenue plus our closing stock 50 = 550)
so to get our profit for our orignal salles value of 500 000, we multiply 100 000 into 500/550 to get our answer c

i am not at all sure that this is the resoning behind this, but the er says this
Question 12 – candidates did not take into account that the closing stock was given at selling price. Thus
the total gross profit of $100 000 needs to be allocated by 10/11 to find the gross profit for the year.
( 500/550 is 10/11)
what do you think?

Haha it would be funny if they actually forgot to print the line about mark up.

Yes I saw the er, but I didn't understand that.
Your explanation does make sense, it's better than having no explanation. But could you explain why profit of 100000 is as if we had sales revenue of 550000 (500+50) ??

 

[student92]

Haha it would be funny if they actually forgot to print the line about mark up.

Yes I saw the er, but I didn't understand that.
Your explanation does make sense, it's better than having no explanation. But could you explain why profit of 100000 is as if we had sales revenue of 550000 (500+50) ??

i dont know!
i think , as they have only provided us with closing stock on selling price, we had to do this 500/550
our closing stock is overstated, and we dont know the actual cost, so i guess we had to find the profit with the overstated closing stock, and then because we knew the selling price vlaue of the closing stock, we could formulate this that this profit is for (500+50) sales revenue. and find the actual profit for the sales revenue of 500
i am also not sure about the reasoing behind this, but it seems to be getting the answer, anyways, what do you think, any other possible way to solve this

 

[student92]

Economics mj09 p3
q2 please explain me the workings
thanks
http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Economics (9708)/9708_s09_qp_3.pdf

could you please explain this

 

[Waleed007]

AS level Economics
Q. explain why all type of economic system benefit from the existence and the use of money? (8)

 

[ZainNadeem]

Question 4 Anyyyybodddyyy... Plsssss Student92 or Esme....


http://papers.xtremepapers.com/CIE/... AS Level/Accounting (9706)/9706_s09_qp_3.pdf

 

[Esme]

X and Y have 40000 on the credit side as balance brought down. Then goodwill of 24000 (48000 shared equally) is credited to X and Y's account. Next credit 30000 cash in Z's capital account. Now to write off goodwill, debit all three partners account with 16000. Also X's account has to be debited with 10000 as the car taken for personal use is treated as drawings. So the remaining balances will be :
X:- 40000 + 24000 - 16000 - 10000 = 38000
Y:- 40000 + 24000 - 16000 = 48000
Z:- 30000 - 16000 = 14000.

student92
Here, I explained in a previous post but I think you didn't see

 

[Esme]

i dont know!
i think , as they have only provided us with closing stock on selling price, we had to do this 500/550
our closing stock is overstated, and we dont know the actual cost, so i guess we had to find the profit with the overstated closing stock, and then because we knew the selling price vlaue of the closing stock, we could formulate this that this profit is for (500+50) sales revenue. and find the actual profit for the sales revenue of 500
i am also not sure about the reasoing behind this, but it seems to be getting the answer, anyways, what do you think, any other possible way to solve this

No, I don't know any other ways to solve this. Even my teacher wasn't able to come up with an explanation for this. So hats off to you for the reasoning.

 

[Esme]

Question 4 Anyyyybodddyyy... Plsssss Student92 or Esme....


http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_s09_qp_3.pdf

Okay here:
I don't how you've been taught CRR, but this is how I do it.
In this case, the value of CRR will be the nominal value of redeemable shares minus the total value of shares issued. So the nominal value of redeemable preference shares is 200 000 and the total value or ordinary shares issued is (20 000 x 3.5) 175 000. So CRR = 200 000 - 175 000 = 25000.

 

[Esme]

AS level Economics
Q. explain why all type of economic system benefit from the existence and the use of money? (8)

I'm not very sure but I think you have to talk about all the functions and characteristics of money. Such as medium of exchange, store of value etc.

 

[Waleed007]

I'm not very sure but I think you have to talk about all the functions and characteristics of money. Such as medium of exchange, store of value etc.

but we have to explain whats the use of money in all 3 economic systems.

 

[cool Asviva]

http://papers.xtremepapers.com/CIE/...AS Level/Accounting (9706)/9706_s12_qp_11.pdf
mcq no. 12
can anyone explain the sunk cost and stepped cost?

 

[Esme]

but we have to explain whats the use of money in all 3 economic systems.

Can you tell me which past paper this is from? I'll check if I've done it.

 

[bagsilk]

Need some help on motivation theories.... do we have to learn these theories or what

 

[student92]

student92
Here, I explained in a previous post but I think you didn't see

my question is economics!?

 

[Esme]

my question is economics!?

Oh right. I'm so sorry, didn't read it properly.
For each unit, you have to find the marginal utility per dollar for both good X and Y.
For the first unit, it'll be 12/3=4 for X and 34/6=5.67 for Y.
For the second unit,it'll be 11/3=3.67 for X and 30/6=5 for Y.
And so on for all 8 units. Then for which unit of X, the marginal utility per dollar is the same as that of Y. So you'll see that for the 4th unit of X, the MU per $ is 3 and for the 5th unit of Y also the MU per $ is 3.
Therefore, the customer will buy 4 units of X and 5 units of Y to maximise his utility.

 

[student92]

thankyou

 

[ZainNadeem]

Okay here:
I don't how you've been taught CRR, but this is how I do it.
In this case, the value of CRR will be the nominal value of redeemable shares minus the total value of shares issued. So the nominal value of redeemable preference shares is 200 000 and the total value or ordinary shares issued is (20 000 x 3.5) 175 000. So CRR = 200 000 - 175 000 = 25000.

Isnt CRR calculated by subtracting nominal value of issued shares - Nominal value of redeemed shares... Thank you so much for your reply.

 

[Esme]

Isnt CRR calculated by subtracting nominal value of issued shares - Nominal value of redeemed shares... Thank you so much for your reply.

No it's nominal value of redeemable - total value of issued shares

 

[Manal Ezazi]

can any1 help me out in this question?

may/june 2010,paper 3 Q28?How did we get C?
http://papers.xtremepapers.com/CIE/...AS Level/Accounting (9706)/9706_s10_qp_32.pdf

 

[Asheerah angel]

Discuss whether the principle of comparative advantage is a satisfactory explanation of the trade pattern of an economy with which you are familiar.