- Messages
- 41
- Reaction score
- 73
- Points
- 28
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Credit period is 30 days. Apply the formula:
i thought answer was B, but looks like this question has some wording problem
O/N/2012 - Variant 13
Answer is A. How?
so we have to enter drawings also as $2400 ?i thought answer was B, but looks like this question has some wording problem
sales was credited by 2400, which means the sales was overcast
so profit should go down by 2400
purchases was also overcast because it wast credited at all, so profit should go up by 1500
the net effect is 900 loss which should be shared as 2:1
so debit each X by 600 and y by 300
we have to assume that they also incorrectly entered the drawings figure which is 2400, but supposed to be 1500, so credit X account by 900, so answer will be A
no, they have incorrectly entered drawings in the current account as 2400, but supposed to be 1500so we have to enter drawings also as $2400 ?
but how do we know they hav entered in the current a/c? they mention only sales na :/no, they have incorrectly entered drawings in the current account as 2400, but supposed to be 1500
so to correct this error, you need to credit X's current A/c by 2400-1500=900
thts y i said in the beginning, wording problem, i thought answer was Bbut how do we know they hav entered in the current a/c? they mention only sales na :/
ah ok thanks .thts y i said in the beginning, wording problem, i thought answer was B
after i read the examiner report i understood wht it was A
they need to be sued, thats more like itah ok thanks .
CIE needs good proofreaders.
7.https://www.xtremepapers.com/community/attachments/june2011p31-png.2888/, i have problem in these questions.
O/N/06 - P1
Why do we take 8000 instead of 12000?
they are basically asking how there is a credit balance in X's account in the books of YAccounts M/j 2013/12
Ques 1. Can someone explain me the question as well as the answer (its B)
Hi. I'm having troubles with Accounting.
http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_w11_qp_33.pdf
Question 2 (c) (iii)
I don't know how to calculate the purchases figure.
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